Social networking site targets luxury brands

A social networking site targeting rich and affluent consumers under 35 years old launches later this month. The site, called, is a members-only site offering internet protocol TV and a focus on luxury.

The company behind the start-up, Square Media Ventures, which describes itself as a Web 2.0 internet broadcaster, says “aims to bridge the online gap in the luxury sector and the affluent 18to 35-year-old professionals market”. founders Olivier Bassil and Jeremy Genin say that the site will “move one step beyond the MySpace and YouTube generation” and will go up against other select sites, such as aSmallWorld. Bassil adds: “Leveraging social networks is a powerful sales and marketing tool. We want to help luxury brands increase their awareness among an engaged and highly influential audience.”

The site allows members to create their own online TV channels and showcase their lifestyles with like-minded individuals. It will carry shared, user-generated and professional video content, with a focus on four key areas: high living, nightlife, style and escape, which will centre on luxury travel. says it is talking to luxury brands about how to develop a more integrated approach to online marketing using social networking. will encourage members to comment on lifestyle trends, allow them to share their love of luxury brands, and make recommendations on the best products and services to buy, and the best events to attend.

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