Luxepolis raises seed fund to add more categories

Online marketplace Luxepolis plans to raise Rs 6.6 crores as seed fund. The Mumbai-based company which sells apparel, fashion accessories, watches and jewelry from premium brands, as well as luxury automobiles, will be utilising the fund to expand its product categories. Luxepolis will add branded furniture, electronics and children’s fashion to its existing portfolio. It is expanding its inventory to over 10,000 SKUs in the next three months.

The company has over 5,000 SKUs of vintage and new luxury products from top global brands such as Louis Vuitton, Hermes, Fendi, Chanel, Christian Dior, Gucci, Furla, DKNY, Michael Kors, Burberry, Coach and others. As for luxury automobiles, Luxépolis offers new and pre-owned Maserati, BMW, Mercedes Benz and Audi cars. Luxepolis currently offers 70 per cent discount on most products. A sizeable number of its clients are from Tier II cities.

Darvey’s is another player in this niche segment where luxury boutiques sell their products at the same price at which they sell in New York, London or Milan. Bangalore-based Zapyle, which also lets users buy and sell pre-owned premium and luxury fashion brands on the platform, recently raised a million dollars from angel investors. Elanic, Stylish Play, Share Wardrobe and Etashee are among the other portals for pre-owned apparel in India.