Fashionphile Acquires Luxe Collective to Enter UK Market
US-based luxury resale platform Fashionphile has acquired the intellectual property, customer database, and social media channels of Luxe Collective, a British pre-loved marketplace.
The acquisition follows Luxe Collective's shutdown earlier this year due to a warehouse break-in, resulting in the theft of over £500,000 in stock.
“This acquisition allows us to combine Luxe Collective’s cultural relevance and strong community with Fashionphile’s scale, technology, and authentication expertise.” - Ben Hemminger, co-founder and chief executive of Fashionphile
The deal expands Fashionphile's presence into the European luxury resale market, aligning with its strategy to become the “world’s most sought-after brand for buying and selling ultra-luxury accessories”.
- Acquisition includes Luxe Collective's IP, customer database, and social media channels
- Expands Fashionphile's presence into the European luxury resale market
- Aligns with Fashionphile's strategy to become a leading global luxury resale brand
Author's summary: Fashionphile enters UK market with Luxe Collective acquisition.