LePrix secondhand specialist announces Europe expansion
LePrix, a B2B marketplace for pre-owned luxury goods, is expanding from its US base with a new Paris HQ, a move that will “enable retailers throughout Europe to begin sourcing authentic secondhand goods at wholesale from the platform”.
The American company’s Europe arm is being led by Camille de Vregille, who previously held senior positions with Louis Vuitton in South America.
LePrix Europe will give retailers throughout the region “a frictionless way to source pre-owned inventory and expand their resale efforts,” the company said. “Leveraging the marketplace’s e-commerce interface, businesses can secure authentic products at scale and avoid the need to procure items piecemeal from individual suppliers. Additionally, LePrix’s infrastructure services will significantly reduce burdens associated with logistics, customs, authentication, payments and more”.
De Vregille added: “The demand for pre-owned luxury goods in Europe, home to most of the world’s top fashion houses, is surging. For brands and retailers, it’s clear that the circular economy is a huge business opportunity and sustainability is a necessary initiative. It’s the path to entering the market that, until now, has been obscured by too many barriers. With this launch, we are helping clear the way.”
The business was originally launched by sisters Elise Whang and Emily Erkel as a marketplace platform enabling designer consignment and vintage stores to quickly launch e-commerce channels. They moved into wholesale in 2019.
“There’s unlimited opportunity in the $36 billion resale ecosystem. The business challenge has been getting access to amazing supply at volume and online. That’s the problem that LePrix is solving,” said Whang. “By uniting the entire value chain in a single, secure platform, we’re providing a scalable means to source authentic, pre-owned inventory to propel the virtuous cycle forward.”
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