SINGAPORE, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Reebonz Holding Limited (Nasdaq: RBZ), a leading online luxury marketplace and platform in Southeast Asia, today announced that following a decade long presence in Southeast Asia, it is launching across 15 countries in Europe, including Austria, Belgium, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, Netherlands, Spain, Sweden, Switzerland and United Kingdom.
After a successful launch and warm reception among customers in the United Kingdom, Reebonz decided to expand its presence across other major European countries. Reebonz offers a curated online luxury shopping experience, with a differentiated point of view. Its collection of new and pre-owned luxury fashion complemented by a unique collection of products from over 50 Asian designers and other independent brands has been well received worldwide. With competitive pricing combined with free returns and shipping, Reebonz believes it can offer a unique value proposition, particularly with its focus on pre-owned luxury.
In recent years, the luxury market has seen clear growth in the demand for pre-owned products, influenced by a new breed of shoppers — Millennials. This state of resale has allowed customers access to powerhouse brands such as Chanel, Hermès and Louis Vuitton.
Considering that discerning European customers are no stranger to vintage and pre-owned luxury fashion, Reebonz aims to leverage its business intelligence tools and data to provide a compelling offering of pre-owned luxury. The Company identified this unmet need early and invested in scaling its authentication capabilities. It now houses a wide range of authentic pre-owned designer handbags, accessories, timepieces, shoes and apparel and helps to find a new home for such coveted pieces.
“We are extremely excited to be launching in Europe, the mecca of fashion,” commented Lynn Ng, Head of Operations. With over 550 brands and over 170 luxury boutiques on board, this launch strengthens our vision of expanding our brand globally, and making luxury accessible to everyone. Europe is one of the largest and most dynamic e-commerce markets in the world and we hope to successfully build our reputation there.”
About Reebonz
Headquartered in Singapore and founded in 2009, Reebonz (pronounced “ribbons”) is the trusted online marketplace and platform for buying and selling new and pre-owned luxury products in the Asia Pacific region. Leveraging data and technology, Reebonz makes luxury accessible by operating as an eco-system of B2C e-tail and B2C marketplace for over 1,000 brands and 172 boutiques, supported by C2C marketplaces that enable individuals to sell through its platform. With an easy shopping experience, members can enjoy convenient access to the selection of products that Reebonz sources as well as from a curated collection of multi-brand luxury boutiques from all around the world.
Forward-Looking and Cautionary Statements
Certain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Reebonz’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the ability to meet NASDAQ’s listing standards; Reebonz’s ability to manage growth; the reaction of Reebonz customers and suppliers to its business combination; rising costs adversely affecting Reebonz’s profitability; potential litigation involving Reebonz’s intellectual property; and general economic and market conditions impacting demand for Reebonz’s products. See the risk factors disclosed in the definitive proxy statement for Reebonz’ business combination for additional risks. Reebonz does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For investor and media inquiries, please contact:
Reebonz Holding Limited | ir@reebonz.com
Christensen | Tip Fleming | tfleming@ChristensenIR.com | Contact: +1 917 412 3333
For more information on Reebonz, please visit www.reebonz.com
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