Last month, Alexandra Shulman, 59, editor in chief of British Vogue and architect of the magazine’s glittering centenary celebrations last year, shocked the fashion world by announcing that she was stepping down after 25 years.

The news broke during Paris couture week — when hundreds of industry insiders sit next to one another for hours on end, waiting for shows to start or at dinner parties — so speculation on possible successors immediately went into overdrive.

Now almost a month later, with the group reunited for the ready-to-wear season, the chatter shows no signs of abating. “I call it the ‘fashion week caldron,’” said Imran Amed, founder and editor of Business of Fashion, an industry news website. “It is the time of year when all rumors germinate and a story can reach fever pitch. And let’s face it, fashion folk really like to gossip.”

Still, word that Ms. Shulman will leave the job this summer set off the same levels of breathless conjecture usually reserved for the hirings and firings of A-list designers at top-tier fashion houses. It is an unusual response for a media masthead opening, and one that highlights the state of flux in the glossy magazine industry.

Ms. Shulman’s announcement came a month after the death of the celebrated Vogue Italia editor Franca Sozzani, so two of the three longest-serving Vogue editors will be gone (Anna Wintour, editor of American Vogue since 1988, is the third). New editors were installed last year at Vogue Spain, Vogue Brazil and Vogue Arabia. But the top job at British Vogue is one of the most visible in the Conde Nast publishing empire.

It is also one that rarely comes up for grabs. “As I said to Alex herself this week, this is the sort of job that only comes up once every 25 years,” Mr. Amed said. “This isn’t just about taking on the mantle of Vogue. It is a role with huge influence and power; you become a de facto spokesperson for the entire fashion industry.”

A number of names are now in the frame, with industry watchers placing odds on contenders.

Katie Grand, editor in chief of another Conde Nast title, Love magazine, and a consultant to a raft of big name brands such Marc Jacobs and Louis Vuitton, was widely touted early on, though many have highlighted that the job would bring inevitable conflicts of interest with her lucrative commercial relationships. The British Vogue deputy editor, Emily Sheffield, may have a fighting chance to succeed her longstanding boss, especially because she is also the magazine’s associate digital director, a handy title to have at a time when technological upheaval is rattling the foundations of the magazine business. Also in the mix are two contenders from the American branch of Conde Nast: Sally Singer, creative digital director at Vogue, and Edward Enninful, fashion and style director of W magazine. Meanwhile, Jo Ellison, the Financial Times fashion editor and a Vogue alumna, apparently has several fans among the newer faces in the Conde Nast boardroom. That could count for a lot, given the shake-ups underway in the international division.

“The timing is really interesting given the management reshuffle at Conde Nast,” said Jane Martinson, who leads The Guardian’s media coverage. Days before the news of Ms. Shulman’s exit became public, Nicholas Coleridge, Conde Nast International’s president of 26 years, announced his decision to step aside and take on the role of chairman.

Wolfgang Blau, now Conde Nast International’s chief digital officer, will become its president, and Albert Read, the publisher’s general manager, will take over as managing director of Conde Nast Britain. They are to assume their new roles on Aug. 1, while Ms. Shulman is to depart in June.

So the clock is ticking. But word on the front rows of the New York and London shows has been that the search for Ms. Shulman’s heir is far from complete. Several advertisements for the position have been published in recent weeks — the better to attract non-fashion or foreign candidates at a time when British Vogue’s voice must have more cross-generational and cross-border appeal than ever before if it is to survive. The application deadline is Feb. 26.

Possible contenders for the British Vogue crown

Emily Sheffield, British Vogue deputy editor

A loyal and longstanding deputy to Ms. Shulman, Ms. Sheffield, sister-in-law of former Prime Minister David Cameron of Britain, is said to be the front-runner among those on the magazine’s masthead.

Jo Ellison, Financial Times fashion editor

A former features editor of British Vogue, Ms. Ellison left the title in 2014 to become the fashion editor of the Financial Times. She is said to be highly admired by some executives in Conde Nast International’s boardroom.

Katie Grand, Love magazine editor in chief, stylist and consultant

Ms. Grand, a co-founder of Dazed and Confused, is now editor in chief of Conde Nast’s Love magazine, published twice a year. She is affectionately known as Katie-Grand-a-Minute, thanks to her ability to command eye-wateringly high consulting rates from big-name clients such as Miu Miu, Louis Vuitton, Marc Jacobs and Loewe.

Natalie Massenet, Net-a-Porter founder

Ms. Massenet, a former fashion journalist, founded the luxury e-commerce site in 2000 and left it in 2015. She is now the chairwoman of the British Fashion Council, and her next role has been the subject of endless debate among fashion insiders. Perhaps a long shot in the Vogue race, her name has been raised consistently.

Penny Martin, The Gentlewoman editor in chief

Ms. Martin’s is another name in the frame. Editor of the magazine The Gentlewoman since 2010, she was an editor in chief of SHOWstudio from 2001 to 2008 and chairwoman of the Fashion Imagery department at London College of Fashion from 2008 to 2011.

Source: /www.nytimes.com