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Everyone's been saying that these are bad times for luxury retailers. So it shouldn't be a shock that e-commerce site Eluxury, launched by LVMH in 2000, will be shutting down retail operations within the next six months. But it took us by surprise, especially since the site seemed to be doing well. According to an LVMH spokesperson, the company will transition the site to an "online magazine focusing on luxury markets." They stress that the change was spurred not by the site’s financials, but because many of the high-end brands carried by Eluxury now have their own web boutiques. Still, it's hard to believe that the economy had nothing to do with it. And far be it for LVMH to acknowledge poor performance.
· ELuxury.com to Shutter Retail Operation [WWD, subscription req]
· Eluxury [Official Site]