B2B resale marketplace LePrix expands to Europe

LePrix, the largest wholesale marketplace for retailers to source authentic, pre-owned luxury, announced their expansion into Europe. This move will allow more companies to take advantage of opportunities in the rapidly expanding circular economy.

LePrix Europe, which has its headquarters in Paris and is run by President Camille de Vregille, a former top Louis Vuitton executive in South America, will make it easy for merchants around the continent to obtain used inventory and increase their resale operations. Businesses don’t have to buy things piecemeal from different vendors since they may get legitimate products at scale by utilizing the marketplace’s ecommerce interface. LePrix’s infrastructure services will also greatly lessen the constraints related to payments, customs, identification, and other areas like logistics.

de Vregille., said that in Europe, which is home to the majority of the best fashion businesses in the world, demand for pre-owned luxury items is rising. The circular economy has enormous revenue opportunities for companies and retailers, and sustainability is a critical endeavor. It’s the route into the market that’s been blocked off by too many obstacles up until now. They are paving the road with this launch. They are eager to give European shops access to the global supply chain for previously owned goods.

Elise Whang and Emily Erkel, sisters, founded LePrix as a marketplace platform to help vintage and resale shops quickly launch ecommerce channels. After adding hundreds more merchants to the site, the co-founders turned their attention to solving the sourcing problems that had proven to be a more significant roadblock to expansion. With the introduction of LePrix Wholesale in 2019, they created the first platform in the world where merchants could financially and safely buy real goods from leading B2B suppliers across the world.

LePrix will launch a beta version of its ecommerce multi-channel (EMC) solution as a way to demonstrate its dedication to its B2B offering. This service will provide global merchants that source from LePrix with a turnkey solution for selling through various consumer-facing channels. The company’s main website, http://www.leprix.com, will now link users to the wholesale platform as part of the shift.

Elise Whang, CEO and Co-Founder, said that the $36 billion secondary market offers limitless opportunities. Getting online and in large quantities access to fantastic supplies has been a commercial problem. LePrix is addressing that issue. They’re offering a scalable way to find genuine, pre-owned inventory to accelerate the virtuous cycle ahead by combining the whole value chain in a single, secure platform.

William Norwich, advisor to LePrix, said that one of the retail industries’ fastest expanding segments is online reselling. Therefore, he was really pleased and happy to help and support Elise and Emily when they contacted him with their idea of “excellent fashion meets user-friendly sustainability and clever, elegant connoisseurship. The development trajectory of their business is fantastic; it is a winning, ongoing tale of retail solutions and possibilities for both sellers and buyers. In a relatively short amount of time, they have established a passionate and strong community of merchants and suppliers.