By Emma Lee
Upon the official release of its new website, Hong Kong-based luxury marketplace Luxify announced that it has raised US$$800,000 of seed funding from unnamed investors in Asia and Europe. With the new financing, the company is looking to hire more talent and enhance its platform in Hong Kong, London and Singapore.
Luxify is a premier online marketplace for customers to buy and sell new, vintage, and pre-owned luxury items by connecting buyers to dealers, collectors, and sellers in local markets. Luxify offers features according to the needs of both buyers and sellers, which include both professional and private.
Luxify’s new website added a new functions like “Make an Offer” which allows buyers and sellers of luxury goods to directly negotiate with each other in the marketplace. They’ve also added more streamlined communication tools to connect the two parties, social media integration, and a geolocation interface that identifies the location of each store. At the moment, the service takes no commission from customers.
Professional retailers as well as private clients use Luxify to transact successful sales of a wide selection of luxury goods. Luxify offers goods in a range of pre-selected categories, including properties, jewelry, motor, art, fashion, red wine, travel destinations, jets & helicopters, and luxury children’s wear, and more. The company claimed to have over US$350 million worth of luxury products listed on the platform.
Product authenticity is of course the key concern of customers when purchasing luxury products. To better service, Luxify has also upgraded their complimentary concierge service to include authentication. Luxify’s concierge service also offers professional photography & retouching services (use of drones and helicopters to take aerial shots), and tailored marketing campaigns.
“The luxury market is extremely fragmented and there is no transparency for buyers to know the true value of their pre-owned luxury goods. Currently, the limited distribution channels for both sellers and buyers are dominated by offline formats such as pawn shops, traditional auction houses, and specialized second hand boutiques,” says Alexis Zirah, co-founder of Luxify. “Our new website not only addresses these issues but greatly simplifies the buying and selling process.”
Luxify was founded by Florian Martigny, Alexis Zirah and David Leung, three Hong Kong residents and businessmen, who were looking to create an online platform for the second-hand luxury market.
image credit: Luxify
Source:: Hong Kong Luxury Marketplace Luxify Scoops Angel Investment to Boost Global Expansion