Pre-owned luxury marketplace LePrix sets sights on European expansion
LePrix, a wholesale marketplace for retailers to source pre-owned luxury, has announced its expansion into Europe.
The venture is based in Paris and led by President Camille de Vregille, who previously held senior positions with Louis Vuitton in South America.
To date, however, it's been US-based businesses that have had access, because part of LePrix's offering is taking care of the PITA stuff like customs and payments.
With the opening of an office in Paris, the marketplace can now offer access to European retailers.
“The demand for pre-owned luxury goods in Europe, home to most of the world’s top fashion houses, is surging,” says de Vregille
“For brands and retailers, it’s clear that the circular economy is a huge business opportunity and sustainability is a necessary initiative.”
“It’s the path to entering the market that, until now, has been obscured by too many barriers. With this launch, we are helping clear the way. We look forward to offering European retailers access to the world’s supply chain for pre-owned.”
Founded by sisters Elise Whang and Emily Erkel, LePrix began as a platform enabling designer consignment and vintage stores to quickly launch e-commerce channels.
With the launch of LePrix Wholesale In 2019, they brought to life an offering through which retailers could procure authentic inventory from top B2B suppliers globally.
The company is now planning to roll-out a beta version of a e-commerce multi-channel (EMC) service.
This will give retailers sourcing from LePrix a turnkey solution for selling across multiple consumer facing channels around the world. As part of the transition, the company’s primary url, www.leprix.com, will now direct visitors to the wholesale platform.
“There’s unlimited opportunity in the $36 billion resale ecosystem. The business challenge has been getting access to amazing supply at volume and online. That’s the problem that LePrix is solving,” says Elise Whang, CEO.
“By uniting the entire value chain in a single, secure platform, we’re providing a scalable means to source authentic, pre-owned inventory to propel the virtuous cycle forward.”
"Online resale is one of the fastest growing sectors in retail. So when Elise and Emily reached out to me with their vision of ‘great fashion meets user-friendly sustainability and savvy, stylish connoisseurship,’ I was very impressed and delighted to help and support them,” comments William Norwich, advisor to LePrix.
“Over a relatively short period of time, they have built an enthusiastic and robust community of retailers and suppliers, and the growth trajectory of their business is phenomenal - a winning, ongoing story of retail solutions and opportunities for both sellers and buyers."
