Farfetch acquires resale platform Luxclusif

Farfetch has bought resale platform Luxclusif, a move which will enable the luxury retailer to “significantly accelerate” its resale capacities.

Luxclusif’s technology platform is included in the acquisition and the team will all join the Farfetch group.

The platform is a business-to-business data driven service which provides authentication, acquisition and sale of pre-owned luxury items to and from auctions, retailers, ecommerce platforms and stores around the world.

Farfetch has collaborated with the platform for a couple of years, first through its start-up accelerator program and recently with its resale service Farfetch Second Life.

READ MORE: Farfetch posts profit despite ecommerce rub-off

“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,” Farfetch chief commercial and sustainability officer Giorgio Belloli said.

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

“The pre-owned market is growing extremely fast and is increasingly important to both luxury customers and to the luxury fashion industry as a whole.

“Farfetch’s Conscious Luxury Trends Report 2020 showed that more than half of our customers have bought or sold pre-owned in the last year and industry estimates suggest the pre-owned category is growing three times faster than the primary market.”

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