Miroslava Duma is over-and-out at Buro 24/7. After being absent from the recent Fall/Winter 2018 runway shows, the Russian street style star and editor-turned-digital entrepreneur and investor took to her personal Instagram on Friday to announce that she has sold her stake in Buro 24/7, the digital media brand she co-founded in 2011. According to media sources, as reported by WWD, "Buro 24/7 saw a drop of its advertising sales in the last few months" after imagery and a video surfaced of the Russian digital entrepreneur making racist and transphobic comments.
In her post, Ms. Duma writes, “I am announcing today that I am to sell my stake and make an official exit from Buro24/7, a digital media brand that I co-founded in 2011, which has now grown to 11 successful international editions and nearly 130 employees globally. Having stepped away from Buro24/7 operational activity over a year ago, this final stage with the sale of my stake was a strategic plan and now feels like a natural step forward.”
But do not expect Duma to go disappear from the fashion industry anytime soon. According to her Instagram post, Duma, who heads up fashion/tech “investment company, multinational accelerator, and experimental laboratory” Future Tech Lab: “This exit will allow me to focus on the development of Future Tech Lab, and other yet unannounced personal projects, as well as making more time to spend with my young family.”
While Buro 24/7 might be losing advertiser steam, Duma, herself, has maintained widespread industry support. The board of the Future Tech Lab reads like long list of who’s-who in fashion.
The page identifying the individual members of the Future Tech Lab advisory board has disappeared from the company's website, but as of late last year, it included: Carmen Busquets, fashion-tech entrepreneur and investor (Net-a-Porter, Moda Operandi, Farfetch, Lyst, and Business of Fashion, among many others); Diane Von Furstenberg, Founder of DVF and Chairwoman of the Council of Fashion Designers of America; Stella McCartney, designer; Livia Firth, Founder and Creative Director of EcoAge; Diego Della Valle, Chairman and CEO of Tod’s Group; Alexandre Arnault, Co-CEO of Rimowa; Laura Arrellaga-Andreessen, entrepreneur, Stanford lecturer, philanthropist and NYT bestselling author; Austin Hearst, media executive and investor; and Gabriela Hearst, philanthropist and fashion designer.
As for the Future Tech Lab's "mentors,” they include: Ian Rogers (Chief Digital Officer, LVMH); Caroline Rush (Chief Executive, British Fashion Council); Burak Cakmak (Dean, Parsons School of Design); Alexandre de Betak (Founder, Bureau Betak); Natalia Vodianova (Founder, Naked Heart Foundation); and Julie Gilhart (Founder, Julie Gilhart Consulting).