Luxi Group, LLC announced today the sale of high-end luxury watch online retailer, AtlanticTime.com, to TheWatchery.com. AtlanticTime.com's product offering and customer base is focused on the high-end and specialty niche watches. TheWatchery.com, a recognized luxury watch online retailer, will utilize AtlanticTime.com to spur their growth in the high-end luxury marketplace.
Eli Katz, chief executive officer of Luxi Group, explained, "We are focused on re-launching the Ashford.com brand, which has traditionally catered to the mid-market luxury watch segment.
AtlanticTime.com is a fantastic web property with a great selection of luxury watches and a superb reputation of servicing Internet clients. Strategically, Ashford.com's focus on the wider web audience is at odds with AtlanticTime.com's highly targeted luxury focus."
"When servicing the luxury online consumer, a brand built on a foundation of trust and excellence in service is critical. Acquiring AtlanticTime.com, a well established brand, will create an environment where both AtlanticTime.com and TheWatchery.com will build their brands off each other, enabling us to service our customers more effectively, and bring unparalleled credibility and unbeatable pricing to the online luxury watch marketplace," said Joseph Levy, president of TheWatchery.com
Rock Island Group, a business development and marketing firm, led by Zevi Friedman, was instrumental in structuring the deal, and will service the integration of AtlanticTime.com into TheWatchery.com's infrastructure, as well as their search marketing and web 2.0 needs. "According to Comscore networks market data, the luxury watch marketplace online is growing tremendously, posting a 66% growth in dollars spent last year, leading the entire online retail industry. This transaction will allow both Luxi group, and TheWatchery.com, to focus their efforts on their respective marketplaces prior to the onset of the holiday season. It will also allow them to service and grow with the rapidly increasing demand and dollars spent on luxury watches online," noted Mr. Friedman.
About Ashford.com
Founded in 1997, Ashford was one of the earliest e-commerce websites and has built a reputation as the internet's leading luxury superstore. Ashford offers a large selection of luxury products from fine jewelry to brand name watches at competitive prices and superior service. With unmatched 60 day return policy, free shipping, and free gift packaging, Ashford differentiates itself from other websites by standing behind the products it sells and carrying a selection of products from well known brands such as Citizen Watch, Seiko, Bulova, Hamilton Watches and other fine brands. The Ashford selection can be viewed at http://Ashford.com or by calling one of Ashford's product specialists at 866-ASHFORD (866-274-3673).
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.
About TheWatchery.com
Founded in May 2002 by Joseph Levy, TheWatchery.com services the high-end luxury watch marketplace and boasts a 100% Ebay feedback rating, with thousands of reviews, as well as a constant ranking in the top two positions of the internet top 100 watch retailers list. TheWatchery.com has been posting triple digit growth in revenue each year for the last three years. For more information please visit http://TheWatchery.com .
About Rock Island Group
Rock Island Group is a full service Marketing and Business Development firm headquartered in New York City. The services offered at Rock Island Group range from the traditional tried and true marketing practices to the latest emerging and innovative Web 2.0 applications. To learn more about Rock Island Group please visit http://Rockislandgroup.com