Middle East Startup for Your Unwanted Cartier Gets New Funds
- Luxury Closet offers $52,660 ostrich leather Hermes handbags
- Website raises $8.7 million to expand global reach, users
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The Luxury Closet, a website for buying and selling secondhand luxury goods, has received fresh backing from a group of Middle Eastern venture capital investors as it seeks to expand beyond the region.
The Dubai-based site has a 20,000-product catalog ranging from 45,130-euro ($52,660) ostrich leather Hermes handbags and Cartier wristwatches priced at 14,726 euros to pink Gucci blouses for 465 euros. The company aims to use the funding to increase buyers and sellers on its platform.