Farfetch Limited, the global platform for the luxury fashion industry founded in 2007 by José Manuel Ferreira Neves, chairman and CEO, has acquired the resale platform Luxclusif.
The acquisition includes Luxclusif’s technology platform, and the Luxclusif team will join Farfetch group. This new step will allow Farfetch to accelerate its resale capabilities through the development of key technology and service features such as automated pricing, and faster geographic and category expansion of its resale service, Farfetch Second Life.
Together, Farfetch and Luxclusif aim to become the global platform for pre-owned luxury for both customers and industry partners.
Farfetch has worked closely with Luxclusif for a number of years, first through its start-up accelerator program and most recently through Farfetch’s resale service, Farfetch Second Life.
Following completion of the transaction, the Luxclusif team will operate Farfetch’s Second Life platform service, integrating both existing and new partners into the program. Luxclusif will also continue to sell pre-owned product it acquires from specialist suppliers and luxury consumers through Second Life or similar programs it operates for other luxury industry partners.