Several major players in the luxury space use the company’s solution, including Balenciaga, Harvey Nichols, and Net-A-Porter. It offers access to branded marketplace solutions, its global network of 30 resale marketplace partners, as well a customer base of more than 100 million shoppers.
The investment round was led by Shanghai-based venture capital firm Ventech China, Global Blue, and Bombyx Growth Fund. The investment round also saw participation from its early investors, including Swarovski’s creative director Giovanna Battaglia, Madaluxe Group, Italian luggage brand Piquadro, and TLF Ventures.
“The resale market is one of the fastest growing sectors in luxury, and customer demand for circular fashion is strong,” said Tomas Mostany, senior vice president of strategy and chief product officer at Global Blue, a provider of omnichannel technology and tax-free shopping solutions.
“Our partnership with Reflaunt continues to place us at the forefront of innovation for retail growth areas, enabling us to constantly offer new solutions that empower our merchants to capture the opportunities these fast-growing new sectors represent.”
Reflaunt is also partnering with Global Blue to tap into the company’s network of hundreds of luxury brands.
“We have integrated the resale experience in the brand’s ecosystem, which allows us to record the product’s digital ID at the moment of check-out and foster a seamless resell-in-a-click experience when the customer is ready to give the product a second life,” said Stephanie Crespin, co-founder and CEO of Reflaunt.
“We are excited to work with Global Blue and their portfolio of clients on physical retail executions, making Reflaunt a gateway to endless after-use destinations for each product in the market, be it resale, repair, recycling, and more.”
