The peer-to-peer marketplace will now offer the more convenient option of selling pre-owned luxury clothing on sellers’ behalf.
The resale platform saw revenue drop 10 percent in the fourth quarter of 2023, but met its profitability benchmark by prioritising consignment margins.
The Hewi partnership marks the first time shoppers in the UK, Germany, Spain and Italy can purchase resale on the e-commerce website.
The multi-brand chain launched in 2018 as a solution for digital brands too small to commit to wholesale or traditional retail leases.
The retailer has named Eric Chan as its new chief business and strategy officer and Amy Thompson as chief people officer.
The restructuring will allow the company to direct more resources toward growth, CEO Jennifer Hyman said.
With the acquisition of LXRandCo., a Canadian provider of pre-owned luxury handbags, Fashionphile is eyeing its next stage of growth as a B2B resale distributor.
The luxury resale platform’s stock soared 30 percent on Wednesday.