Reebonz set to grow as the demand for luxury grows

  Four years after its inception, the online luxury shopping destination Reebonz has seen a dramatic growth

in the Asia-Pacific region, the wave of demand for high-end products of expanding and increasingly wealthy

class in the region.

Four years after its inception, the online luxury shopping destination Reebonz has seen a dramatic growth in

the Asia-Pacific region, the wave of demand for high-end products of expanding and increasingly wealthy

class in the region.

The Singapore-based company has bought from a flash sale site for a full market where products sold and

serviced developed.

"Over the past four years, our sales have increased from a few million dollars to more than S $ 100 million

per year. This year we want to cross to S $ 150 million, while aiming to double our turnover every year in

the future, "said CEO Samuel Lim, adding that Reebonz managed at least 15,000 transactions each month from

its two million members.

As a pioneer in the luxury e-commerce, Reebonz benefited from the growth in online shopping in Asia-Pacific.

Demand is also driven by the middle class in the region, the size and purchasing power.

In addition to the flagship site, he has a few other channels, including Reebonz Vintage, an online

marketplace for buying and selling pre-owned luxury goods and Kwerkee a market for unique and unusual

products.

"We want to operate a complete ecosystem in which you buy or sell, and service your products if you are a

client only build Reebonz. Ecosystem This full service is the key differentiator that allows us to stay

ahead in the competition to be" said Mr. Lim

These plans should go smoothly with the support of an S € - 20 million investment in MediaCorp multimedia

group, the main investor in the latest round of fundraiser that another S $ 30 million from existing

shareholders to include Reebonz.

"In addition to funding, the partnership between Reebonz and MediaCorp will be a strategic fit," said Mr Lim
"The details are still under discussion, but I am looking forward to the use of its strengths and media

artists in our marketing network to develop and, more importantly, to develop Reebonz brand."