Ashford.Com Acquired by Luxi Group
17 Avril 2007 - 9:00AM
PR Newswire (US)
Luxury site to be re-launched by e-commerce and jewelry veterans
NEW YORK, April 17 /PRNewswire/ -- Luxi Group, a private holding
company focused on the luxury goods market, has acquired certain
assets related to Ashford.com (http://www.ashford.com/) from Odimo
Inc. (Pink Sheets: ODMO.PK). Luxi Group is led by Internet
retailing entrepreneur Eli Katz in partnership with the prominent
Wechsler family who are notable experts in the diamond and jewelry
manufacturing trade. Luxi Group is to re-launch Ashford.com with a
large selection of designer and brand name watches and other
competitively- priced luxury products. One of the earliest luxury
e-commerce sites on the Web, Ashford.com was launched in 1998 and
today possesses a legacy of providing unmatched selection, price
and service to millions of satisfied customers. By 2001, Ashford
led the online luxury market with revenues exceeding $65 million.
According to a March 2007 report by IDEX Online Research, U.S.
online jewelry sales amounted to $2.45 billion in 2006, up from
nearly 20% in 2005. As the online jewelry market continues to
experience tremendous growth, it remains highly fragmented and
lacks any real category leader. Luxi Group will use their
combination of e-commerce and industry leadership to capitalize on
click-and-mortar opportunities for the new Ashford.com. Ashford.com
will be led by Eli Katz, a renowned e-commerce veteran. Mr. Katz is
currently the chief executive officer of The Inside Store
(http://www.insidestore.com/), which he founded in 2004. In 1995,
he founded iBeauty, one of the Internet's earliest e-commerce
sites, and following that was the CEO of HomeClick.com. Luxi Group
is the retail holding company for an international jewelry and
diamond manufacturing concern led by the Wechsler family. With a
unique combination of technology and more than six decades of
jewelry and diamond experience, Ashford.com will provide a vast
selection at competitive prices. Luxi Group also plans additional
acquisitions in 2007. "Ashford.com will epitomize Web 2.0 with a
combination of e-commerce expertise and three generations with more
than 60 years of experience in the jewelry and diamond
manufacturing business," explained Eli Katz, president and CEO of
Ashford.com. "As Luxi re-launches this famous site, we ensure that
the Ashford.com legacy remains intact while delivering a customer
experience that exceeds expectations on every level." Ashford.com
will be truly international, and with fulfillment operations in
Europe and the U.S will capitalize on the growing European and
Asian demand for luxury products." Online consumers will begin to
see changes to Ashford.com in the coming weeks and will experience
the entirely redesigned site within the next 60 days. About
Ashford.Com Dedicated to creating an exceptional shopping
experience, Ashford.com provides next-day delivery, attractive gift
packaging, and a 30-day money-back guarantee on all merchandise.
Ashford.com offers a remarkable selection of luxury goods,
including watches. Learn more at http://www.ashford.com/. About
Luxi Group Headquartered in New York, Luxi Group is a private
holding company focused on the retail sale of luxury goods directly
to the consumer via the internet and other direct marketing
channels. The Luxi Group is backed by a longstanding jewelry and
diamond manufacturing enterprise. Additional information is
available at http://www.luxi.com/. DATASOURCE: Ashford.Com CONTACT:
Scott Rosenblum of RLM Public Relations, +1-212-741-5106 x230, ,
for Ashford.Com Web site: http://www.ashford.com/
http://www.luxi.com/
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