TechCrunch reports that publishing giant Conde Nast (Germany) has made its first investment in e- commerce. The company has invested in ReneSim, Europe’s first online jeweller in the exclusive luxury sector.
This may be an usual investment to many as Conde Nast is known for acquiring and investing in publications such as Allure, Vogue, Glamour and W magazine (just to name a few). However, Conde Nast has own shares in the jewelry company since 2011 and has decided to raise its stake to 46%.
Since the investment of Conde Nast, ReneSim has seen substantial growth and has expanded across Europe.
So with this latest investment, a few questions remain: Is Conde Nast looking to enter new markets? Will there be any acquisitions in the works for Conde Nast?
Condé Nast is home to some of the world’s most celebrated media brands. In the United States, Condé Nast publishes 18 consumer magazines, four business-to-business publications, 27 websites, and more than 50 apps for mobile and tablet devices, all of which define excellence in their categories.
ReneSim is Europe’s first online jeweller in the exclusive luxury sector – combines the advantages of modern e-commerce with 175 years of family tradition of the company’s co-CEO, Maximilian Hemmerle.
By Lolita A. Alford
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