The digital-first resale platform for designer handbags and accessories has announced the launch of Clair Trade, an instant trade-in program allowing customers to buy and sell pieces in one transaction.
The online marketplace is seeking to cement its position as a top destination for shopping luxury products with the introduction of an authentication service for new and pre-owned handbags sold for more than $500.
The American luxury resale platform has teamed up with brands including Jacquemus and Stella McCartney to launch ReCollection, an upcycling project repurposing defective items or dead stock from these labels.
The fashion resale platform raised $168 million with its initial public offering on Thursday, achieving a valuation of around $1.3 billion. Shares began trading at $18.25 on Friday, up 30% from their listing price.