The NPD Group, a leading market research company, announced that it has acquired LGI Network, which provides retail point-of-sale information on fine watches and branded jewelry. NPD tracks sales of fashion watches and other accessories through its consumer and retail tracking services.
The two companies' sales information will provide the industry's first holistic view of the watches and jewelry marketplace. LGI collects information from a panel of retailers including leading specialty stores and independents, complementing NPD's panel of department stores.
LGI, which is based in Randolph, NJ, will continue to operate independently for the first two years. Fred Levin, President LGI Network, will report to Rupert Walters, Group President for Entertainment & Communications, Beauty, Fashion & Sports at The NPD Group.
“With the acquisition of LGI Network, NPD gains strategic coverage of a key market segment and is well positioned to continue to build our business,” said Walters. “LGI's people, products, and expertise in the luxury market will enable us to introduce more services more quickly in the U.S. and will also provide a solid foundation for international expansion in the future.”
“We are excited to be joining NPD, an industry leader, and a company that shares LGI's commitment to safeguarding our brand and retailer's confidential data and maintaining strict objectivity standards. NPD has a longstanding reputation for providing critically important decision making information to clients. Under NPD, we will be able to offer our industry's first 360 degree view of what is happening at retail,” said Levin. “With consumer shopping habits evolving at an unprecedented pace, our clients will have the information and insights they need to understand and profit from these changes.”
The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,800 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, commercial technology, consumer technology, entertainment, fashion, food and beverage, foodservice, home, office supplies, software, sports, toys, and wireless.
LGI Network is the leading provider of retail measurement services to the U.S. watch and jewelry industry. Its Time Tracker and Branded Jewelry Tracker services provide brand and category-level sales information to over half the leading watch and branded jewelry companies including 8 of the largest 10 watch brands and to leading retailers representing over 5,500 storefronts across the United States. Executives and key marketing, merchandising and operating professionals use the service to monitor performance, new product and advertising investments, and production, as well as to develop strategy.
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