Digital Luxury Group Acquires Social Networker Luxury Society
April 15 (Bloomberg) — Digital Luxury Group, a marketing consultant, said it acquired social networking and news company Luxury Society, to expand its research on the market for high- end goods.
The transaction, made up of a mix of cash and shares, enables Geneva-based DLG to add “community-based intelligence” and events to its research offer, while giving it a presence in Paris, the company said today in a statement. Financial terms were not disclosed.
Luxury Society is a social network for luxury executives, journalists and designers with 30,000 members in 150 countries. The combined entity will track more than 400 brands across 20 markets. DLG, which covers Swiss watches and other luxury goods, also has offices in New York and Shanghai.
To contact the reporter on this story: Andrew Roberts in Paris at aroberts36@bloomberg.net To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net Thomas Mulier, Marthe Fourcade
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