Luxi Group Acquires Atlantic Time |
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By: Luxi Group Posted: 2007-05-23 08:54:40 |
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Luxi Group (http://www.luxi.com), a private holding company focused on the luxury goods market, announced today it has acquired Atlantic Time (http://www.atlantictime.com). The acquisition augments Luxi Group's approach to e-commerce with an emphasis on segmented Web portals for distinct audiences.
Atlantic Time has been premier portal for luxury watches for more than a decade and combines products from many high-end and prestige brands with expertise and consumer education. As with its recent acquisition, Ashford.com, Atlantic Time will be led by e-commerce veteran Eli Katz, current chief executive of The Inside Store (http://www.insidestore.com), which he founded in 2004. Katz was also founder of online cosmetics leader iBeauty in 1995, notable for being among the earliest profitable e-commerce destinations. Katz was also CEO of HomeClick.com. "Atlantic Time has a fantastic history on the Web. It has been selling high-end watches online for over a decade and has tens of thousands of very happy customers out there," notes Katz. "By segmenting our sites to target distinct consumer demographics and leveraging sophisticated backend technologies we provide the right product for the right customer at the right time. Atlantic Time is one of the Internet's best kept little secrets, a site that has consistently performed for its customers and has tremendous growth potential." And, according to an April 2007 report by IDEX Online Research, fine watches were the only jewelry category to gain market share in '06. Sales of fine watches were approximately $5.3 billion in 2006, up 11 percent from previous year. This gain is well above total sales increases for all jewelry, indicating that fine watches took significant market share from other categories. ABOUT ATLANTIC TIME Atlantic Time has been offering brand name luxury watches on the Web for more than a decade. The Company offers an extensive selection of luxury watches at competitive prices, outstanding customer support and extremely knowledge product specialists. Atlantic Time is committed to providing customers with guaranteed 100% satisfaction. Please log on to http://www.atlantictime.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 (at http://www.ashford.com and http://www.atlantictime.com) and other marketing channels. Luxi Group is backed by a longstanding jewelry and diamond manufacturing enterprise combined with seasoned internet and ecommerce expertise. Additional information is available at http://www.Luxi.com. |
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