The reseller will utilize $25 million in Series-C funding to invest in its brick-and-mortar strategy, also integrating new technology and talent acquisition in a booming resale space

As consumers become more interested in sustainability and circular fashion, they are demonstrating a willingness to pay top dollar for second-hand items, especially when it comes to luxury handbags. Resale company Rebag has capitalized on this market, recently receiving $25 million in Series-C funding, which the company will be using to open 25 new locations.

In addition to opening physical stores, Rebag will also be investing in technology, helping solidify its stance as a major player in the resale space. CEO, Charles Gorra, explains, “Our goal is to become the standard for the luxury resale industry, just like Kelley Blue Book is the main resource for the auto industry. We will make very ambitious releases shortly to provide tools that simplify and standardize the resale process.”

Studies have shown that consumers, regardless of income level, are interested in a secondary luxury market. Accordingly, Rebag will be continuing its expansion plan over the course of 2019.

Rebag


Lead image: Rebag via Instagram

As consumers become more interested in sustainability and circular fashion, they are demonstrating a willingness to pay top dollar for second-hand items, especially when it comes to luxury handbags. Resale company Rebag has capitalized on this market, recently receiving $25 million in Series-C funding, which the company will be using to open 25 new locations.

In addition to opening physical stores, Rebag will also be investing in technology, helping solidify its stance as a major player in the resale space. CEO, Charles Gorra, explains, “Our goal is to become the standard for the luxury resale industry, just like Kelley Blue Book is the main resource for the auto industry. We will make very ambitious releases shortly to provide tools that simplify and standardize the resale process.”