Conde Nast has yet to reveal the name of the new magazine, which will arrive on newsstands in March 2009.
Former POP editor-in-chief Katie Grand will edit the new title. Prior to launching POP, Grand worked on Dazed & Confused and The Face. She also works as a stylist and consultant with brands such as Louis Vuitton, Loewe and Giles Deacon, among others.
Nicholas Coleridge, managing director of Conde Nast, said it was a new departure for the group to publish an edgy, high-end style title in this sector.
Grand added: 'I'm really looking forward to building up a new magazine from scratch again - a fresh start is always fun, and we have lots of ideas we can't wait to start working on.'
While women's weekly titles have continued to decline in circulation, glossy monthlies have been performing well, with increases across the board of more than 12% for the first six months of this year compared with the same period in 2007.
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