The Irish Times Group has acquired the remaining stake in luxury and lifestyle publisher Gloss Publications, which publishes The Gloss magazine, in which it has held a 50% stake since 2006.
The acquisition of the shares held by Gloss Publications co-founders Jane and Sarah McDonnell is part of a strategic move by the Irish Times Group to expand its media and digital offering, following its acquisition of leading death notice website RIP.ie earlier this year.
Launched in 2006, Gloss is a large-format glossy print publication published in partnership with The Irish Times on the first Thursday of every month and features articles and features on lifestyle, interior design, food and travel.
The company publishes a special edition of Gloss Interiors twice a year (spring and autumn) which is distributed by The Irish Times. Gloss Publications also publishes magazines for private clients such as universities and runs premium events such as the annual Gloss Gala.
Deirdre Beldon, managing director of the Irish Times, said the acquisition would strengthen the group's portfolio of “high quality journalism and services”.
“Sarah and Jane founded top-class publications, The Gloss and The Gloss Interiors, which are avidly read by loyal and discerning readers in both digital and print editions,” she said. “We've enjoyed working with Jane and Sarah as co-shareholders for many years and see now as the perfect opportunity to deepen that relationship and bring their high-end original content and premium events to even more readers.”
According to condensed financial statements from Gross Publications, the company had accumulated profits of more than €342,000 at the end of 2022, up from €226,514 in 2021. In a note accompanying the accounts, the directors said there was “continuous improvement in the business” and revenues were “approaching” pre-pandemic levels.
Commenting on the deal, Jane McDonnell said the strategic partnership The Irish Times has had with Gloss Publications for nearly 20 years has been key to the company's success: “Over the past 18 years we have invented and reinvented the Gloss, Gloss Interiors and thegloss.ie titles and delivered a number of unique event formats, including the Gloss Gala, successfully across multiple sectors.”
Sarah McDonnell, editor of Gloss, said: “We set out to create a new media brand that blends the best of print with the advantages of digital. Our readership is outstanding for its breadth and brand loyalty. This incredibly engaged readership enables us to strive for excellence in all we do.”
