Reebonz Announces Expansion of “Sell to Reebonz” Service to Jewelry
24 July 2019 - 10:35PM
Reebonz Holding Limited (the “Company” or “Reebonz”; Nasdaq: RBZ),
a leading online luxury marketplace and platform in Asia Pacific,
announced today that it has expanded its “Sell to Reebonz” service
to selected jewelry and accessories. With this category expansion,
Reebonz aims to deepen its relationship with customers and provide
more options on products that can be sold back to the platform.
Reebonz originally launched the “Sell to
Reebonz” service in May 2019 in Singapore in categories such as
Bags, Small Leather Goods and Watches. With a pre-populated list of
products, customers can expedite the selling process by choosing
the product they want to sell, and quickly receive Reebonz Credits
for the products that are successfully accepted. With Reebonz
Credits in their account, customers can make additional purchases
and offset some of the costs. Reebonz recently expanded the “Sell
to Reebonz” service in Malaysia, Indonesia, Hong Kong, Taiwan, and
Australia.
With the expansion of this service to pre-owned
jewelry and accessories, Reebonz hopes to encourage existing
sellers to widen their use of the platform and attract new sellers
to the Company. Pre-owned jewelry and accessories from selected
coveted brands such as Chanel, Hermès, Christian Dior, Bvlgari,
Cartier, Celine, among others, have already been added to the
catalog.
Daniel Lim, Co-founder and Chief Product Officer
of Reebonz, commented, “We are extremely excited to expand our
‘Sell to Reebonz’ service to other categories. We have been able to
build a highly trusted platform for buying and selling new and
pre-owned luxury products in Asia by continually adding unique and
creative new services that appeal to a rapidly growing group of
middle-class consumers. ‘Sell to Reebonz,’ along with our ‘Sell
Back Guarantee’ and ‘Reebonz Credits,’ are strategic new services
that are successfully helping to drive a virtuous circle, where
more buyers are becoming sellers, and more sellers are becoming
buyers. We plan to continue to expand these services in other
countries and categories this year.”
Forward-Looking and Cautionary
StatementsCertain statements made in this release are
“forward-looking statements” within the meaning of the “safe
harbor” 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 maintain NASDAQ’s continued 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 Reebonz’s most recently filed prospectus,
filed with the SEC on April 17, 2019 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.
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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