Think bricks-and-mortar retail is dead? This store hit profitability in six months and is on the hunt for more.
Online luxury retailer Reebonz has celebrated the first anniversary of its debut concept store on 570 George Street, Sydney.
The company marked the milestone with a gala event on June 3, where it also announced the launch of Reebonz Marketplace.
Reebonz Marketplace is an online destination in Australia where members can buy, sell and consign pre-owned luxury goods nationwide.
The launch will allow members to access a consignment service for pre-loved luxury handbags and jewellery, both in-store and online.
Brands offered include Hermès, Chanel, Louis Vuitton, Bulgari, Cartier and Rolex.
Reebonz Australia general manager Neil Guo said the initiative was prompted by demand from local consumers.
“Since our store launch just one year ago, we are excited to implement this service after receiving extensive customer feedback for a seller component," he said.
Guo told ragtrader.com.au he had spent two years scouting for a flagship store before walking past its current CBD site.
The serendipitous moment proved lucrative for the business, with Guo claiming it reached profitability within six months.
The Reebonz concept store is in the heart of the city, with QVB, Town Hall Station and corporate offices within walking distance.
Guo is currently scouting for Reebonz locations in Melbourne.