Luxury resale platform Luxe Collective secures investment in Dragons' Den
Luxury resale platform Luxe Collective secured a £100,000 investment – in exchange for a 3% equity stake – from entrepreneur Steven Bartlett in the new series of the BBC's Dragons' Den.
The Liverpool-based business received investment offers from Barlett and fashion industry entrepreneur Touker Souleyman (owner of the Ghost and Hawes & Curtis brands) but opted for Barlett as his hugely popular podcast and approach to business resonated with the young founding team. Equally Barlett's social media acumen was deemed key given the importance of platforms such as Instagram (where it has more than 550,000 followers) to Luxe Collective's success. It has a total of 2.2 million followers across all social platforms.
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Luxe Collective was founded by brothers Ben and Joe Gallagher, whose story of previously being "unemployable" and turning their lives around through starting their own business, struck a chord with Barlett.
The brothers cited Bartlett's podcast "The Diary of a CEO" as being an inspiration as they built their business. The brothers, who set up the business in 2018, appeared on the show with their COO Oliver Millar.
The platform offers authenticated items from major brands including Chanel, Dior, Celine and Loewe among many others.
It promises private sellers a stress-free way of selling their pre-loved luxury and provides reassurance to buyers through its authentication and order tracking services, for example. Its Youtube channel provides regular product reviews while products are also showcased through regular Live Shopping events.
"We are excited to have had the opportunity to share our story and vision on such a respected platform," said Ben Gallagher, who is CEO of the business. "Being given this opportunity on this national stage is a testament to the hard work and dedication of our team, and we are excited to continue pushing the boundaries within the preloved luxury industry. This is just the start. You will hear more from Luxe, we promise you."
The episode is available to view on BBC's iPlayer.
