Digital fashion and beauty platform Coveteur is shutting down operations and laying off its entire staff, according to reporting by AdWeek on Wednesday (May 29, 2024). The layoffs includes Real Housewives of New York cast member Jenna Lyons, who joined the publication as editor in chief back in February.
In addition to Lyons, the company also brought on a managing editor, creative director and art director, all part of a rebrand, which included plans for a print magazine to be launched later in 2024.
According to AdWeek reporter Mark Stenbeg, the company didn’t reach revenue goals during January-March despite claiming a double-digit increase in traffic and social reach in a pitch deck reporting on the same period. Six members of the staff of 17 will stay on until June 15th to assist in winding down the site. The rest of the staff will finish on Friday.
As of today (June 5th), the site and Instagram feed are still being updated with new content, however, Lyons name is no longer listed on the masthead.
Coveteur was co-founded in Toronto in 2011 by Jake Rosenberg and Stephanie Mark, and was acquired by talent agency Great Bowery in 2019 for $15 million. Great Bowery also owns talent agencies B&A, Bowie and CLM as well as licensing companies Gallery and Granted.
Neither Great Bowery nor Lyons have provided an official statement on Coveteur closing.
