Farfetch enhance resale position with Luxclusif

The luxury fashion mega brand Farfetch have announced their acquisition of resale site Luxclusif, giving the multi-branded site a bigger resale reach. The deal itself has not been disclosed, but entails the Luxclusif platform and team to be teaming up with Farfetch.

Luxclusif offers an authentication service, and the sale of second hand luxury goods from auctions, retailers, stores and e-commerce platforms. They have worked with Farfetch a few times, and even helped them to launch their own resale service, Farfetch Second Life.

The acquisition will mean that Farfetch can expand its resale footprint, allowing them to accelerate development with key technology and services which will allow automated pricing and a larger and faster geographic expansion of its own resale section.

The two companies combining allows them to leverage both their positioning in the market and join their capabilities to ‘become the global platform former-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,” commented Giorgio Belloli, chief commercial and sustainability officer at Farfetch, in a release. “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 preowned category is growing three times faster than the primary market.”