Reebonz

Reebonz
Private
Industry E-commerce
Founded March 2009
Founders Samuel Lim, Daniel Lim, Benjamin Han
Website http://www.reebonz.com

Reebonz is an online platform for buying and selling luxury products. Modelled around the concept of 'accessible luxury', members can shop on web or mobile for an exciting collection of new and pre-owned luxury merchandise. Visitors are required to log in via Facebook Connect, or register as a member with their email addresses before they can view and shop the sale events. Membership is free.[1][2][3]

Reebonz targets customers in the Asia-Pacific region, and is one of the most established online luxury sales companies in Southeast Asia consisting of over 300 staff, with business operations in eight countries in Singapore, Malaysia, Indonesia, Taiwan, Hong Kong, Thailand, Australia and South Korea.[2][4][5]

History

Samuel Lim, Daniel Lim, and Benjamin Han co-founded Reebonz in March 2009, starting the company with a team of 18 employees.[4][5][6] Prior to Reebonz, Samuel Lim founded one of South East Asia’s largest mobile content business, Fusion Mobile, in his first year of university in 2000. In 2004, he founded another line of business under eFusion Solutions Pte Ltd called Fusion Direct. Benjamin Han and Daniel Lim had their first taste of e-commerce when Zuunbo.com was launched in 2007. Zunnbo.com gained success and was awarded seed funding by the Singapore Management University (SMU) Business Innovation Generator, which manages the Entrepreneurial Talent Development Fund together with SPRING Singapore for investing in promising business proposals. Benjamin and Daniel decided to expand upon their success and conducted market research on consumers’ buying patterns online, which eventually sparked the idea of Reebonz. The duo wasted no time in introducing the concept to the Asian market with Samuel.[1][3]

Products and services

Marketplace

In May 2015, Marketplace was launched as a global portal for merchants from around the world to list rare luxury fashion items for Reebonz members.

Sell and Consign

In April 2014, Reebonz.com merged with Reebonz Vintage to provide buyers and sellers with a curated collection of pre-owned designer items.[7] The Sell and Consign service is available in Australia.

Closets

Launched in January 2015, Closets is the mobile selling platform in the Reebonz app that provides buyers and sellers with a curated collection of pre-owned designer items from leather goods, small leather goods, apparels to jewellery and watches. With a live chat function, buyers and sellers are able to enquire about the listed item, request for more images or negotiate on the final selling price. With advanced integration of the uploading and interaction process, Closets enhances the seamless do-it-yourself mobile experience where members can buy and sell pre-owned luxury goods effortlessly. Closets is available in Singapore, Malaysia, Hong Kong, Taiwan province China and Thailand.

White Glove

White Glove is a concierge service where Reebonz helps members sell their pre-owned designer items. Reebonz picks up members' items for free and provides copywriting services before listing the item for sale. White Glove is available in Australia, Hong Kong, Taiwan and Myanmar.

Reebonz Atelier

From authentication and valuation to restoring and repairing, a team of Leather Artisans,[8] Gemologists [9] and Watch Connoisseurs [10] at the Reebonz Atelier are equipped with the expertise to ensure that all pre-owned items are in their best possible conditions.

Mobile applications

Reebonz launched its mobile application for iPhone and iPad in 2010, and later for Android in July 2012.[11][12]

Reebonz SPACE

In September 2011, Reebonz launched its retail lounge, Reebonz SPACE, a premium boutique set to reinvent the luxury shopping experience. With its sleek conceptual design, it delivers a unique retail experience that sees the seamless interaction of fashion and lifestyle experiences.[7][13][14][15]

Reebonz SPACE is currently located in the following four countries: Singapore, Malaysia, Thailand, Australia and Myanmar.

Reebonz Mobil

In May 2011, Reebonz launched Reebonz Mobil, a 40-foot-long mobile truck version of its online flash sales concept. A luxury boutique on wheels, the truck could hold 150 items, and a maximum of 20 shoppers and staff members on board the truck at a time. The Reebonz Mobil was thought to be the first shopping platform of its kind in the shopping industry.[16]

Awards and recognition

2012

NTV7 MY’s The Breakfast Show featured Reebonz.[7]

Cosmopolitan SG awarded the 2012 Cosmo Webby Award for Best Site for Luxury Handbags to Reebonz.[17]

2013

In early 2013, Singapore's media giant, MediaCorp, signed on as lead investor in a round of fund-raising by Reebonz. The round raised a total of S$50 million from MediaCorp and existing shareholders. This brings Reebonz's market valuation to likely cross the $250M mark. This is the first time MediaCorp has invested in an online retail firm - a time when e-commerce is flourishing.[18][19][20][21]

Reebonz was rewarded the Most Addictive Online Store by Fashion Awards of Cleo SG

2014

Reebonz was featured in Luxe Asia [22] of Channel NewsAsia

8TV (Malaysia) Eve's Diary interviewed Reebonz in The Quest for Getting the Perfect Designer Bag

References

  1. 1 2 "Reebonz Media Kit" (PDF). Reebonz. Retrieved November 26, 2013.
  2. 1 2 "A year of new frontiers". Malaysia Chronicle. Retrieved January 31, 2013.
  3. 1 2 "Accessible Luxury". The Edge. Retrieved November 26, 2013.
  4. 1 2 "Reebonz Case Study" (PDF). Joyent Cloud. Retrieved February 7, 2013.
  5. 1 2 "Samuel Lim". EO Asia. Retrieved February 7, 2013.
  6. ↑ Stockdill, Robert. "Luxury shopping on wheels". Inside Retail. Retrieved February 7, 2013.
  7. 1 2 3 "Reebonz Unveil the Surprise" (PDF). InDesign Live Asia. Retrieved February 7, 2013.
  8. ↑ "Team of Experts - Leather Goods". Reebonz. Retrieved September 22, 2014.
  9. ↑ "Team of Experts - Jewellery". Reebonz. Retrieved September 22, 2014.
  10. ↑ "Team of Experts - Watches". Reebonz. Retrieved September 22, 2014.
  11. ↑ "REEBONZ for iPhone". Retrieved February 7, 2013.
  12. ↑ "New apps: ILoveDeals, mVoucher, REEBONZ, Foound, My Movies, and much more". iMerlion. Retrieved February 7, 2013.
  13. ↑ "Reebonz Flagship Store". Retrieved February 7, 2013.
  14. ↑ "Reebonz opens its own private space for members". Retrieved February 7, 2013.
  15. ↑ "Reebonz Unveils Private Members’ Lounge". Retrieved November 26, 2013.
  16. ↑ Murugappan, Ravathi. "Luxury boutique in a 40-foot truck". The Star. Retrieved February 7, 2013.
  17. ↑ "FOR YOUR SURFING PLEASURE". Cosmopolitan SG. Retrieved February 7, 2013.
  18. ↑ "Singapore-based luxury shopping site Reebonz nabs $40 million investment led by MediaCorp". The Next Web. Retrieved November 26, 2013.
  19. ↑ "MediaCorp Invests US$40 Million in Reebonz, Values the Luxury E-Store at US$200 Million". Yahoo Finance. Retrieved November 26, 2013.
  20. ↑ "MediaCorp Invests in Singapore luxury online retailer, Reebonz". MediaCorp. Retrieved November 26, 2013.
  21. ↑ "MediaCorp invests in luxury online retailer Reebonz". The Malaysian Insider. Retrieved November 26, 2013.
  22. ↑ "Luxe Asia - Channel NewsAsia". Channel NewsAsia. Retrieved September 22, 2014.
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