LISBON – Circular solutions provider Reflaunt has secured US$11 million via a Series A funding round, which it’ll use to bolster its services and forge new partnerships.
Ventech China, Bombyx Growth Fund and Global Blue led the financing, with the latter’s portfolio of brands – which include Burberry, Prada and Louis Vuitton – set to tap into Reflaunt’s resale-as-a-service infrastructure and establish a foothold in the secondhand market.
“The resale market is one of the fastest growing sectors in luxury, and customer demand for circular fashion is strong. Our partnership with Reflaunt continues to place us at the forefront of innovation for retail growth areas, enabling us to constantly offer new solutions that empower our merchants to capture the opportunities these fast-growing new sectors represent,” said Tomas Mostany, Global Blue’s senior vice president of strategy and chief product.
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