Farfetch completed acquisition of LUXCLUSIF.

Farfetch, a platform for the luxury fashion industry, completed acquisition of LUXCLUSIF, an online resale platform. Financial terms were not disclosed. “LUXCLUSIF joining the FARFETCH group allows us to expand the company’s pre-owned offer for our customers, for brand and retail partners and for other suppliers of pre-owned products. We aim to become the leading global platform for pre-owned luxury. The pre-owned market is growing extremely fast and is increasingly important to both luxury customers and to the luxury fashion industry as a whole. FARFETCH’s Conscious Luxury Trends Report 2020 showed that more than half of our customers have bought or sold pre-owned in the last year and industry estimates suggest the pre-owned category is growing three times faster than the primary market," Giorgio Belloli, Farfetch Chief Commercial and Sustainability Officer.