DMT Beauty Transformation: EBay Invests in Luxury Resale Platform Cudoni
Daniel-Yaw Miller DMTBeautySpot

EBay Invests in Luxury Resale Platform Cudoni

January 23, 2023BruceDayne

The UK-based luxury resale company announced the £7.5 million ($9 million) raise Monday.

EBay’s venture arm participated in the funding round, while Cudoni also raised capital from existing investors such as The Daily Mail Group Ventures and veteran retail executive Andrew Jennings.

Resale remains a fast-growing fashion market, despite profitability challenges for large players as they scale. It’s also an area where eBay has been looking to expand its market positioning.

“It is an outstanding vote of confidence in the brand and our ambitions, to receive investment from recommerce pioneer, eBay, during what has been an incredibly tough year for the consumer sector,” said founder and chief executive, James Harford-Tyrer, in a statement.

The latest investment brings the total raised by Cudoni to £14.3 million since its founding in 2017.

The platform says it connects “millions of buyers and sellers worldwide” and has items from over 4,000 brands available for purchase on its site, across categories such as luxury handbags, watches and jewellery, and streetwear.

Learn more:

Cudoni Hires Former The RealReal Retail Lead as Chief Commercial Officer

The luxury resale site has hired Michael Groffenberger as its first chief commercial officer. Groffenberger previously served as head of retail at The Real Real.



DMTBeautySpot

via https://dmtbeautyspot.com

Daniel-Yaw Miller, DMT.NEWS, DMT BeautySpot,

You Might Also Like

0 comments

DMT BarberShop

DMT BarberShop
Come get the professional touch you deserve!

YouTube Channel

Contact Form