Lifestyle and beauty publisher Coveteur is shuttering, according to two people present on the Wednesday Zoom call where this was announced.

As part of the closure, the company is eliminating roughly 17 roles—one-dozen editorial and five staff. Six members of the editorial team will stay on until June 15, while the rest of the staff will finish Friday, according to sources present during the call.

Both Coveteur and its parent company, Great Bowery, did not respond to multiple requests for comment.

Coveteur, founded in 2011, covered the worlds of lifestyle, fashion and beauty. It was acquired by talent agency Great Bowery in 2019 for $15 million.

Great Bowery also owns luxury talent firms Streeters, M.A.P. and Bernstein & Andriulli, along with image licensors Trunk Archive and Gallery Stock.

Great Bowery folded Coveteur because it was unprofitable, the sources were told on the Zoom call. The closure is an abrupt about-face following a decision by Great Bowery in late 2023 to invest further resources in the company.

In February, the company made headlines when it hired Jenna Lyons, former creative director of J.Crew, as its editor in chief. Lyons is also filming the second season of Bravo television show Real Housewives of New York, where she stars as a cast member.

Coveteur made a slew of other key appointments around the same time, bringing in a managing editor, creative director and art director. The investment was part of a larger rebrand that occurred in January, and the company also planned to release a print product later in the year, according to a pitch Coveteur had sent to ADWEEK.

Following the rebrand, Coveteur experienced an uptick in traffic. From January through March, its style, beauty and culture verticals increased in traffic by 32%, 27% and 27%, respectively, according to the pitch. Social reach and impressions across its channels had increased 95% and 13%, respectively, in the same time period.

The company is the latest publisher to close its doors amid an increasingly challenging media ecosystem. Earlier this year, publishers including Business Insider, the Los Angeles Times and Time laid off broad swathes of their workforce, while other titles, such as The Messenger, were shuttered entirely.