Esquire to close in Japan

The Hearst Corporation-owned magazine has reportedly been hit by a sharp drop in advertising revenue in the market since the onset of the global economic downturn.

Ad spend on magazines in Japan in 2008 fell by more than 11 per cent year-on-year, according to a report by Dentsu.

Esquire made its Japanese debut at the height of the ‘bubble’ economic period in 1987. It has a monthly circulation of 60,000.