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Reebonz Launches New ‘Sell to Reebonz’ Service to Make Selling as Easy as Buying

Everyone can now sell their luxury goods in exchange for guaranteed spending credits

SINGAPORE, May 17, 2019 (GLOBE NEWSWIRE) -- Reebonz Holding Limited (the “Company” or “Reebonz”; Nasdaq: RBZ), today announced that it has unveiled a new service called “Sell to Reebonz” that gives all luxury consumers an alternative way to sell their pre-owned designer products. While Reebonz users have always been able sell their products through the Company’s platform, the new service essentially eliminates a common frustration among sellers when the selling process or payment period occasionally become drawn-out due to protracted negotiations or buyer interest. “Sell to Reebonz” is a simple, trusted and seamless way for someone to sell their coveted luxury product, and help provide a sustainable way to transfer ownership.   

With a constantly growing list that currently includes over 30,000 designer items, consumers can browse the Sell Catalog (https://www.reebonz.com/sg/sell), match their item, and swiftly exchange it for spending credits that can be used for their next purchase on Reebonz.com. Customers can receive credits within 24 hours based on the guaranteed price shown on the Sell Catalog, subject to final condition of the item. The service is currently being tested in Singapore, and is expected to be rolled out to new markets in the future.

Samuel Lim, CEO of Reebonz, commented, “The luxury resale market will continue to evolve with the rise of mindful consumerism. With this launch, we aim to provide all shoppers with a more transparent and flexible option to sell their products. It not only gives them a faster ability to buy and sell the products they love, but also promotes greater sustainability without compromising on quality and the overall shopping experience. Selling can truly be as easy as buying if we allow it to. Our mission from the start has been to make luxury accessible to everyone by building a trusted ecosystem that seamlessly connects buyers and sellers. We are constantly working to enhance the efficiency of our existing capabilities and develop innovative new value-added services that deliver an uncompromising experience to our members.”

/EIN News/ -- About Reebonz
Headquartered in Singapore and founded in 2009, Reebonz (pronounced “ribbons”) is the trusted online marketplace and platform for buying and selling new and pre-owned luxury products in the Asia Pacific region. Leveraging data and technology, Reebonz makes luxury accessible by operating as an eco-system of B2C e-tail and B2C marketplace for over 1,000 brands and 172 boutiques, supported by C2C marketplaces that enable individuals to sell through its platform.  With an easy shopping experience, members can enjoy convenient access to the selection of products that Reebonz sources as well as from a curated collection of multi-brand luxury boutiques from all around the world.

Forward-Looking and Cautionary Statements
Certain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Reebonz’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the ability to maintain NASDAQ’s continued listing standards; Reebonz’s ability to manage growth; the reaction of Reebonz customers and suppliers to its business combination; rising costs adversely affecting Reebonz’s profitability; potential litigation involving Reebonz’s intellectual property; and general economic and market conditions impacting demand for Reebonz’s products. See the risk factors disclosed in Reebonz’s most recently filed prospectus, filed with the SEC on April 17, 2019 for additional risks. Reebonz does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
 
For investor and media inquiries, please contact:
Reebonz Holding Limited | ir@reebonz.com
Christensen | Tip Fleming | tfleming@ChristensenIR.com | Contact:  +1 917 412 3333

For more information on Reebonz, please visit www.reebonz.com

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Distribution channels: Consumer Goods


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