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Singapore start-up Reebonz betting on more luxury consumption

The global economic chill may have helped cool the runaway growth in luxury brands as consumers start to think twice before splurging. One e-commerce player, however, is hoping for an Indian summer.

Daniel Lim, one of the co-founders of Reebonz, said the “aspirational middle class” – particularly in Asia – will underpin demand for personal luxury products.

Reebonz sells new and pre-owned designer bags, shoes and other personal luxury items on its website and mobile app. It has a service, Reebonz Closet, available in selected markets, that lets users buy and sell directly to one another.

Merchants from around the world are also able to list their items on Reebonz Marketplace, creating variety in selection. The company also has in-store presence in Australia and pop-up stores in Singapore.

(Source: CNBC)

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