Fashionphile, a Carlsbad, Calif.-based pre-owned e-commerce company focused exclusively on ultra-luxury handbags, watches and fine jewelry, raised $38.5m in Series B funding.
The round, which followed Neiman Marcus’ minority investment in the company in April 2019, was led by NewSpring Growth.
The company intends to use the funds to drive
- operational and geographic scale, further expanding their omnichannel footprint and opening regional fulfillment centers both domestically and abroad, and
- advancement across its suite of proprietary technologies with a focus on enhanced automation and artificial intelligence including patent pending visual recognition technology.
Founded in 1999 and led by CEO Ben Hemminger, Fashionphile is a pre-owned ultra-luxury company featuring handbags and accessories, a direct buyout model, and authentication.