FASHIONPHILE, the pre-eminent resale e-commerce platform for ultra-luxury accessories, has made a strategic move by acquiring the inventory, intellectual property assets, including domains, and other intangible assets of LXR Luxury Products International Inc., Groupe Global LXR Inc., and LXR Canada Inc. This acquisition encompasses the operating subsidiaries of LXRandCO, Inc., the Montreal-based omnichannel retailer specializing in authenticated, pre-owned luxury accessories. The Subject Companies had recently filed for a notice of intention to make a proposal under the Bankruptcy and Insolvency Act (Canada).
Founded in 2010, LXR gained prominence for curating, sourcing, and authenticating high-quality pre-owned products from renowned brands such as Hermès, Louis Vuitton, Gucci, Prada, and Chanel. Their distribution channels include direct-to-customer sales through their website and indirect sales by powering e-commerce platforms for key channel partners, engaging in wholesale activities with select retail partners across North America.
The acquisition positions FASHIONPHILE to broaden its selling channels, moving beyond direct-to-consumer models. The incorporation of LXR’s assets will enable FASHIONPHILE to venture into B2B wholesale operations and explore new facets of omnichannel retail. Ben Hemminger, co-founder and CEO of FASHIONPHILE, expressed enthusiasm about entering the wholesale space, emphasizing the importance of reaching diverse sectors within the growing second-hand market.
The move follows FASHIONPHILE’s strategic partnership with the Neiman Marcus Group in 2019, where it became the exclusive recommerce partner for the luxury specialty retailer. FASHIONPHILE has since established 10 Selling Studio locations within Neiman Marcus stores across the United States, introducing a distinctive circular service and enhancing the luxury resale-retail experience.
Founded in 1999, FASHIONPHILE has evolved into the largest resale platform in the United States for buying and selling ultra-luxury, pre-owned accessories, including iconic brands like Chanel, Hermès, Gucci, and Louis Vuitton. Recognized for its digital and omnichannel expertise, as well as luxury in-person services, FASHIONPHILE operates on a direct buyout model and is acclaimed for best-in-class authentication.
With this recent acquisition, FASHIONPHILE not only reinforces its position as a sought-after brand in the pre-owned luxury market but also strategically positions itself to capitalize on the evolving landscape of re-commerce, embracing new avenues for growth and market expansion.
