Tyler Brule's Monocle magazine valued at $115m

So maybe that's why he can afford the Italian furniture collection. 

Tyler Brule, the FT columnist known for his luxurious lifestyle, has sold a minority stake in his global affairs magazine Monocle to Japanese newspaper publisher Nikkei Inc. 

The deal values Monocle, which was launched in 2007, at about $115m. The size of Nikkei's investment was not disclosed, but was below $10m. 

"This says we're in a very good place," Mr Brule said. "We started with €10m-ish of capital in 2007." 

Partnering with Nikkei is intended to allow Monocle to develop its media franchise, while giving Nikkei an English-language platform to expand its presence in Asia. 

The deal is the latest sign of dynamism in the media industry, with some publications shrugging off concerns over falling advertising and weak digital revenues. Buzzfeed, the insurgent viral news site, raised $50m from venture capital firm Andreessen Horowitz last month. 

Mr Brule said Monocle was profitable mainly thanks to its monthly magazine. The title's print circulation rose 4 per cent year on year in the first half of 2014 to 77,030, mostly outside the UK - and now sells about half as many copies as Conde Nast's GQ. The upcoming October edition has attracted more than $1m in print advertising, he said. 

Nikkei is one of Japan's largest publishers, with sales of nearly £1bn last year and an English-language business publication, Nikkei Asian Review.  

Its chief executive Tsuneo Kita said Monocle had "grown rapidly to boast a core readership of thought leaders around the world and through this wide-reaching partnership, the Nikkei Group will be able to further boost its global reach". 

As well as its magazine, Monocle has expanded into podcasts, travel guides and shops. 

"Most monthlies struggle with digital. We've said we can't find a [business] model for tablets . . . but we have done things like radio," said Mr Brule, 46. 

Critics say that his media franchise - which has recently published articles on fresh produce in Helsinki and networking in airports - is patronising and elitist.

"We do serious journalism," Mr Brule said. "There's a London view of our magazine that is a little blinkered." 

"I spent my time in Afghanistan. I've been shot," he added referring to an incident in 1994 when he was covering Medecins Sans Frontieres' work in the country.

Mr Brule and his partners continue to own about 80 per cent of Monocle. He sold his previous magazine venture, Wallpaper, to Time Inc for a reported $1.6m in 1997.

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