Luxury goods e-tailer Luxi Group, a private holding company focused on the luxury goods market, acquired Atlantic Time, an online retailer of luxury watches. The company said the acquisition “augments Luxi Group’s approach to e-commerce with an emphasis on segmented Web portals for distinct audiences.”
Atlantic Time has been a leading online portal for high-end and prestigious watch brands for more than a decade. Details of the acquisition weren’t released.
As with its April acquisition of Ashford.com, Atlantic Time will be led by Internet retailing entrepreneur Eli Katz, who oversees the Luxi Group in partnership with the Wechsler family, who are active in the diamond trade and jewelry manufacturing.
Katz is also founder and chief executive officer of The Inside Store (2004) and the online cosmetics site iBeauty in 1995, one of the earliest profitable e-commerce destinations. Katz was also chief executive officer of HomeClick.com.
“Atlantic Time has a fantastic history on the Web,” Katz said. “It has been selling high-end watches online for over a decade and has tens of thousands of customers out there. 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.”
Katz called Atlantic Time “one of the Internet’s best kept little secrets, a site that has consistently performed for its customers and has tremendous growth potential.”