- Luxify secures US$800,000 from unnamed investors in Asia and Europe
- The firm allows buyers and sellers of luxury new, pre-owned, and vintage goods to directly negotiate with each other in the marketplace
- Company will use the capital to hire talent and enhance its platform
Luxify , an online marketplace in Hong Kong that connects buyers and sellers of luxury products, has received US$800,000 in seed funding from a group of unnamed investors in Asia and Europe.
The company will use the capital to hire talent and enhance its platform.
Luxify was founded by Florian Martigny and Alexis Zirah, and has offices in Hong Kong, London and Singapore. Luxify allows buyers and sellers of luxury new, pre-owned, and vintage goods to directly negotiate with each other in the marketplace. Luxify offers features according to the needs of both buyers and sellers, which include both professional and private.
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At the moment, Luxify does not charge any membership fees, listing fees, or take commission from any of the transactions. Sellers have full discretion of their products’ listing price and listing duration when selling their luxury items on Luxify.
After partnering with more than 50 professional dealers, Luxify has also added categories such as properties, travel destinations, jets and helicopters, and luxury children’s wear.
“The luxury market is 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 specialised second hand boutiques,” said Zirah.
“Our new website not only addresses these issues but greatly simplifies the buying and selling process,” added Zirah.