Ashford's Will Become Independent Company

Gifts e-tailer yesterday announced the spinoff of its art division,, as an independent company effective July 31.

After the divestiture, the two companies will become strategic partners sharing revenue from art sales on and partnering on a variety of marketing opportunities.

Ashford acquired in January. Ashford will retain a minority equity interest in, and shareholders will continue to own Ashford stock., Houston, sells corporate and personal gifts. sells home furnishings, fine art and jewelry.

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