Startup disrupting high-end bag resale market

Jan 05, 2017, 3:41 AM EST
(Source: Francesca Romana Correale/flickr)
(Source: Francesca Romana Correale/flickr)

Two startups, Rebagg and Trendlee, are disrupting the reseller marketplace with their services that cart off the middleman in the process of reselling high-end designer handbags. The venture, that raised $8 million in Series A funding, is based on a simple model whereby Rebagg buys the designer bag from its owner and resells it on Trendlee website.

The venture is different from traditional marketplaces like eBay and in the way that the seller doesn’t face the hassles of listing the item, waiting for the buyer or dealing with the final sale, writes ctpost.

The seller just needs to photograph the bag and submit the picture to Rebagg team, which in turn suggests a quote, buys the product and resells it, thus disrupting the traditional consignment model. The company boasts of a rich investor portfolio, including FJ labs, Metamorphic Ventures, Crosslink Capital, Founder Collective among others, notes Tech Crunch.

According to General Catalyst, a Rebagg investor, the company’s approach to speed up the payment to sellers and elimination of retail middle persons, give it an edge in the market.