Reebonz Celebrates Ten Years of Making Luxury Accessible in Asia Pacific
March 21 2019 - 8:30AM
Reebonz Holding Limited (the “Company” or “Reebonz”) (Nasdaq: RBZ),
a leading online luxury marketplace and platform in Southeast Asia,
is celebrating its first 10 years in business as a provider of
online luxury fashion to customers in the Asia Pacific region and
beyond.
Today, Reebonz believes it’s a leader in the
emerging retail space of fashion as a “sharing” ecosystem. It
provides a platform not only linking buyers to the best new
designer products, but also tools to curate and price items for
individual sellers to sell their pre-owned and vintage luxury
fashion. It provides the back end for authentication, payments and
logistics, while making the front end seamless for finding new
products at competitive prices and high-demand vintage items.
Unlike traditional retail, Reebonz develops customer loyalty by
engaging its users in a virtuous cycle of shopping for fashion and
recycling it.
It all began in Florence, when CEO and
co-founder Samuel Lim, watched the crowds of tourists waiting to
buy high-end designer bags at the Gucci outlet at the Mall Firenze.
The sight prompted Lim to build the first version of the Reebonz
website as a means of bringing time-limited, online luxury shopping
to Asia. Since the first iteration in 2009, Reebonz has evolved
into a luxury ecosystem with a curated platform for new, pre-owned,
and vintage products, from top luxury brands, individuals and
boutiques from around the world. Through this strategy, it has
perpetuated its vision of “making luxury accessible”.
Why Reebonz has succeeded is a story of unmet
demand. Asia’s fashion-conscious millions are eager consumers of
luxury bags, small leather goods, watches, shoes, and accessories.
Trends evolve and fashion-forward consumers are eager not only to
buy the latest fashion but also sell their unused goods, and
Reebonz provides an outlet for both passions. Members of Reebonz
can be both buyers and sellers, which typically extends a
customer’s lifetime value. Since 2018, Reboonz has added a
“Sell Back Guarantee” feature that allows members
to sell their Reebonz purchases back to the Company for Reebonz
Credits, which can be off-set for future purchases. This feature
has allowed for more engagement with its members.
While the company was founded in Singapore, the
vision was to expand across the Asia Pacific region. Reebonz
quickly established teams in Indonesia, Malaysia, Thailand, Korea,
Hong Kong, Taiwan, China and Australia. Outside Asia Pacific,
Reebonz has a team in United States as well. Geographic expansion
gave Reebonz the ability to diversify both its user base and
sources of pre-owned supply.
On this milestone, Reebonz CEO Samuel Lim said,
“At Reebonz, we create real solutions to solve problems. Changing
the way people in Asia Pacific shop has been nothing short of a
dream come true. We believe we are innovative in the use of data
and technology, and have come up a unique strategy that keeps
customers coming back for more. There is a lot more to be done, and
you can count on it that we will be bringing our customers even
more choices and options.” He further added, “We’d like to thank
our investors such as Intel Capital, Vertex Ventures, GGV Capital,
Matrix Partners, Mediacorp, and many more in continuing to support
us in our
journey.” ______________________________________________________________________
About ReebonzHeadquartered 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
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 regain compliance with and continue 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
Stay connected with us:
Facebook: @Reebonz | Instagram:
@ReebonzOfficial
Reebonz (NASDAQ:RBZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Reebonz (NASDAQ:RBZ)
Historical Stock Chart
From Apr 2023 to Apr 2024