Rebag Secures $15 Million Series D Funding

Rebag’s stock of secondhand Chanels are flush with cash, this time from a $15 million Series D led by Novator. The round brings Rebag’s total funding to $68 million.

We were just here

Rebag competitor Vestiaire Collective recently nabbed $64 million in funding. Proponents believe an economic downturn will buoy resale: “As the economy gets more challenging for everyone, everyone is going to be seeking value,” Rebag CEO Charles Gorra tells me. “The secondary market offers...access to premium products at a more attractive price point.”

Overall, resale is 🆙. Rebag sold more handbags in late April than it did on Black Friday ’19. Vestiaire Collective sales jumped 20% in the same period, per BoF.

But Rebag has advantages over its peers...

• Tech. Rebag owns a proprietary appraisal tool, Clair, that 1) speeds up the listing process for sellers while 2) cutting operational costs.
• Specialization. Rebag only handles used handbags—nothing else. As full-price luxury lags in the pandemic, McKinsey notes handbags are outselling most other categories.

Looking ahead...Gorra says designer brands will hang up their hang-ups about resale partnerships to survive. He explains why in the rest of our interview.