In a game-changing move, Fashionphile, the leading luxury accessories resale platform, has acquired LXR Luxury Products International, Groupe Global LXR, and LXR Canada — the operational pillars of LXRandCo. This acquisition includes a wealth of assets, from inventory to intellectual property, marking a significant expansion for Fashionphile into B2B wholesale and new omnichannel operations.
The strategic acquisition enhances Fashionphile’s selling channels, going beyond the current direct-to-consumer and circular retail experiences. This move aligns with the platform’s commitment to adapt to the evolving retail landscape, making inroads into diverse market segments.
Ben Hemminger, Fashionphile’s Co-founder and CEO, expressed excitement about the venture, stating, «With this acquisition, we are excited to forge a new path in wholesale and provide trusted, authenticated, branded accessories to even more sectors of the growing second-hand market.»
LXRandCo, a pioneer in B2B wholesale within the pre-owned luxury space, brings a wealth of experience and a rich portfolio of luxury brands, including Hermès, Louis Vuitton, Gucci, Prada, and Chanel. This move strategically positions Fashionphile to cater to a broader audience in the flourishing second-hand market.
Founded in 1999, Fashionphile stands as the first ultra-luxury re-commerce business of its kind. This acquisition follows its exclusive recommerce partnership with the Neiman Marcus Group in 2019, further solidifying its presence in luxury specialty retail.
As Fashionphile expands its footprint through this acquisition, it emerges as a powerhouse in the ultra-luxury re-commerce sector, offering a diverse array of channels to meet the demands of the modern retail landscape. Stay tuned for the exciting developments reshaping the dynamics of the luxury resale market.
