Meanwhile, PayPal acquires mobile payments firm Paydient.
ELuxury.com will close the e-commerce side of its web site over the next six months. The site will continue as an online magazine focusing on luxury markets.
ELuxury.com will close the e-commerce side of its web site over the next six months. The company, owned by LVMH Moët Hennessy Louis Vuitton, plans to continue as an online magazine focusing on luxury markets.
Closing eLuxury.com’s retail operation was not based on the site’s financial performance, the company says, but because many of the brands it sells have developed their own online presence. ELuxury.com had sales of $90 million in 2007, a 20% increase from the prior year, according to Internet Retailer estimates. The company is No. 129 in the Internet Retailer Top 500 Guide.
ELuxury.com began as an online luxury retailer in 2000, offering designer apparel and accessories, beauty and children’s collections from such brands as Christian Dior, Marc Jacobs, Versace, Dolce & Gabbana, and a Louis Vuitton boutique.
Starting in mid 2009, eLuxury will “create an ‘e-window’ into the world of luxury, by serving as an information reference for luxury in fashion, art, leather goods, wines and spirits, watches and jewelry, gastronomy, cars, yachts, and services,” a spokeswoman for LVMH says.