Taiwan’s second-hand luxury platform PopChill has made its Hong Kong debut after securing a US$1.9 million investment to expand into the market.
The investors in this round include ITIC, AVA Angels Fund, 500 Global, Acorn Pacific Ventures, and Darwin Venture.
PopChill specialises in luxury brands and sells more than 100,000 second-hand items, cooperating with the top three second-hand luxury retailers in Japan, as well as suppliers in Taiwan, Italy, and the UK.
Customers can access a large range of high-quality luxury items through the PopChill platform, which includes labels such as Chanel, Hermes, LV, and Gucci.
The “Secure Purchase” procedure at PopChill begins with the confirmation of product listings to ensure they match the uploaded photographs and descriptions of merchants. The second phase is aided by a third-party American AI technology that verifies the item’s authenticity against the brand’s craftsmanship and attributes.
PopChill is widely appreciated in Taiwan by local celebrities and influencers, including aspiring influencer Xiao Wu.
“Our goal for the Hong Kong branch is to replicate the growth trajectory experienced in Taiwan over the past few months, rapidly establishing supply and demand locally,” said PopChill’s co-founder, Andy Kuo.
Including the funds previously raised, the team has garnered a total of US$5.2 million, which will allow it to expand internationally for the next one and a half years. The company intends to reach the Singaporean and Malaysian markets by next year.
