The market’s in the toilet, real estate is crushed and GDP is feeble. And Asian publisher Jane Leong’s has just launched a New York edition of its flagship Prestige magazine.
The company, which publishes super high-quality glossies across Asia to hit the region’s newly enriched, is trying a U.S. magazine after nine years of success in Asia. The fact that magazine ad pages are shrinking doesn’t seem to daunt them, at least not when they sat down with us at a Manhattan coffee shop.
Prestige magazine, which is sent to 50,000 people with assets of $10 million, debuted yesterday and is going to be published 10 times a year. The launch issue weighs in at a slick 192 pages and is full of ads for high end art, watches and clothes that most of us can’t afford.
Leong, her U.S. publisher Ray Chelstowski and editor Rhonda Palmer think they can carve out an up-upscale niche in town by creating a low-key but well-heeled community that advertisers need to reach. The first cover: the comely real estate developer Janna Bullock and a profile of her apartment at the Plaza (including the Damien Hirst on the wall).