Fashionphile acquires LXRandCo to expand into B2B Wholesale

FASHIONPHILE, a leading e-commerce platform specializing in pre-owned, ultra-luxury accessories, has announced its acquisition of LXRandCo, Inc. and its operating subsidiaries, LXR Luxury Products International Inc., Groupe Global LXR Inc., and LXR Canada Inc. This news comes on the heels of the Subject Companies’ recent filing of a notice of intention to make a proposal under the Bankruptcy and Insolvency Act (Canada).

“With this acquisition, we are excited to forge a new path in wholesale and provide trusted, authenticated, branded accessories to even more sectors of the growing second-hand market,” said Ben Hemminger, co-founder and CEO of FASHIONPHILE. “LXR has been a pioneer and longtime leader in B2B wholesale within the pre-owned luxury space. As we aim to maintain our position as the most sought-after brand for buying and selling pre-owned, ultra-luxury accessories, it is paramount that we participate and invest in all possible retail channels that touch re-commerce in…