Luxi Group adds luxury watch e-retailer AtlanticTime.com
Luxi Group, a private holding company focused on the luxury goods market, has acquired Atlantic Time. The purchase furthers Luxi Group’s approach to e-commerce emphasizing niche web portals. Terms were not disclosed.
Atlantic Time has been a portal for luxury watches for more than a decade and features products from high-end brands. Prices range from hundreds to hundreds of thousands of dollars.
Atlantic Time will be led by Eli Katz, CEO of The Inside Store, which is No. 453 in the Internet Retailer Top 500 Guide. Atlantic Time’s web site, AtlanticTime.com, joins Luxi Group’s April acquisition of Ashford.com
“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,” Katz says.
Ashford.com also is being positioned as a source for designer and brand name watches and other luxury products by Luxi Group. The group is led by Katz in partnership with the Wechsler family, which has expertise in diamond and jewelry manufacturing. The business was founded by Samuel Wechsler in 1951. Second- and third-generation family members now operate the company out of New York, Antwerp, Tel Aviv and Bombay.
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