Carousell Acquires LuxLexicon
This effort intends to strengthen the group's luxury category by pursuing an omnichannel approach and expanding its premium luxury goods.
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The Carousell Group, a multi-category secondhand goods marketplace in Greater Southeast Asia, has completed the acquisition of LuxLexicon, a Singapore-based luxury bag reseller and accredited luxury consignment platform.
Marcus Tan, co-founder of Carousell Group, said, “We are excited to partner with Florence and the LuxLexicon team to accelerate our ambition of creating the largest managed marketplace for authenticated second hand luxury bags where users can buy and sell with trust and convenience. We originally met Florence to partner with LuxLexicon for our Carousell Certified Luxury programme. After conversations, we realised that we had a similar vision, and by joining forces with LuxLexicon’s expertise, we could help each other supercharge our luxury bag business in Southeast Asia, Hong Kong and Taiwan over the next few years.”
Florence Low, Founder of LuxLexicon, said, “LuxLexicon and Carousell Group share a common goal of providing a trusted and accessible platform for buying and selling authenticated luxury bags. Additionally, we both see similar strong consumer demand for popular brands such as Hermès, CHANEL and Louis Vuitton. This acquisition allows us to offer more variety of bags and recommend interested consumers to each other. I am excited to further grow the brand with Carousell Group’s scale, investment and regional expertise in the coming years and beyond.”
This effort intends to strengthen the group’s luxury category by pursuing an omnichannel approach and expanding its premium luxury goods.
