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The Luxury Closet company logo

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theluxurycloset.com

Founded Year

2012

Stage

Series C - III | Alive

Total Raised

$21M

Mosaic Score

+40 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About The Luxury Closet

The Luxury Closet is an online marketplace where users can buy and sell luxury items from luxury brands, at a discounted prices. It works on a consignment model, and does not invest in inventory.

The Luxury Closet Headquarters Location

Novotel Dubai Al Barsha API Trio Tower, Office 901

Dubai,

United Arab Emirates

+971 4 395 5639

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Expert Collections containing The Luxury Closet

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

The Luxury Closet is included in 1 Expert Collection, including E-Commerce.

E

E-Commerce

9,735 items

Latest The Luxury Closet News

The euro is at near parity against the US dollar, what this means for luxury fashion

Jul 13, 2022

Image: The Luxury Closet On the day that the euro announced Croatia would be the 20th country joining the currency, its value slid to near parity with the dollar. While analysts are speculating how low the euro can go, it is the first time in its 20-year history that the dollar is nearly even, with the euro having lost more than 10 percent of its value since the start of 2022. While for European consumers visiting the US or importing goods from the States will become very expensive, the news will not be bad for everyone, especially for the luxury goods sector and those exporting. A boost to the bottom line Exports to the US will be cheaper and the world’s luxury houses, most of which are European, will see a boost on the bottom line, especially those that operate US retail. While most goods are sold at a dollar value that balances fluctuation and is set in advance, prices are rarely adjusted to be cheaper if the currency of origin falls. Travel retail may also see a boost as American spending in Europe will see customers able to buy more goods for their dollar, especially if these goods are cheaper than what they would cost back home. Tax free shopping will also see a boost as buying luxury goods in France and Italy could save American shoppers between 20 and 30 percent on items such as Louis Vuitton and Chanel handbags. Paris haute couture and men’s fashion week saw a surge in American attendees who had not travelled in over two years and US guests of the houses filled up the front rows. As the war in Ukraine threatens to cut off Europe’s gas and energy supplies, the fall of the euro may not have yet hit rock bottom. Ultimately high inflation will not be positive for countries on either side of the Atlantic, but for now luxury companies will see an uptick in the margins of their US exports and local retail.

The Luxury Closet Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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The Luxury Closet Rank

  • When was The Luxury Closet founded?

    The Luxury Closet was founded in 2012.

  • Where is The Luxury Closet's headquarters?

    The Luxury Closet's headquarters is located at Novotel Dubai Al Barsha, Dubai.

  • What is The Luxury Closet's latest funding round?

    The Luxury Closet's latest funding round is Series C - III.

  • How much did The Luxury Closet raise?

    The Luxury Closet raised a total of $21M.

  • Who are the investors of The Luxury Closet?

    Investors of The Luxury Closet include HB Investments, Knuru Capital, Middle East Venture Partners, EQ2 Ventures, Wamda Capital and 9 more.

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