![]() “Luxclusif will help us accelerate our capabilities and reach in this area. Farfetch’s Conscious Luxury Trends Report 2020 showed that more than half of our customers have bought or sold pre-owned in the last year and industry estimates suggest the pre-owned category is growing three times faster than the primary market. The pre-owned market is growing extremely fast and is increasingly important to both luxury customers and to the luxury fashion industry as a whole. We aim to become the leading global platform for pre-owned luxury. ![]() ![]() Giorgio Belloli, chief commercial and sustainability officer, Farfetch said, “Luxclusif joining the Farfetch group allows us to expand the company’s pre-owned offer for our customers, for brand and retail partners and for other suppliers of pre-owned products. They will also be able to operate white-label pre-owned propositions for Farfetch Platform Solutions brand partners. Additionally, Luxclusif will continue to sell pre-owned product they acquire from specialist suppliers and luxury consumers through Second Life or similar programs they operate for other luxury industry partners. Following completion of the transaction, the Luxclusif team will operate Farfetch’s Second Life platform service, integrating both existing and new partners into the program. For Second Life, Luxclusif provided the platform in Europe to authenticate, price and then onsell pre-owned handbags submitted to the program by customers in exchange for Farfetch credit. Together, Farfetch and Luxclusif can leverage these capabilities and positioning to become the global platform for pre-owned luxury for both customers and industry partners.įarfetch has worked closely with Luxclusif for a number of years, first through its start-up accelerator program and most recently through Farfetch’s resale service, Farfetch Second Life. This will allow Farfetch to significantly accelerate its resale capabilities through the development of key technology and service features such as automated pricing, and faster geographic and category expansion of its resale service, Farfetch Second Life.įounded in 2013, Luxclusif is a B2B service provider with a successful turnkey solution enabling the acquisition, authentication and sale of second hand luxury goods to and from auctions, retailers, e-commerce platforms and stores worldwide. The acquisition includes Luxclusif’s technology platform, and the Luxclusif team will join Farfetch group. Tech company Alibaba Group and luxury goods holding company Richemont each invested approximately A$418 million into Farfetch in November last year.Farfetch Limited, a global platform for the luxury fashion industry, today announced that it has acquired resale platform Luxclusif for an undisclosed sum. Giorgio Belloli, Chief Commericial and Sustainability Officer at FARFETCHįarfetch was launched in 2008 and is one of the leading global platforms in the luxury fashion industry. LUXCLUSIF joining the FARFETCH group allows us to expand the company’s pre-owned offer for our customers, for brand and retail partners and for other suppliers of pre-owned products. ![]() Luxclusif’s employees will also join Farfetch in the take-over and support Farfetch’s integration of its new partners into the Second Life program. The acquisition will see Farfetch use Luxclusif’s technology to help accelerate the expansion of its own resale service, Second Life. Luxclusif sells its secondhand luxury goods to platforms like Vestiaire Collective. Luxclusif is a B2B service provider “with a successful turnkey solution enabling the acquisition, authentication and sale of second hand luxury goods to and from auction, retailers, e-commerce platforms, and stores worldwide”. The leading luxury fashion platform announced last week that it is acquiring the luxury resale site, Luxclusif in a bid to expand its presence in the growing luxury resale market. Projected to grow to A$93 billion by 2028, the resale market is being recognised as a prime profit opportunity by luxury fashion brands and e-tailers, including Farfetch.
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