Luxury fashion e-tail giant Farfetch has acquired Luxclusif, a technology platform specializing in the acquisition, authentication, and sale of second-hand luxury goods. The acquisition includes Luxclusif’s team, who will join Farfetch to enhance its resale capabilities. The company aims to focus on key technology and service features like automated pricing and expanding its resale service, Farfetch Second Life, to more geographic locations and categories.

The rise in luxury resale is driven by sustainability awareness and consumer demand for affordable luxury items. This has led to the emergence of various resale platforms and fashion rental services across different price points. Recently, Burberry also ventured into the rental and resale sector through a partnership with My Wardrobe HQ.

Luxclusif, founded in 2013, offers a comprehensive solution for the resale of second-hand luxury goods. The company collaborates with auctions, retailers, e-commerce platforms, and stores globally. Together, Farfetch and Luxclusif aspire to become the leading global platform for pre-owned luxury, catering to customers and industry partners alike.

Farfetch has been closely involved with Luxclusif for several years, initially through its start-up accelerator program, and more recently through its resale service. Luxclusif played a vital role in authenticating, pricing, and selling pre-owned handbags in Europe through Farfetch’s Second Life program. With this acquisition, the Luxclusif team will continue to operate the Second Life platform, integrating both existing and new partners, and selling pre-owned products acquired from specialist suppliers and luxury consumers.

Giorgio Belloli, Farfetch’s Chief Commercial and Sustainability Officer, expressed excitement about the acquisition, highlighting the opportunity to expand the company’s pre-owned offerings for customers, brand and retail partners, as well as other suppliers of pre-owned products. He emphasized the rapid growth of the pre-owned market and its increasing importance to luxury consumers and the industry as a whole.

Farfetch’s acquisition of Luxclusif solidifies its position as a leading player in the pre-owned luxury market. It demonstrates the company’s commitment to meeting the evolving demands of luxury consumers and aligning with the sustainability movement in the fashion industry. As sustainability continues to shape the industry, the resale market is expected to flourish, delivering economic and environmental benefits.

Links:
1. For more information on Farfetch, visit their website here.
2. To explore Farfetch’s Second Life program, click here.