LuxeYard Acquires Leather Furnishings Specialty Site LeatherGroups.com

LuxeYard, the boutique luxury flash-sale site, announced that it signed an agreement to acquire LeatherGroups.com, the online division of Solana Beach, Calif.-based furniture retailer homeLOFT. Terms of the deal weren't disclosed. The transaction was led by LuxeYard CEO Braden Richter and coincides with the creation of an acquisitions team, which will be based in LuxeYard's New York office. The company is actively pursuing several other acquisitions as part of its effort to consolidate the flash-sale category and to reinvent the future of social and mobile e-commerce with its concierge buying and group buy technologies.