Reebonz Announces Strategic Partnership With Komehyo
07 March 2019 - 9:00AM
Reebonz Holding Limited (Nasdaq: RBZ), a leading online luxury
marketplace and platform in Southeast Asia, announced today that it
has officially partnered with Komehyo, one of Japan’s leading
offline pre-owned luxury product boutiques. As a part of the
agreement, Reebonz is expected to make Komehyo’s products available
to an estimated 5.5 million members on Reebonz’s platform, further
supporting both companies’ missions to bring authentic pre-owned
luxury to consumers around the world.
In the 40 years since Daiji Ishihara started
peddling kimonos from his bicycle in a small town outside of
Nagoya, the Ishihara family has grown the company to become Japan’s
leading seller of pre-owned luxury products, from bags, jewelry,
leather goods and accessories, to watches, shoes and apparel. While
Komehyo currently has 40 highly successful retail stores across
Japan and an online platform, they decided to partner with Reebonz
in order to further expand into Southeast Asia, acquire new
shoppers and expand its brand.
Nupur Sadiwala, Chief Finance Officer of
Reebonz, commented, “This partnership is exciting for both
companies. Komehyo’s early success during our Black Friday sales
event last year, when they achieved over $50,000 in sales in just a
short period of time, showed the potential of what a broader
partnership could bring. The next step for us is to continuously
support their growth in sales across Asia Pacific. Furthermore,
with the growing demand for authentic pre-owned luxury complemented
by growing demand for new luxury products, we believe that this
partnership will allow us to further deepen our eco-system strategy
of offering the broadest selection of quality new and pre-owned
luxury products.”
Shinji Kai, Assistant General Manager of
Komehyo’s IT department, added, “Following the decade-long success
of Reebonz in Southeast Asia and Asia Pacific, we felt that this
partnership will benefit both companies in the long run. In
addition to the opportunity for us to amplify our brand awareness,
we believe that by working with Reebonz, we will be able to further
improve our consistency in delivering authentic high quality
products to aspiring consumers across the region.”
Forward-Looking and Cautionary Statements
Certain statements made in this release are “forward-looking
statements” within the meaning of the “safe harbour” provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words “estimates,”
“projected,” “expects,” “anticipates,” “forecasts,” “plans,”
“intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,”
“propose” and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements. These forward-looking
statements are not guarantees of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside Reebonz’s control, that could cause actual
results or outcomes to differ materially from those discussed in
the forward-looking statements. Important factors, among others,
that may affect actual results or outcomes include: the ability to
regain compliance with NASDAQ stockholders’ equity and continue to
meet NASDAQ’s listing standards; Reebonz’s ability to manage
growth; the reaction of Reebonz customers and suppliers to its
business combination; rising costs adversely affecting Reebonz’s
profitability; potential litigation involving Reebonz’s
intellectual property; and general economic and market conditions
impacting demand for Reebonz’s products. See the risk factors
disclosed in the definitive proxy statement for Reebonz’ business
combination for additional risks. Reebonz does not undertake any
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. About Reebonz:
Headquartered in Singapore, Reebonz is the
trusted online platform for buying and selling a wide range of
luxury products. Reebonz makes luxury accessible by giving our
members more from the world of luxury through Reebonz.com and
Reebonz Closets app—a standalone C2C platform that allows customers
to buy and sell their pre-owned items to a community of over 5.5
million members. With an easy shopping experience, members can
enjoy convenient access to new and pre-owned luxuries curated from
all around the world. Reebonz has offices located in Australia,
Hong Kong, Indonesia, Malaysia, South Korea, Thailand, and Taiwan.
About Komehyo:Established in May 1979, Komehyo is
a leader in the sale of pre-owned luxury products, such as bags,
jewellery, small leather goods, accessories, watches, shoes and
apparel. With a collection of over 200,000 products across 40
stores in Japan, Komeyho believes in providing a wide range of high
quality items and with seamless customer service. Kohmeyo expanded
to Hong Kong in 2015 and also sells through eBay, Rakuten, Yahoo
Shopping, Yahoo Auction, and Amazon Japan. Komehyo started a C2C
service called KANTE in 2017 for individuals to sell their
pre-owned items. Komehyo also provides a B2B auction service.
Komehyo listed on JASDAQ in 2003 and on Tokyo Stock Exchange Second
Section in 2004.
For investor and media inquiries, please
contact: Reebonz Holding Limited | ir@reebonz.com
Christensen | Tip Fleming | tfleming@ChristensenIR.com |
Contact: +1 917 412 3333
For more information on Reebonz, please visit
www.reebonz.com
Stay connected with us
at:Facebook: @ReebonzSG |
Instagram: @ReebonzOfficial
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