Carousell acquires fashion thrift store brand Refash

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C2C buying platform Carousell has signed a deal to acquire omnichannel fashion recommerce retailer Refash in Singapore. Behind its partnership with Ox Street to strengthen authentication capabilities for used streetwear, the acquisition reflects the laser-focused group’s efforts to overcome the barriers of convenience and trust in selling and buying used goods.

Leveraging Refash’s offline retail foundation through 10 physical thrift stores across Singapore and its operational expertise in helping Singaporeans cash out, this partnership will enable ’empty-your-cupboard’ capabilities to help time-strapped sellers solve clutter in an instant, boosting sales. smoother than before. Refash has built a profitable foundation since 2015, and will continue to operate as its own brand, maintaining its name, platform and team. This acquisition will foster synergistic partnerships between markets and accelerate the pace of recommerce in Singapore, Carousell said in a press statement.

With the acquisition, Carousell looks to strengthen its presence in the fashion space that has been around since 2012. Focusing on feedback from the Carousell community, one of the main concerns is that users don’t have time to sell. The partnership with Refash allows Carousell to take the next significant step for one of their core categories to make selling used fashion simpler, and to strengthen the future of sustainable and circular fashion.

“We are privileged to partner with the Refash team, who share our passion for making second-hand goods the first choice, and bring over seven years of experience in the fashion re-trading field. We see a great opportunity in working together to make selling simpler for anyone who is short on time and has less-used clothes in their wardrobe,” said Quek Siu Rui, Co-founder and CEO of Carousell.

“With our reach and expertise in using technology and AI to create a seamless buying and selling experience for used goods, we are excited to partner and accelerate the growth of Refash. Above all, we are excited to join a mission-oriented team to serve society by making secondhand fashion more fuss-free and accessible than ever before,” he added.

Carousell says it lists fashion among its largest categories for supply and demand in most of its markets.

Aloysius Sng, founder, Refash added that he looks forward to leveraging Carousell’s capabilities and existing network to open up more growth areas. “Through our network of physical thrift stores, we provide consumers with the most sought-after service to tidy up their closets in a fast and hassle-free way, and together with Carousell, we can enable more people to participate at both ends of the spectrum. , namely to buy and sell used clothing. I’ve never been more excited about Refash and its recommerce potential as we continue to make buying second-hand goods fun,” said Sng.

Separately, Carousell has also teamed up with IKEA Singapore to launch a secondhand showroom at IKEA Tampines in celebration of Earth Day. The month-long physical showroom at IKEA Tampines features second-hand IKEA goods from influencers such as singer-songwriter Nathan Hartono, Tiong Jia En, Munah Bagharib and even Carousell co-founder Marcus Tan from 21 April to 30 June 2022. The showroom will feature Here are the items and their stories, to show how second-hand goods can be desirable, inspiring and aspirational, IKEA said in a statement

Courtsey’s photo: 123RF

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