Sellier Knightsbridge, a luxury resale platform, has announced its acquisition of rival platform Worn and its store in Belgravia, London. The specific financial details of the acquisition have not been revealed. Sellier’s acquisition of Worn is a significant step towards its goal of becoming the largest luxury reseller in the UK. Both companies cater to high-net worth individuals, making the acquisition a natural fit for Sellier’s expansion plans.
Under the terms of the deal, Worn’s buyers and sellers will be incorporated into the Sellier platform, leading to a projected 25% increase in the company’s business in the next year. By integrating Worn’s customer base into its own, Sellier aims to solidify its position as a dominant player in the luxury resale market.
Sellier, established in 2019, currently operates physical stores in Knightsbridge and Monaco, in addition to its online presence. The company specializes in offering rare modern and vintage pieces, and since its inception, it has consistently witnessed revenue growth. This year, Sellier expects to experience further revenue growth, with a target of surpassing £20 million. This growth will be driven by the thriving luxury resale market.
With the addition of Worn’s retail space in Belgravia, Sellier plans to continue expanding its physical store network. Moreover, this acquisition opens up new avenues for growth and exploration of further acquisitions as part of the Sellier Group.
Sellier’s founder and CEO, Hanushka Toni, highlighted that for Sellier, consolidation in the resale market involves not just becoming larger, but smart-scaling. Toni expressed enthusiasm about the potential that this partnership brings, emphasizing Sellier’s commitment to sustainability.
Bella Buchanan, the CEO of Worn, expressed excitement about the collaboration, stating that both companies share a common mission to provide the best resale experience in the industry. Buchanan believes that this partnership will allow them to take their mission to new heights and achieve greater success together.
Sellier’s acquisition of Worn will undoubtedly strengthen its position in the luxury resale market and propel its growth to become the largest luxury reseller in the UK. With strategic expansion plans in place and a strong commitment to sustainability, Sellier is well-positioned for continued success within the industry.
Useful Links:
– Luxury Resale Platform Sellier Knightsbridge: [link](https://www.sellierknightsbridge.com/)
– Worn Luxury Resale Platform: [link](https://www.wornstorelondon.com/)
