WASHINGTON--(BUSINESS WIRE)--The founders of SnobSwap, the leading online pre-owned luxury consignment platform, today 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. Seen by users 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 brick-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 brick-and-mortar resale industry is valued at $20B.
The LePrix Certified Store Network is supported by real-time inventory updates and omnichannel 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. This exclusive network of more than 500 pre-vetted brick-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 online resale industry is currently considered one of the fastest growing segments in ecommerce 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 brick-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.
LePrix (formerly known as SnobSwap) is an e-commerce platform that provides online shoppers with instant access to a curated network of designer consignment boutiques. LePrix currently features 500 designer resale stores across 5 countries. Originally launched by sisters Elise Whang and Emily Erkel in 2014, the duo sought to establish a company that would redefine designer consignment shopping for those seeking access to affordable luxury and unique designer pieces from boutiques around the world.
For more information, visit LePrix.com.