FARFETCH Acquires Luxury Resale Platform LUXCLUSIF
Summary
Founded 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. For Second Life, LUXCLUSIF provided the platform in Europe to authenticate, price and then onsell pre-owned handbags submitted to the programme by customers in exchange for FARFETCH credit. 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. This will allow us to meet our goal of becoming the preferred partner for luxury brands and retailers through leading market innovation and the implementation of data backed solutions within resale.” Guilherme Faria, Co-founder and Chief Operating Officer, LUXCLUSIF, said: “ FARFETCH and LUXCLUSIF share a vision of a cleaner, conscious, circular and inclusive fashion industry and we are also aligned as tech enablers and industry leaders in our fields. Farfetch’s additional businesses include Browns and Stadium Goods, which offer luxury products to consumers, and New Guards Group, a platform for the development of global fashion brands.