Luxi Group to Relaunch Ashford.com
April 17, 07
Retail holding company Luxi Group announced Tuesday that it will relaunch Ashford.com, an online luxury retailer, after acquiring company assets from Odimo Inc for $400,000.
Luxi Group is a private holding company dealing primarily with Internet sales of luxury goods. It is headed by entrepreneur Eli Katz and the Wechsler family, who are active in diamond and jewelry manufacturing. Katz, who is also the CEO of home renovation and design Inside Store, will head Ashford.com.
Ashford.com was launched in 1998, and by 2001, its revenues exceeded $65 million. The Ashford.com website will be completely redesigned within the next 60 days, says the company.
Odimo Inc. was active in e-commerce, owned Diamond.com and WorldOfWatches.com. Faced with continuous losses, the company eventually sold Diamond.com to rival Ice.com.