Luxify

Luxify Limited

Company type	Private
Industry	Online marketplace
Founded	2013
Founder	Florian Martigny, Alexis Zirah
Headquarters	Hong Kong  , Hong Kong
Parent	My Fashion Republic Group[1]
Website	www.luxify.com

Luxify is a Hong Kong-based company, providing an online marketplace for new, vintage and used luxury goods.^[2][3] The company manages an online marketplace website in which members buy and sell a variety of luxury goods.^[4] It was Hong Kong's first online marketplace to buy and sell luxury goods^[5] The site has over 15 categories, including real estate, watches, jewelry, luxury cars, yachts, aircraft, luxury handbags, art, collectibles, furniture, antiques and fine wines & spirits.^[6] As of March 2016, the website had over 22,000 listings from luxury dealers from all over the world, making a US$18.6 billion marketplace. Luxify also has offices in Singapore and London and local partners in Shanghai and Jakarta.^[7]

History

The company was founded in 2014 by Hong Kong-based businessmen Florian Martigny and Alexis Zirah to create a global marketplace specifically for luxury products.^[3] When the founders were looking to buy luxury products in Hong Kong, they were disappointed when they couldn't locate a reliable online resource, where people could trade items. Realising that most luxury purchases, especially in Asia, were influenced by online touchpoints, they decided to create an online marketplace for new and used luxury products with the aim of creating more liquidity and transparency in the luxury market. They officially launched their website Luxify.com in 2014.^[8] Luxify received its angel funding round from private investors located in Asia and Europe to continue its global expansion.^{[9][10][11][12][13]} Luxify was named one of Asia's most promising internet companies in 2015.^[14] The company also partners with luxury goods companies to widen their market and reach.^[15] In June 2015, Luxify partnered with Landscope Christie's International Real Estate to offer consultative service for clients who wish to purchase the finest overseas vineyard properties.^[16][17][18] Also, seeing Philippines as being one of the greatest economic growth countries in Asia, Luxify teamed up with Salcedo Auctions, which is the only auction house in the Philippines to specialise in the sale of fine art, jewelry, decorative arts and collective accessories, to promote its upcoming Collector's Sale auction.^[19][20] In October the same year, Luxify partnered with Zachy Wine Auction for its final auction of the Fall 2015 Hong Kong season to showcase collections of some of the finest wines and spirits.^[21]

Notable listings

Apart from listing famous brand items like supercars and classic cars from Rolls-Royce, Ferrari and Porsche; and classic watches from Hublot and Rolex; Luxify also has notable and special listings:^[22]

• August 2016: one of the most complete and highest-quality tyrannosaurus rex skulls - "Rees Rex" was listed on Luxify, for at least $1.8 million US dollars. Separately, a mounted triceratops prorsus skeleton, with a reserve of around $790,000 US dollars; and a mounted tyrannosaurus rex skeleton priced at $2.39 million; were also listed. The fossils were discovered by Theropoda Expeditions, a private American dinosaur fossil exploration firm, in 2015.^[23][24][25]
• December 2015: The former home of famous pop star Michael Jackson, Neverland, was listed on Luxify after it was on the market for sale for six months and failed to attract local buyers.^[26][27] It was listed on Luxify for around US$100 million with the aim of targeting Asia's super wealthy.^{[28][29][30][31]}
• December 2015: Michael Jordan’s estate in Highland Park was also listed on Luxify.^[32]

References

1. OutReach, Media (October 29, 2019). "Luxify.com acquired by My Fashion Republic Group". Business Insider Singapore. Archived from the original on November 5, 2019. Retrieved November 21, 2019.
2. "青年企业家打开第一豪宅市场在香港". Hong Kong Commercial Daily. Jan 12, 2014.
3. "两名当地商人推出的网上奢侈品市场". Sing Pao Daily News. April 12, 2014.
4. "White paper triggers heated debate". South China Morning Post. June 14, 2014. Retrieved December 12, 2014.
5. "Hong Kong Business". Retrieved 2016-08-24.
6. "Luxify - StartbaseHK - The up-to-date tech database covering Hong Kong-based startups". www.startbase.hk. Retrieved 2016-08-24.
7. "RTHK Player". gbcode.rthk.org.hk. Retrieved 2016-08-24.
8. "Luxify banks $800,000 for luxury bartering online". www.fashinvest.com. Retrieved 2016-08-24.
9. "Hong Kong Luxury Marketplace Luxify Scoops Angel Investment to Boost Global Expansion". TechNode. 2015-04-01. Retrieved 2016-08-24.
10. "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2016-08-24.
11. "Hong Kong's online luxury marketplace Luxify raises US$800K - Kungpao.tv". kungpao.tv. Retrieved 2016-08-24.
12. "Funding roundup - week ending 4/3/15". 2015-04-03. Retrieved 2016-08-24.
13. "Hong Kong's online luxury marketplace Luxify raises US$800K". Retrieved 2016-08-24.
14. "One-stop luxury: 24 startups in Asia that caught our eye". TechInAsia.
15. "One-stop luxury: 7 best online shops in Hong Kong". Lifestyleasia.
16. "PressKit". press.luxify.com. Retrieved 2016-08-24.
17. "Luxury Daily". www.luxurydaily.com. Retrieved 2016-08-24.
18. "Luxify & Landscope Christie's Launch Partnership Responding to Growing Wine Investment Trend - Luxury Property Market Blog By Landscope". Retrieved 2016-08-24.
19. "PressKit". press.luxify.com. Retrieved 2016-08-24.
20. "On-line market Luxify enters Philippines | Retail News Asia | Retail News | Retail Asia". 2015-06-10. Retrieved 2016-08-24.
21. "PressKit". press.luxify.com. Retrieved 2016-08-24.
22. "Top 10 Watches for Car Lovers and Enthusiasts". The Watch Pages. 2020-07-10. Retrieved 2024-07-16.
23. Ap, Tiffany. "For sale: A $1.8 million T-rex skull". CNN. Retrieved 2016-08-24.
24. "The US 1.8 Million T-rex Skull".
25. "Real T-rex skull goes on sale in Hong Kong for US$1.5 million". Retrieved 2016-08-24.
26. "Why Neverland Ranch is being eyed by Asian buyers - BBC News". Retrieved 2016-08-24.
27. "Wanted: Chinese buyer for Michael Jackson's Neverland". Retrieved 2016-08-24.
28. "Will Michael Jackson's Neverland ever sell? Asian buyer with US$100 million to spend now sought on Hong Kong's Luxify after US market sale flops". Retrieved 2016-08-24.
29. "Wanted: Chinese buyer for Michael Jackson's Neverland". www.msn.com. Retrieved 2016-08-24.
30. Chandran, Nyshka (2015-11-27). "Wanted: Chinese buyer for Michael Jackson's Neverland". CNBC. Retrieved 2016-08-24.
31. "Michael Jackson's Neverland Ranch for Sale in Asia".
32. "Michael Jordan Estate in Highland Park".