Fashionphile Acquires Luxe Collective
Fashionphile has acquired Luxe Collective's IP and assets to launch in the UK, expanding its presence in the European luxury resale market.
The US-based luxury resale platform acquired the intellectual property, customer database, and social media channels of the luxury British pre-loved marketplace Luxe Collective, which shut down earlier this year after a break-in at its warehouse resulted in over 500,000 pounds in stock being stolen.
“This acquisition allows us to combine Luxe Collective’s cultural relevance and strong community with Fashionphile’s scale, technology, and authentication expertise,” said Ben Hemminger, co-founder and chief executive of Fashionphile.
- Expands Fashionphile's presence into the European luxury resale market
- Allows the platform to enter the UK and European markets
- Part of Fashionphile's strategy to become the “world’s most sought-after brand for buying and selling ultra-luxury accessories”
Author's summary: Fashionphile expands into the UK market with Luxe Collective acquisition.