Luxury site to be re-launched by e-commerce and jewelry veterans NEW YORK, April 17 /PRNewswire/ -- Luxi Group, a private holding company focused on the luxury goods market, has acquired certain assets related to Ashford.com (http://www.ashford.com/) from Odimo Inc. (Pink Sheets: ODMO.PK). Luxi Group is led by Internet retailing entrepreneur Eli Katz in partnership with the prominent Wechsler family who are notable experts in the diamond and jewelry manufacturing trade. Luxi Group is to re-launch Ashford.com with a large selection of designer and brand name watches and other competitively- priced luxury products. One of the earliest luxury e-commerce sites on the Web, Ashford.com was launched in 1998 and today possesses a legacy of providing unmatched selection, price and service to millions of satisfied customers. By 2001, Ashford led the online luxury market with revenues exceeding $65 million. According to a March 2007 report by IDEX Online Research, U.S. online jewelry sales amounted to $2.45 billion in 2006, up from nearly 20% in 2005. As the online jewelry market continues to experience tremendous growth, it remains highly fragmented and lacks any real category leader. Luxi Group will use their combination of e-commerce and industry leadership to capitalize on click-and-mortar opportunities for the new Ashford.com. Ashford.com will be led by Eli Katz, a renowned e-commerce veteran. Mr. Katz is currently the chief executive officer of The Inside Store (http://www.insidestore.com/), which he founded in 2004. In 1995, he founded iBeauty, one of the Internet's earliest e-commerce sites, and following that was the CEO of HomeClick.com. Luxi Group is the retail holding company for an international jewelry and diamond manufacturing concern led by the Wechsler family. With a unique combination of technology and more than six decades of jewelry and diamond experience, Ashford.com will provide a vast selection at competitive prices. Luxi Group also plans additional acquisitions in 2007. "Ashford.com will epitomize Web 2.0 with a combination of e-commerce expertise and three generations with more than 60 years of experience in the jewelry and diamond manufacturing business," explained Eli Katz, president and CEO of Ashford.com. "As Luxi re-launches this famous site, we ensure that the Ashford.com legacy remains intact while delivering a customer experience that exceeds expectations on every level." Ashford.com will be truly international, and with fulfillment operations in Europe and the U.S will capitalize on the growing European and Asian demand for luxury products." Online consumers will begin to see changes to Ashford.com in the coming weeks and will experience the entirely redesigned site within the next 60 days. About Ashford.Com Dedicated to creating an exceptional shopping experience, Ashford.com provides next-day delivery, attractive gift packaging, and a 30-day money-back guarantee on all merchandise. Ashford.com offers a remarkable selection of luxury goods, including watches. Learn more at http://www.ashford.com/. About Luxi Group Headquartered in New York, Luxi Group is a private holding company focused on the retail sale of luxury goods directly to the consumer via the internet and other direct marketing channels. The Luxi Group is backed by a longstanding jewelry and diamond manufacturing enterprise. Additional information is available at http://www.luxi.com/. DATASOURCE: Ashford.Com CONTACT: Scott Rosenblum of RLM Public Relations, +1-212-741-5106 x230, , for Ashford.Com Web site: http://www.ashford.com/ http://www.luxi.com/

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