AMP CEO Julia Raphaely has announced that the company will cease trading and publishing its magazine titles from Friday, 1 May 2020.
AMP published Cosmopolitan, House & Leisure, Good Housekeeping and Women on Wheels. The company was launched in 1982 by Jane Raphaely, a woman who has played a pivotal role in magazine publishing and female empowerment in South Africa. Her daughter Julia took over the helm during the last turbulent decade, transforming the company to meet the challenges the entire publishing industry faced.
Although every effort was made to achieve this, the unexpected and devastating impact of Covid-19, causing the closure of printing and distribution channels, the global halt on advertising spend, as well as the inability to host events for the foreseeable future, have made it impossible to continue trading, despite large amounts of personal funds having gone into AMP.
In her opening keynote at the Marie Claire Power Summit, Jane Raphaely noted that every day should be Women's Day. "Yesterday we lived in a man's world. Today we live in a woman's world... I've seen many things happen and I am yet to see women achieving true equality..." Here's what she believes we ought to do about it...
“This is the most difficult decision I have ever had to make,” said Julia.
For the last 38 years, AMP has been one of South Africa’s leading publishers and our titles have been part of many people’s lives. It's a big blow for magazine media brands in South Africa as they hold a special place in our country. We never thought this day would come, but we are left with no choice.
Julia expressed her great sadness at the distress the decision would cause. “We have a wonderful team of talented employees, as well as loyal suppliers and clients who will be affected. They have all been a valued part of AMP’s journey.”
An uncertain future
She added that AMP is incredibly proud of the magazine media brands it has cultivated over nearly four decades of business. “We are forever grateful to the people who have been involved and helped to build important media platforms and inspire millions of people across the country.
“The future of many industries is uncertain. AMP is currently dealing exclusively with trying to minimise the negative financial implications this terrible outcome will cause to creditors and staff.”
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.
I am truly sad to read this news. Thank you to the Raphaelys for the years of keeping APM alive and giving us as readers inspiration. Wishing you well from Cairns family
I am truly saddened to read this sad news, The Raphaelys have done so much to keep APM going. We thank you Julia for your faithfullness and perseverance and wish you and your family well for the future. Best wishes Reuben Cairns and family
Just too sad to be losing out on these lovely magazines. My husband and I did go places with the prizes that we won in the WIN SECTION of your magazines. My husband won THE WIN A TRIP TO PARIS WITH YOUR NOREVA COMPETITION in the GOOD HOUSEkeeping Magazine a few years back . This was the best most unforgettable holiday of my lifetime. THANK for a lifetime of memories. So sorry......
It’s a pity that the employees have been given no notice, only one months severance pay (regardless of how long they worked for you) and not even been paid for leave days owed. And all this while the directors walk away with lots of money. Shocking ethics.
Jane gave me my first to design a masthead for one of the earliest magazines. She was so supportive. She helped Janice Ashby Design Partnership achieve the success we enjoyed over the following twenty years. Very very sad to have to say goodbye to these great publications.