Reebonz Announces Launch of “Sell Back Guarantee” in Thailand and Expands Service to Jewelry Category
May 30 2019 - 9:18AM
Reebonz Holding Limited (the “Company” or “Reebonz”; Nasdaq: RBZ),
a leading online luxury marketplace and platform in Southeast Asia,
announced today that it has launched its “Sell Back Guarantee”
service in Thailand. With this addition, Reebonz aims to deepen its
relationship with customers in Thailand.
Reebonz was the first e-commerce company to
introduce this innovative service, which was born out of a deep
understanding of and desire to meet the unfulfilled needs of
customers. The Sell Back Guarantee service leverages the popular
“trade-in” concept and gives customers a guaranteed price that the
Company will pay to buy back products that were initially sold on
its platform. Customers will be offered currency, called Reebonz
Credits, that can be used for future purchases on the platform.
Reebonz has expanded the categories for which
the Sell Back Guarantee applies from leather goods to jewelry.
Pre-owned jewelry from selected brands such as Chanel, Harry
Winston, Hermès, and Christian Dior, among others, will be
eligible. The Sell Back Guarantee is now available in Singapore,
Hong Kong, Taiwan, Malaysia, Australia, Indonesia, and the United
States.
Fueling the pre-owned trend, individuals can not
only buy trusted, authentic products from Reebonz, but also sell to
Reebonz, overcoming some of the barriers that traditional
marketplaces create. As a customer-centric company, Reebonz aims to
deliver seamless buying and selling services to increase the
lifetime value of each customer.
Daniel Lim, Co-founder and Chief Product Officer
of Reebonz, commented, “We are extremely excited to launch our Sell
Back Guarantee in Thailand and expand into the jewelry category. We
hope to further expand our services across geographies and
categories, giving our customers even more ways to engage with us.
We truly believe we can be a one-stop ecosystem for everyone’s
luxury needs.”
Forward-Looking and Cautionary
StatementsCertain 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 maintain NASDAQ’s continued 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 Reebonz’s most recently filed prospectus,
filed with the SEC on April 17, 2019 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.
About Reebonz:
Headquartered in Singapore, Reebonz is the
trusted online platform for buying and selling a wide range of
luxury products. Reebonz makes luxury accessible by giving our
members more from the world of luxury through Reebonz.com and
Reebonz Closets app—a standalone C2C platform that allows customers
to buy and sell their pre-owned items to a community of over 5.5
million members. With an easy shopping experience, members can
enjoy convenient access to new and pre-owned luxuries curated from
all around the world. Reebonz has offices located in Australia,
Hong Kong, Indonesia, Malaysia, South Korea, Thailand, and
Taiwan.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
Stay connected with us
at:Facebook: @ReebonzSG |
Instagram: @ReebonzOfficial
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