French Connection founder and chairman and chief executive Stephen Marks is one of the backers of a new free women’s magazine set to take on the likes of Grazia and Marie Claire.
The magazine is codenamed Project Y and is to be distributed at train and tube stations in six UK cities from autumn, according to The Daily Telegraph. It will have an initial circulation of 400,000.
Other backers of Project Y are understood to be Beano publisher DC Thomson and film director Matthew Vaughan.
Project Y will be the second launch from former IPC and Emap executive Mike Soutar’s Shortlist Media.