The Reebonz E-commerce Hub has officially opened in Singapore.
So new that roads are still being formed around it, the 200,000 sqft (18,580.6 sqm) building will house the luxury fashion e-commerce company’s management as well as its warehousing and distribution services.
Since raising US$40 million in a series-C round from such investors as Singapore’s Mediacorp and Vertex Ventures in 2013, the company has taken a multi-layer approach for its business-to-consumer offering. As well as pop-up stores, it has its Closets app for users to sell items, White Glove, where used designer items are authenticated before sale, and Boutiques, where fashion merchants can move inventory online.
“The marketplaces allow us to get that long tail of products we might otherwise not buy in stock,” says co-founder Daniel Lim.
Pre-owned items from its peer-to-peer marketplaces now account for 45 per cent of Reebonz’s gross merchandise volume.
Features of the US$29 million hub include a robotic closet that securely stores items such as watches, jewellery and branded bags), and an exhibition space for boutique items from independent luxury designers.
It is also where items are authenticated and graded. When products have been through the process, they are marked invisibly so should they come back in for sale they do not need re-authenticating.
Reebonz has 300 employees and has expanded in Asia-Pacific with offices in Australia, Hong Kong, Malaysia, South Korea, Taiwan and Thailand. Its products are shipped worldwide.
