Pre-owned goods site Luxury Promise launches new e-commerce platform

By

Barbara Santamaria

Published
Jun 12, 2018

Second hand luxury goods site Luxury Promise is launching a new e-commerce platform powered by Artificial Intelligence to help customers price their pre-owned accessories more competitively.

The website launch follows a seed round led by Esha and Robin Arora, owners of B&M; and the Abu-Ghazaleh family, owners of Fresh Delmonte Produce, to expand into the Middle East and invest in technology.

"We want to be the Uber of luxury by providing a fast and instant service. Our new platform elegantly blends the extensive knowledge of luxury price trends and technology to provide unrivalled service: a lady can now value a Hermes Birkin bag she bought years ago in a few seconds. If she likes the price, she can consign it, or sell it for hard cash,” says Sabrina Sadiq, co-founder & CEO of Luxury Promise.

Launched in 2016, the London-based business aims to sell the world’s most exclusive, rare and luxurious accessories. It was founded by Sabrina Sadiq after she became an expert in identifying authentic luxury goods during her time as head of pricing and authentication at American resale brand Designer Exchange.

The website uses an AI technique called Deep Learning to provide customers with pricing insights, bringing new technologies into the world of luxury e-commerce.

"We see ourselves as a luxury and a technology company. Technology is opening new opportunities in the field of luxury that will be seized by fast movers delivering outstanding value to their customers,” Sadiq said.