Penske Media Corporation (PMC) and its subsidiary Fairchild Media announced the acquisition of Sourcing Journal, the premiere media brand for global executives focused on the sourcing and manufacturing industries. The purchase advances Fairchild’s and WWD’s (Women’s Wear Daily) leadership position in today’s fashion and retail business coverage.
“The future of fashion will rely much more on material sciences, sourcing and technology, so to bring into the fold the leading media publication in that space opens important opportunities for our WWD and FN brands as well as for our readers and partners,” said PMC Chairman and CEO Jay Penske. “Eddie is a remarkable entrepreneur; we’re eager to work with him and the entire Sourcing Journal team to continue the growth of this emerging brand and leading platform.”
“There’s something to be said about synergies and I think that’s what we’ve found with this move. When I met Jay, I knew he shared the same vision for the future of Sourcing Journal as I’ve had in all the years that got us to this point,” Hertzman said. “Now, with PMC’s positioning and insight, we’ll be able to not only grow the publication’s offerings but also reach our aim of making Sourcing Journal the homepage for the entire global supply chain industry.”
As an extension of its editorial content, Sourcing Journal’s summits gather the industry’s thought leaders and premier executives for high-level networking as well as candid and professional discussion and debate around the most pressing industry challenges and opportunities. These conference offerings are slated to grow as part of PMC and Fairchild, where Sourcing Journal will leverage the infrastructure of the robust Fairchild Live events business in order to expand its year-round global offerings.
“In the increasingly fast moving worlds of fashion, retail and beauty, the winners will be those with the most advanced and flexible logistics and sourcing capabilities,” said James Fallon, editorial director of WWD. “While WWD has always covered these areas, the acquisition of Sourcing Journal will enable us to provide more in-depth, up-to-the minute and insightful coverage of these vital areas for our global readers. The addition of Sourcing Journal’s summits also will also help industry executives stay up to date with the latest trends in the sector.”
The acquisition is set to bring together two of the fashion and retail industry’s leading sources for breaking news and smart insights vital for today’s global executives.
By Lolita A. Alford