Luxury Resale Platform Rebag Announces $33M in Series E Funding To Fund Brick-And-Mortar Expansion
Rebag, the authority for buying, selling and trading luxury, announces $33 million in a Series E funding round, led by private equity firm Novator, with participation from existing investors including General Catalyst.
This brings the company’s total funding raised to $101 million. Following a strong year driven by technological advances and category expansion, this latest round positions Rebag for its next cycle of innovation and accelerated growth.
In the last 12 months, Rebag has maintained its high growth trajectory. The company has experienced a 4x growth of new categories such as fine jewelry and watches since the company’s category expansion in 2020, tripled sourcing due to the launch of Clair AI and Clair Trade and has seen one in five buyers simultaneously trade items to Rebag following the recent Clair Trade launch.
Rebag will also use the round to scale its tech-enabled brick-and-mortar business. Over the past year, Rebag has modified its traditional retail model, integrating high-tech touchpoints throughout the store aimed at providing consumers with a truly immersive retail experience, in a more compact format.
At each “Clair Corner,” customers can use a self-service kiosk to receive an instant price quote on the item they are selling via the Clair by Rebag software suite. Last December, the company launched its first “Rebag Bar” inside The Shops at Columbus Circle in New York City, a micro version of its traditional store offering a gateway to the Rebag ecosystem through a personalized digital shopping journey.
I have 15 years of experience in the retail industry including expertise in marketing, operations, merchandising, buying, shopping and technology. I am a speaker, consultant and former senior managing director of The School of Retailing, University of Alberta. My education includes a Bachelor of Commerce Degree from The University of Alberta in Marketing, Certificate in Real Estate and a Diploma in Fashion Merchandising and Buying from LasSalle College, a Canadian private school founded in 1959 by fashion designer Jean-Paul Morin.