The founders of SnobSwap, an online pre-owned luxury consignment platform, recently announced the launch of their rebranded site now called LePrix.com.
The company has been known for its ability to offer new inventory every minute from numerous consignment boutiques by giving items in the fashion and luxury marketplace a second life. Cited as an “online luxury mall,” the company continues to expand its global reach with partnerships that would otherwise not be available without the LePrix platform.
While consumers benefit from the convenience of accessing hundreds of pre-verified luxury consignment boutiques through LePrix.com, the bricks-and-mortar designer resale industry now has the ability to establish an online presence with the exclusive LePrix Certified Store Network, powered by its propriety platform. The bricks-and-mortar resale industry is valued at US$20 billion.
The LePrix Certified Store Network is supported by real-time inventory updates and omni-channel tools that have been integrated into the proprietary platform for store partners. As a result of this business model, in-network boutiques can liquidate and buy excess inventory amongst each other from one platform, called the LePrix Wholesale channel, which has grown 800% annually, according to the company. This exclusive network of more than 500 pre-vetted bricks-and-mortar store partnerships across North America, Europe and Asia, allows consumers to access the most trusted curation of luxury inventory merchandise found in the resale marketplace. The e-tailer noted that online resale industry is currently considered one of the fastest growing segments in e-commerce retail.
LePrix features the largest combined collection of pre-owned, authentic designer handbags including Chanel, Louis Vuitton, Hermes and Gucci in the resale marketplace and brings users closer to luxury brands ranging from trending in-season items to the rarest vintage finds.
LePrix (pronounced Luh-Pree) means “the prize” in French and the founders decided the name was apt for both the new direction and genesis of the company. “Over the next 10 months, LePrix will be executing several phases of the platform, including showcasing the tight-knit integration of bricks-and-mortar to online and offline experiences. These steps are key to bringing the highly fragmented resale store industry together so customers can benefit with the convenience of shopping both online and in-stores,” said Elise Whang, co-founder and CEO of LePrix.