Tradelux General Trading LLC
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Tradelux General Trading LLC - overview
Established
2011
Location
Dubai, -, United Arab Emirates
Primary Industry
Internet
About
Tradelux General Trading LLC operates as an online platform specializing in the sale of authenticated pre-owned luxury fashion items, catering to discerning customers seeking high-end designer brands. Founded in 2011 and headquartered in Dubai, United Arab Emirates, Tradelux General Trading LLC is known for its online retail of luxury fashion items. The company has raised a total of USD 14. 00 mn across several funding rounds, with the latest being a Series D round in June 2021, led by GMP Investments and involving other investors including HB Investments and Middle East Venture Partners.
Kunal Kapoor serves as both the Founder and CEO of the company. The Luxury Closet, by Tradelux General Trading LLC, specializes in the sale of authenticated pre-owned luxury fashion items. It offers a diverse range of products including handbags, apparel, shoes, and accessories from renowned luxury brands. Each item is meticulously authenticated to ensure customers receive genuine products, thereby addressing concerns over counterfeits in the luxury market.
The company's clientele consists of fashion-conscious individuals, affluent consumers, and collectors, mainly in the United States, United Kingdom, and various regions across the Middle East and Asia. The Luxury Closet generates revenue through the direct sale of luxury items to consumers, primarily via a B2C transaction structure. Customers can purchase pre-owned authenticated fashion items directly on the platform. The pricing of each product is based on brand, condition, and market demand.
Additionally, the company may charge commission-based fees for sellers listing their items, creating a dynamic marketplace for luxury goods where both buyers and sellers can engage efficiently. In June 2021, Tradelux General Trading LLC raised USD 14. 00 mn in a Series D funding round, aimed at accelerating growth and expanding its market presence beyond the UAE. The company plans to introduce new luxury fashion items and expand into additional international markets, though specific markets and timelines have not been disclosed.
The recent funding will be leveraged to support these expansion initiatives, enhancing the overall business strategy.
Current Investors
Middle East Venture Partners, Wamda Capital, Arzan Venture Capital
Primary Industry
Internet
Sub Industries
Internet
Website
www.theluxurycloset.com
Verticals
E-commerce, Mobile Apps
Company Stage
Series D
Total Amount Raised
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