The magazine will be published by Amuse Media, an independent media company based in Covent Garden.
Sasha Slater, former editor of ES Magazine, has taken on the role of editor and Stephanie Hirschmiller, former editor of HarpersBazaar.co.uk, has assumed the role of deputy editor.
Overseeing the beauty pages will be Arabella Preston and Bethan Cole, who have been appointed to the roles of beauty editor and beauty columnist respectively.
Other contributors include Sadie Frost and Iris Law, Vogue's Lauren Cochrane, wine critic Victoria Moore, interior designer Kelly Hoppen, and fashion designers David Koma and Alessandra Rich.
Distribution will be handled by uniformed merchandising teams handing the magazine to commuters at 75 central London tube stations, and 20,000 copies will be available for self-selection in a variety of health clubs, spas, city offices and first class airport lounges.
The launch issue will include interviews with Gwyneth Paltrow, Stella McCartney, Norah Jones and Selfridges' Alannah Weston.
Slater said: "We are here to give London what it so deserves – a glossy magazine all to itself. We get to shout about the people who make our city the capital of the world."
Amuse will offer a mixture of arts and culture, fashion and beauty, shopping and lifestyle, all with a focus on what's happening right now at the heart of the city.
Alongside print, the offering will include digital and social media, as well as an app due to launch in September.
Commercial operations will be headed by Christian Price, a former group advertising director at upscale magazine publisher Condé Nast, as commercial director.
Stephen Murphy, who is the publisher of aMuse and was involved in the launch of Square Mile, a free magazine targeting City workers, said: "Free magazines are a major part of the evolving media landscape.
"When we launched Square Mile in 2005, the only free media was Metro. Nearly seven years on, advertisers appreciate the benefit of free. We invest in content and quality – that brings the readers – and then the advertisers follow."
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