Luxi Group, a private holding company in New York focused on the luxury goods market, has acquired certain assets related to Ashford.com from Odimo for $400,000.
Luxi Group said in a statement that it will relaunch Ashford.com with a large selection of designer and brand name watches and other luxury products. The group is led by Internet retailing entrepreneur Eli Katz in partnership with the Wechsler family, veterans of the diamond and jewelry manufacturing trade. Ashford.com was launched in 1998, and in 2001 it led the online luxury market with revenues exceeding $65 million. Katz will become president and CEO of Ashford.com.