Tech start-up Labell-D has launched a new platform that looks to help consumers protect the value of their luxury products through validated pricing.
Powered by Web3 software engine Digital Label, the ‘Luxury Asset Exchange’ hopes to offer consumers a way to reframe retail for smarter consumption, which Labell-D says is more circular and climate-friendly.
It incorporates Digital Label’s technology, merging the first and second-hand markets to ultimately turn products into assets.
Gucci and Burberry are among the 35 brands that have already joined the newly launched platform, which CEO and co-founder Julia Vendramin said came as a response to the rising demand for sustainable consumption options.
Vendramin, who has previously worked for Hugo Boss and Burberry, continued: “Brands lose touch with their products the moment they leave the store. Labell-D closes the loop: authenticating a product’s ownership history, providing brands with loyalty and royalties on each trade.”
She added that the “scalable platform” was the first step for the UK-based company, with advances in technology allowing for it to push towards a “truly circular economy”.
Among the platform’s funders are Sephora’s global chief information officer Gianni Leone, former MatchesFashion and Zalando head Anaheta Berenberg-Consbruch and Simon Gresham Jones, former chief digital officer at Condé Nast.