Luxury Asset Exchange unveils tech to protect the value of fashion products
LABELL-D is unveiling its Luxury Asset Exchange creating a new technology and market by reframing retail for smarter consumption which is more circular and climate friendly.
The platform is powered by a Digital Label – a software engine which connects the first and second-hand markets, turning products from commodities into assets. It seamlessly connects customers to brands and retailers, crystallising purchases as wearable liquid assets.
Gucci and Burberry are among the 35 brands which are already on the platform, which also has 75,000 active users.
Julia Vendramin, CEO and Co-Founder of LABELL-D, said: “Our platform benefits consumers, brands, retailers – and the environment. The next generation rightly demand a more sustainable way to consume. 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.”
Some 75% of LABELL-D’s active users are Gen Z / Millennials indicating a generational shift in mindset and behaviour change. At the same time, 85% of fashion products are forgotten in wardrobes or discarded in landfill.
The platform guarantees asset liquidity through validated pricing. This means that for the first time, consumers know the true value of their luxury items and brands are rewarded for their original creativity.
Vendramin added: “The Luxury Asset Exchange is a scalable platform in the luxury market with fashion as the first step. The fashion sector is ripe for disruption – advances in technology such as blockchain allow us to create a truly circular economy. Our Digital Label is Web 3.0 generated – it tracks, traces, authenticates and allows customers and brands to trade. It is endlessly scalable.
LABELL-D is headquartered in the UK, its CEO Julia Vendramin has significant industry expertise having worked for Hugo Boss, Burberry and Smythson. The company is seed funded by Angel Investors and is looking to scale its technology and operations in the coming years.
Funders include: Gianni Leone (Global Chief Information Officer, SEPHORA), Sian Sutherland (serial entrepreneur and co-founder of A Plastic Planet), Anaheta v. Berenberg-Consbruch (formerly of MatchesFashion and Zalando), and, Simon Gresham Jones (former Chief Digital Officer, Condé Nast, and before that, Burberry).
