Luxclusif, a luxury reselling marketplace, has been purchased by Farfetch Limited for an unknown price. Through the development of important technical and service features like as automated pricing and quicker regional and category expansion of Farfetch Second Life, Farfetch wants to greatly accelerate its resale capabilities. Farfetch will be acquiring Luxclusif’s technological platform as well as its staff.
The Luxclusif team will run Farfetch’s Second Life platform service when the deal is completed, incorporating both current and programme. As a result of Luxclusif’s Second Life and other luxury sector partnerships, Luxclusif will continue to offer pre-owned products they purchase from premium consumers. Additionally, they will be able to run white-label pre-owned proposals for Farfetch Platform Solutions’s partner brands.
A joint statement from Farfetch and Luxclusif stated that the two firms’ combined strengths and positioning will allow them to become the world’s pre-owned luxury marketplace for both partners. Throughout the years, Luxclusif and Farfetch have collaborated on a variety of projects, including Farfetch’s start-up accelerator Farfetch Second Life. Luxclusif provides the European infrastructure for Second Life to validate, price, and ultimately resell pre-owned handbags supplied by users in return for Farfetch credits.Farfetch is the appropriate home for Luxclusif as we want to go even further,” stated Rui Rapazote, CEO of Luxclusif. Through innovation and customised solutions, we are working together to expand the market for resale.”
Luxclusif’s acquisition into the Farfetch group allows us to extend our pre-owned offerings for our consumers, for our brand and retail partners, pre-owned items. In this area, Luxclusif grow and expand our skills. Our commitment to nurture and grow some of today’s most promising fashion has come to a thrilling conclusion with Luxclusif joining the Farfetch family.”