FASHIONPHILE Announces Asset Purchase Agreement of Two Authenticators Inc.

The acquisition deal of a Canadian luxury vintage omnichannel retailer will enable FASHIONPHILE to scale its B2B wholesale and omnichannel operations internationally

SAN DIEGO, March 15, 2024 /CNW/ -- FASHIONPHILE, the leading resale e-commerce platform in pre-owned, ultra-luxury accessories, announced today it has purchased the assets of Two Authenticators Inc. ("2a"), a Montreal-based wholesale distributor of authenticated, pre-owned luxury vintage.

Following the acquisition, Fred Mannella, co-founder and CEO of 2a and former co-founder and Chief Development Officer of LXRandCo, Inc. ("LXR"), will assume the role of Senior Vice President of Wholesale at FASHIONPHILE, reporting to Ben Hemminger, co-founder and CEO.

With more than 30 years of combined experience pricing, grading and validating products' authenticity, 2a was founded in 2021 to support luxury vintage retail B2B operations in Canada and the US with more than 20 partners across e-commerce, physical stores, and omnichannel retail.

The transaction follows FASHIONPHILE's brand acquisition of LXR in 2023 and will further optimize FASHIONPHILE's ability to expand its B2B wholesale and omnichannel operations on an international scale.

"We continue to be excited about the opportunity to diversify our omnichannel operations and enter the secondhand wholesale market in the U.S. and internationally," Hemminger said. "By acquiring 2a and adding Fred Mannella to our team as one of the world's leading luxury vintage experts, we are well positioned to enter this new phase of growth as we look to provide trusted, authenticated, branded accessories to all sectors of the growing market for secondhand luxury."

ABOUT FASHIONPHILE
Founded in 1999, FASHIONPHILE was the very first ultra-luxury re-commerce brand of its kind. After 25 years in business, the company has become the country's largest resale platform for buying and selling ultra-luxury, pre-owned accessories including Chanel, Hermès, Gucci and Louis Vuitton. Excelling in digital and omnichannel experiences as well as luxury in-person services, FASHIONPHILE is recognized for its never-ending inventory of the most coveted handbags and accessories, a direct buyout model and best-in-class authentication. Through proprietary, leading-edge technologies and the forging of strategic partnerships, FASHIONPHILE continues to accelerate the luxury lifecycle to a velocity unparalleled to anywhere else in the world. In 2019, FASHIONPHILE became the exclusive re-commerce partner of Neiman Marcus, and to date, has opened 10 FASHIONPHILE Selling Studio locations inside Neiman Marcus stores across the country, with new locations to come. For more information on FASHIONPHILE please visit: www.fashionphile.com and on Instagram @fashionphile.

SOURCE FASHIONPHILE

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