The love for luxury fashion and goods and the feeling of owning and donning Designer Jewels from popular brands can be quite related by most of us.
The ability for people to buy and sell is made easier through an online boutique and e-marketplaces that are hosted and established by companies whose businesses are run by them.
Similar in nature to the good old eBay – an American e-commerce company, many other enterprises are establishing such online marketplaces making it feasible, accessible, user-friendly, and flexible when required to buy or purchase any product that is being marketed.
A business like an online fashion marketplace acts as a mediating buyer and seller between two groups or parties. This online platform can benefit in several ways.
Be it by promoting a brand, attracting a loyal customer base, increasing sales, and generating revenue for a brand, e-marketplaces can serve as a potential and genuine middleman in the buying and selling of people’s belongings and goods.
Therefore in this article, we shall explore the journey and story of The Luxury Closet and its founder – Kunal Kapoor, who established an online boutique and e-marketplace platform in UAE that took to the skies immediately after its conception.
Kunal Kapoor – CEO and Founder:
Being one among a three-membered group were the pillars upon which The Luxury Closet was built, this online marketplace was founded by Kunal Kapoor.
Having previously worked in the fashion industry in a managerial position at Louis Vuitton, Kunal Kapoor, and his team went on to sell their first product ever – a Hermes Birkin Handbag, which was the climbing and ejection phase of its popular rocket launch.
Launched in the year 2012, Kunal Kapoor founded The Luxury Closet in luxury retail to buy and re-sell new as well as previously owned luxury items and goods. Established in the Middle East, Dubai, The founder and CEO of the TLC Family offers the people – “Unique Luxury Pieces, Affordable Luxury, and a Trusted Platform.”
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The Luxury Closet:
Luxury items such as Handbags, Watches, Shoes, Clothes, Fine Jewelry, and other accessories for both Men and Women, a range of brands from all over the world are being bought and re-sold by people.
From Rolex to Gucci, Hermes to Prada, and Louis Vuitton to Channel, and 40k+ designer brands in the like, many people on a global scale own or have inherited luxury goods, designer brands, and exquisite jewelry pieces.
The Luxury Closet provides an estimation while saying that around 500 billion dollars worth of luxury items sit in people’s closets and to replace that they purchase 300 billion dollars worth more of branded items.
With such an estimation, it is a good and beneficial platform for The Luxury Closet to run its operations as an e-marketplace for luxury items and designer goods.
On its growth and journey, the business and enterprise has had investors from Middle East Venture Partners to Wamda Capital, from the Dubai Silicon Oasis Authority to Two Four 54, and from MENA Venture Investments to Huda Beauty – the team has expanded to being a 150-member workforce that also specializes in authenticating goods received and sold to maintain quality assurances.
Being the largest and most recognized luxury marketplace in the Middle East – The Luxury Closet lays its foundations on – “Circularity, Authenticity, and Excellent Customer Service.”
The authentication of the goods received and resold by the platform are marketed and priced at a good 70% off as well as offers a seamless range of payment options and methods for easy payments credited and deposited to the buyer’s or seller’s account.
The Luxury Closet – founded by CEO Kunal Kapoor in 2012, established its headquarters in Dubai. Being a luxury e-marketplace and online boutique for a diverse range of brands, the company runs operations in the buying and selling of luxury goods and designer items. Shopping globally, the workforce of TLC has over 16 nationalities working on-site making business operations run smoother and dynamically. Recognized globally by Elle, Glam, The National, and more, TLC was mentioned and recognized in the ‘Top 100 Arab Startups Shaping the Fourth Industrial Revolution.’