SOURCE: Luxury Institute

February 20, 2007 11:00 ET

Luxury Institute Launches the Luxury Board: The World's First Online Best Practices Community for Luxury Goods and Services Professionals

NEW YORK, NY -- (MARKET WIRE) -- February 20, 2007 -- The independent New York City-based Luxury Institute announced the launch of the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs: The Luxury Board (www.luxuryboard.com).

The Luxury Board website is designed to gather, synthesize, and share the collective business knowledge of luxury professionals worldwide and to provide access to valuable research, ratings and reports from The Luxury Institute (www.luxuryinstitute.com). Qualified luxury professionals can join as individuals, regardless of their luxury category, affiliation or employment with a specific firm. Annual professional membership dues are $995.00.

The Luxury Board will provide a robust menu of benefits, including:

--  Access to the Luxury Institute's growing database of proprietary
    research, including summaries of wealthy consumer ratings for hundreds of
    luxury brands, wealthy consumer surveys, newsletters, and best-in-class
    secondary research on global wealth and luxury.
    
--  Best Practices and Benchmarking Surveys and Polls conducted with a
    global database of thousands of luxury executives, professionals and
    entrepreneurs.
    
--  Member-initiated collaborative projects, functional and multi-
    functional work groups, blogs and member-generated content.
    
--  Member peer-to-peer ratings of suppliers, vendors, consultants and
    other providers to the global luxury goods and services industry.
    
--  An opportunity to network, share stories, build relationships and
    referrals online and offline with successful luxury goods and services
    industry practitioners.
    
--  A commercial-free environment in which members interact, share and
    exchange experience-based knowledge with trust, privacy and security.
    
--  An Executive Search Center where members can post their resumes and
    view career opportunities focused exclusively on the global luxury goods
    and services industry.
    
"The Luxury Goods and Services industry is tremendously large globally but has always been artificially fragmented into silos," said Milton Pedraza, CEO of the Luxury Institute. "From luxury realtors and builders, to fashion designers, to automobile manufacturers and dealers, to yacht brokers and builders, to exclusive winery owners, boutique jewelers, to independent and affiliated wealth managers, to furniture designers, private jet services providers, to insurers, art dealers, luxury corporate executives, and many other professions; they all have one thing in common: they serve wealthy consumers across the globe. The Luxury Board brings the best of these professionals into one community that leverages their collective wisdom, for the benefit of all."

"Over the years, the Luxury Institute has received countless inquiries from luxury professionals asking for membership access to our impartial research and an independent online community where stories, business insights and best practices can be shared by members to better serve their wealthy customers," said Pedraza. "We recognize that customer-centric luxury professionals are striving every day to meet the needs and desires of their wealthy clients. Our new Luxury Board website will be an excellent forum to gain insights into serving this unique audience and will provide extraordinary value to its professional members."

The independent Luxury Board delivers state-of-the-art best practices and insights generated by the Board staff and members that are delivered at a fraction of the cost of leading research and consulting firms. Via this global network, members will have an opportunity to meet and collaborate with peers online and offline, to better serve their wealthy clients. For more information, or to become a member, visit www.luxuryboard.com.

About the Luxury Institute

The Luxury Institute is the uniquely independent and impartial ratings and research institution that is the trusted and respected voice of the high net worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net worth consumer rankings and ratings of luxury brands, and best practices. Publications include the monthly Wealth Report, the Luxury Brand Status Index surveys, the Luxury Best Practices surveys, the Luxury Consumer Experience Index surveys and the Luxury Website Effectiveness Index surveys.

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