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.
Together, the two companies’ sales information will provide the industry’s first holistic view of the watch 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 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.”