Luxe Collective robbed of £500k worth of product
Ben Gallagher, Co-founder of Luxe Collective, has announced that the company’s warehouse was broken into over the weekend. Half of Luxe Collective’s inventory was robbed, totalling approximately £500,000 worth of designer clothing, handbags and accessories.
Gallagher took to LinkedIn to share his woes, writing: "On Monday morning my brother rang me up to tell me we had been robbed. Initially, I thought he was joking. Until I realised he wasn’t. Never, do you ever think it’s going to happen to you until it does."
He added that the "warehouse is fitted with several cameras, alarms, locks and sensors to detect any unusual activity. Unfortunately, on this occasion, after what looks like meticulous planning and careful preparation. A blindspot was identified and infiltrated."
Luxe Collective was founded by brothers Ben and Joe Gallagher as a consignment store in Liverpool in 2018. At the time, Ben was only 17 and Joe was 21, but they inquisitively predicted the future growth of the luxury resale market.
From rare vintage gems to cult-classic designer sneakers, Luxe Collective has become one of the go-to places for luxury re-commerce. The company has garnered a solid reputation and caught the eye of Steven Bartlett on BBC's Dragons' Den, who gave the founders £100,000 for a 3% cut. This impressive feat on national TV may have brought the company more exposure than it bargained for.
Last weekend, a professional group stole around £500,000 worth of products from the company's warehouse. This is approximately 50% of what Luxe Collective owns.
Following the recent incident, resale sites, not too dissimilar from Luxe Collective's, will be meticulously watched as the perpetrators are expected to sell the stolen goods on the second-hand market.
@luxecollective Luxe Collective HQ was broken into over the weekend, where a professional group took around £500,000 worth of products. Everybody who has been affected by this has been emailed & we are here for all your messages and questions around the next steps we are taking. This is the most devastating news we’ve ever had as a company - but what doesn’t kill you, makes you stronger.
Gallagher concluded: "When I found out, I was just numb, to be honest, but today, after running through what was taken, the figures, the product, the insurance next steps and actions… It’s just such an empty and crippling feeling.
"We have notified all customers and stakeholders who have been affected by this and trust me, we are as devastated as you. We will keep everyone updated with what we know as soon as we know.
"However devastating it is, this will not stop us, this will make us stronger."
