Vanity Fair did a redesign in 2013 for the typeface. They originally used “Didot”, but then Chris Dixon came and created a “fresh interpretation” of it named “Vanity Fair Sans.” The magazine now uses different versions of this custom typeface for all uses of content: from heads to captions.
There’s a straight version of the font and a more italicized look to it. They then use different sizes to determine what part of the magazine it will be used for. For example, size 2 is used for covers and feature heads. I think the italics version has a type of old-elegance to it and the straight version gives it a more modern look.
The typeface is very geometric and has a very retro-feel to it. Something similar to The Great Gatsby which I think gives adds to the magazine’s sophistication and class.