The Russian clothing and footwear reselling marketplace LUXXY has acquired an online site for the resale of themarket, as well as the WantHerDress consignment store with wardrobes of stars and celebrities.
The segment of online stores for the resale of things continues to develop in Russia, and the first merger of online reseller sites has already been recorded.
As a result of the deal, the themarket online reseller will continue to operate as a standalone marketplace, with all WantHerDress items available for purchase on the LUXXY website. One of the co-founders of themarket, Mikhail Postnikov, will remain in the project and head themarket as part of LUXXY, joining the board of directors. The rest of the co-owners - Timur Kalandarov, Alexander Fedotov, Nikolai Novikov - went out of business. The founder of WantHerDress Ekaterina Bushueva joined the LUXXY team as a managing partner, she will be responsible for the company's external communications.
The amount of the deal was not disclosed. It is known that earlier LUXXY received an investment of 15 million rubles from the TealTech Capital fund in exchange for a 12,5% stake in the business.
“Thanks to the integration of themarket and WantHerDress into the LUXXY business, we will be able to offer the best conditions for sellers and buyers, as well as the widest range of goods for different audiences,” says Vladimir Yevladov, CEO and co-founder of LUXXY.
Mikhail Postnikov expects that the partnership between themarket and LUXXY will provide new opportunities for the development of the themarket platform, which remains a separate independent project.
As we wrote earlier, the used goods market is currently experiencing a boom all over the world. According to Vestiaire Collective, a major American online reseller, the global used goods market today is about $ 30-40 billion, and its growth rate over the next five years could range from 15 to 20%.