In 2018, LePrix launched LePrix Wholesale, describing themselves as the only marketplace in the US unlocking access to pre-owned, pre-authenticated luxury from the world’s most trusted suppliers at deeply discounted prices. Now, they are to launch in Europe.
There is huge demand for luxury goods, but sourcing them in sufficient quantities is often what prevents businesses growing as fast as they might otherwise. The European launch aims to open up new supply chains connecting businesses with stock to retailers wanting to sell to consumers.
With a name like LePrix (‘The Price’ in French) one might have thought they had French origins, and appropriately their European HQ will be based in Paris. They will offer retailer a channel to source more top-selling products like Louis Vuitton, Chanel, and Gucci from other trusted resale businesses.
There are two ways to shop – LePrix Wholesale Auction, where you can bid by placing your best offer; and LePrix Wholesale Stock, where you can shop at “buy now” prices.
The demand for pre-owned luxury goods in Europe, home to most of the world’s top fashion houses, is surging. 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.
Camille de Vregille, President, LePrix Europe
LePrix will also roll out a beta enabling multichannel selling across multiple channels for products source on their platform.
This will be an interesting development for pre-owned, pre-authenticated luxury retailing. We know there are multiple problems facing sellers of this type of product and reselling on other marketplaces bring up authenticity challenges which not only verify the product is genuine but also look at subjective content including descriptions and item conditions.
