Ashford's Guild.com Will Become Independent CompanyGifts e-tailer Ashford.com yesterday announced the spinoff of its art division, Guild.com, as an independent company effective July 31.
After the divestiture, the two companies will become strategic partners sharing revenue from Guild.com art sales on Ashford.com and partnering on a variety of marketing opportunities.
Ashford acquired Guild.com in January. Ashford will retain a minority equity interest in Guild.com, and Guild.com shareholders will continue to own Ashford stock.
Ashford.com, Houston, sells corporate and personal gifts. Guild.com sells home furnishings, fine art and jewelry.