Daily Markup #963: Carousell acquires LuxLexicon to give luxury shoppers a wider selection of authenticated premium resale bags and peace of mind

Photo credit: Carousell

Tried and trusted

  • Luxury shoppers have more reasons to buy on 500-backed recommerce platform Carousell. The company just acquired LuxLexicon, a leading reseller of luxury bags, to offer a wider selection of authenticated premium luxury resale products to give peace of mind to customers.
  • This move comes as the company sees a surge in high-end bag listings, with an increase of 71% per month over the last two years. This enhanced focus may help take Carousell closer to their goal of growing their users by 10x.
  • Carousell launched 2 initiatives in 2023 to meet this appetite for luxury goods: the Carousell Certified Luxury program, which verifies the authenticity of high-end bags; and the Sell to Carousell Luxury service, which allows users to sell or consign their bags to Carousell.
  • “Our ambition is to create the largest managed marketplace for authenticated second-hand luxury bags where users can buy and sell with trust and convenience,” Co-founder Marcus Tan shared.
  • He revealed that they will continue to seek suitable acquisition opportunities with the right partners that can help Carousell make buying and selling secondhand items more trusted and convenient in recommerce.
  • Read the full story on The Straits Times.


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