System co-founders Elizabeth von Guttman, Jonathan Wingfield and Thomas Lenthal have reacquired the intellectual property rights and full ownership of the Anglo-French magazine after the London-based entity which published System, Enlightened Publishers Limited, was placed into liquidation last month.
The terms of the transaction were undisclosed.
Von Guttman, Wingfield and Lenthal had exited the title in October amid financial turmoil and disagreements with owner and publisher Mike Obenson.
System, which began as a bi-annual print magazine in 2013, carved out a niche with insider cred and sharp creative direction, winning over industry professionals and fashion fans alike. But in a fast-changing media landscape, turning that appeal into a sustainable business proved a challenge.
In 2020, System was acquired by Obenson, who launched System Beauty in 2022 and worked to strengthen the magazine’s digital footprint, hiring Susanna Lau as digital editorial director in May.
“I successfully grew the digital business, developed the beauty category, consolidated System’s credibility in the industry and helped quadruple revenues. I am proud of everything we accomplished together, and I wish them the very best of luck for the future,” Obenson said in a statement.
Von Guttman, Wingfield and Lenthal said they “look forward to taking System into its next era with renewed energy, integrity and innovation — across the title’s digital platforms, expanding print editions and events.”
System will launch its next print edition during Paris couture week in January.
Learn more:
System Magazine Co-Founders Exit Publication
Elizabeth von Guttman, Thomas Lenthal and Jonathan Wingfield are leaving the fashion title and plan to launch a new editorial venture in 2025.
