Having established that its January-to-June debut ABC figure, to be revealed in August, will exceed its targets, Emap is also considering hiking the magazine's ad rates.
David Davies, the managing director of Grazia, said: "Normally, if there is an increase of more than 5 per cent, negotiation starts again, so there is a possibility that we will put our rates up."
Emap announced Grazia's new cover price in a letter sent to media agencies earlier this week. This explained that the premium price reflected the positioning of Grazia as a premium product that would attract upmarket women.
Davies said: "It was always planned to up the price. We have significantly beaten copy-sales targets and now we are driving the quality of our audience."
However, press buyers warned that an attempt by Emap to raise ad rates would mean that fewer clients would use the title.
One said: "It would be a very foolish move for Emap to put up the ad rates on Grazia. It has been struggling with its ad ratio enough as it is."
Another media agency source said: "Clients with a broad target audience don't need to use Grazia and won't if it's more expensive. It's about supply and demand.
"If the demand (for advertising in Grazia) isn't there, then hiking its prices is not going to increase this."
Davies denied that Grazia was having any problems attracting advertisers.
"We're close to taking £2 million in ads and are outperforming in terms of the value we're giving advertisers," he said.
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