Farfetch acquires luxury resale platform Luxclusif
The acquisition happens after several years of collaboration between the two platforms, a relationship that first began through Farfetch's startup accelerator program.
The Portuguese-British luxury fashion platform Farfetch announced on Thursday that it has acquired Luxclusif, a platform for reselling second-hand luxury fashion.
“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,” said Giorgio Belloli, Chief Commercial and Sustainability Officer of Farfetch, quoted in a statement sent to the press this Thursday.
“Farfetch is the ideal home for Luxclusif as we seek to scale even further. Together, we are very much focused on growing the resale market through innovation and tailored solutions,” explained Rui Rapazote, co-founder and Chief Executive Officer of Luxclusif, also adding that this deal will allow them to meet the goal of “becoming the preferred partner for luxury brands and retailers through leading market innovation and the implementation of data backed solutions within resale.”
The acquisition happens after several years of collaboration between the two platforms, a relationship that first began through Farfetch’s startup accelerator program and most recently through the company’s resale service, called ‘Farfetch Second Life’, where the Luxclusif team will operate.
“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,” Farfetch stated.
Founded in 2013, Luxclusif is a B2B service provider with a turnkey solution enabling the acquisition, authentication and sale of second hand luxury goods to and from auctions, retailers, e-commerce platforms, and stores worldwide.
