LastLook – the Australian-born, Gabby Leibovich-backed online platform that helps fashion brands sell aged inventory in closed-door sales events – has outgrown its original schedule.
When LastLook launched in November 2025, its original plan was to run about one major sale a month. Each sale features a single brand, is open only to LastLook's invite-only membership, and runs for 48 to 72 hours behind a password. The idea is to let brands offer steeper discounts than they would in public, without exposing that to their full-price customers.
Nearly a year later, LastLook is effectively booked for weekly events and is considering going beyond one a week.
Founder Josh Lever said the change came faster than the business expected. He said it was driven by brands approaching the platform directly, partners returning for second and third events, and members asking for more sales. This has included the likes of Decjuba, Beginning Boutique, Petal & Pup, Third Form, Manning Cartell and more.
"In the beginning, much of our time was spent approaching brands, introducing the model and explaining what we were building," Lever said.
He said the platform still does outreach, but inbound interest and referrals now account for a growing share of new brands. Member demand has also started some conversations. Certain brands are requested repeatedly by LastLook's audience, and that has led the business to approach them.
According to Lever, almost one in five customers purchasing through LastLook are returning customers, and they account for nearly 40 per cent of revenue. He said many of those repeat shoppers go on to become first-time customers of the brands featured.
"That gives us confidence that we are not simply attracting one-off deal hunters," he said.
Lever did not share a typical sell-through rate, but he did note that it can vary widely between events. This is because one brand might supply a few thousand units while another brings tens of thousands accumulated over several seasons.
He instead described two measures of an event's success: how much aged inventory it moves, and how many new customers it introduces to the brand.
He positioned the private event model against the other options for aged stock. Public markdowns sit in front of a brand's existing audience alongside full-price product. Factory outlets carry infrastructure and operating costs. Off-price wholesalers give brands little visibility over where their product ends up.
"Traditionally, a brand might spend $10, $20 or $30 or more acquiring a new customer through paid media, with no guarantee that spend results in a transaction," he said.
Lever said brands are becoming more disciplined about future buying, but that hasn't shrunk the ranges they bring to LastLook. The ranges brands are discussing with the platform are becoming broader and deeper, and some brands he has spoken to are carrying more than 60,000 units of excess stock.
"It represents cash tied up in inventory, warehouse space being consumed and management attention being diverted towards stock the business would rather have moved on from," he said.
He said LastLook now prefers more breadth across categories, styles, sizes and price points. Its conversations with brands increasingly cover how much stock it can work through over multiple events, rather than in a single sale.
Gabby Leibovich, a backer of LastLook, built his career in flash sales through Catch and Scoopon. That model faded once mainstream retailers built their own outlet and EDM channels.
Lever said LastLook differs because it is designed around brand protection rather than as another discount marketplace. Each event is private and controlled, and the business invests in creative intended to match how each brand presents itself.
"The aim is for a LastLook event to feel like a considered extension of the brand, not a liquidation page," he said.
He said earlier flash sale models were largely transactional. LastLook, by contrast, wants brands to return so it can build familiarity with its audience over time. He added that Gabby and Hezi's long history in the category meant the team understood what had and hadn't worked in previous models.
Lever said excess inventory was not confined to any one pricing tier across the fashion market. What differed was the scale of the problem and what each brand needed. Commercial brands tend to need concentrated demand to clear large volumes. Premium brands may hold less stock but are more sensitive about where it appears and how heavily it is discounted.
He said the business is now segmenting its audience by the brands, categories and offers each group responds to, so it can match each event to the right customers.