Lucky, the Conde Nast magazine "about shopping," looks like it's turning into a straight-up catalog. In a slightly convoluted press release today, Conde announced that it's spinning off the mag into The Lucky Group, "a wholly independent entity, which brings together Lucky and e-commerce platform, BeachMint." So, a shopping site. But what will happen to the print mag?

Conde says Lucky editors will still put together a magazine, and that this new e-commerce venture is just a fun, money-making addition to the brand. There are a few reasons that seems unlikely.

In the press release, Conde announced that "all of Lucky's editorial and business teams are expected to join" The Lucky Group, and that Lucky editor-in-chief Eva Chen has been named the Chief Creative Officer of new company. Lucky is not moving to Conde's new offices in One World Trade Center—Chen told Adweek that The Lucky Group is looking for space in Flatiron, "closer to other fashion and tech start-ups." She also said, perhaps defensively, "My fashion editors won't suddenly become merchandisers."

Back in April, Page Six reported that Lucky was folding, and Conde and Chen denied it. In a memo to staff, Chen called the report "recycled rumors from years past" and linked to this video:

So, what's going on? If the print mag kicks the bucket, I'll always remember the happy summer days I interned there during college, refilling a certain editor's water glass while she was in the bathroom because she didn't like to see my face. Maybe it's better they're all getting out of Conde Nast.

If you know anything about what's happening at Lucky, email allie@gawker.com.

[Image via Lucky]