Luxury lifestyle media and event group Heart Media on Monday announced a strategic investment in Hong Kong-headquartered online luxury marketplace Luxify. No financial terms were disclosed.
Luxify offers luxury products including supercars, yachts, luxury watches and rare antiques, and experienced for sale with an inventory worth more than $160 billion.
In a statement, the media and event group said the investment in Luxify further enhances its digital portfolio.
“The strategic partnership and investment in LUXIFY is an important step for Heart Media. We look forward to exploring all possible synergies between LUXIFY and our Group. Through our premier events, online presence and database of affluent consumers, we are fully confident that we will further strengthen LUXIFY’s first mover advantage as the leading global luxury marketplace,” said Olivier Burlot, CEO at Heart Media Group.
“This is a substantial turning point for us as we welcome Heart Media as a shareholder and strategic partner. The synergies with Heart Media are clear and this investment validates the strong growth LUXIFY has enjoyed over the past 5 years. This partnership will add great value to our dealers by providing a whole new affluent audience for their products.” said Alexis Zirah, CEO of Luxify.