Global digital luxury marketing and intelligence firm Digital Luxury Group announced today that it has acquired Luxury Society, an online community for luxury professionals.
With the goal of leveraging Luxury Society’s proprietary research capabilities, the transaction represents a mix of cash and shares. “Luxury brands, retailers and financial institutions are in need of actionable insights allowing them to make the right decisions and improve their competitiveness,” said Digital Luxury Group Founder and CEO David Sadigh. “Luxury Society’s news and community-based intelligence combined with our recognized proprietary research methodologies will set new standards in the industry.”
Digital Luxury Group holds offices in Geneva, New York, and Shanghai. The group is heavily active in researching online searches for luxury brands in China, and publishes its findings annually in is Luxury Society-partnered reports, the World Luxury Index and World Watch Report. Both reports include extensive coverage of Chinese-language searches for brands on Baidu and other Chinese search engines. According to the terms of the acquisition, Luxury Society will release these reports under its brand. For the 2014 edition of watch and jewelry fair Baselworld, Digital Luxury Group sent Chinese fashion blogger and key opinion leader (KOL) Peter Xu to report from the event.
Luxury Society connects industry professionals, journalists, consultants, designers, and analysts from more than 150 countries hailing from all sectors of the luxury industry. As of May 1, the network will undergo a shift in branding, and its to-be-redesigned website, intellectual property, and team will be managed by Digital Luxury Group.