Farfetch fashion

Farfetch has acquired Luxclusif for an undisclosed sum | Source: Farfetch Facebook

Farfetch Acquires Luxclusif in Bid to Expand its Resale Offerings

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.

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.

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”. Luxclusif sells its secondhand luxury goods to platforms like Vestiaire Collective.

The acquisition will see Farfetch use Luxclusif’s technology to help accelerate the expansion of its own resale service, Second Life. 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.

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. We aim to become the leading global platform for pre-owned luxury.

Giorgio Belloli, Chief Commericial and Sustainability Officer at FARFETCH

Farfetch was launched in 2008 and is one of the leading global platforms in the luxury fashion industry. Tech company Alibaba Group and luxury goods holding company Richemont each invested approximately A$418 million into Farfetch in November last year.

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