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AUCNET Opens Foreign Locations in United States and Europe to Broaden Its Pre-owned Luxury Goods Bus

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#preowned #auction #luxury #resalemarket
Published
01/04/2023 by

AUCNET INC. (hereinafter "AUCNET"), an online auction company headquartered in Tokyo, will be expanding its subsidiary -- AUCNET CONSUMER PRODUCTS INC. (hereinafter "ACP") -- globally, opening up two new international branches, one in Los Angeles, California, the United States, and the other in Copenhagen, Denmark, starting this November. Each branch respectively represents ACP's presence in North America and Europe. The U.S. branch will be run by COO Ayako Yamazaki, and the European branch by COO Masaaki Furukawa, with Yasuto Saito remaining as CEO of both branches. By expanding its physical business into North America and Europe, ACP hopes to secure more suppliers of second-hand luxury goods, which its buyers can purchase with ease.

The expansion coincides with the growth of the global resale market, which, for clothing, including luxury brand-name items, was valued at about 35 billion USD in 2021 and which is expected to exceed 82 billion USD by 2026 (*). While this resale industry contains products that offer profitable gains globally, these items are often supplied by individuals who choose to consign. Obtaining these items with a stable flow, while an essential part of the process, continues to be an uphill battle.

To help combat the supply issue, AUCNET founded its subsidiary ACP in 2015. Based in Tokyo and run by President and CEO Yasuto Saito, it currently has over 3,400 users worldwide. ACP conducts a luxury brand auction -- selling over 657,000 items yearly -- and is praised for being one of the top B2B second-hand luxury auctions in Japan, with a yearly Gross Merchandise Value (GMV) of over 219 million USD*.

By increasing the number of buyers in the target areas and following up with acquisition of more sellers, ACP plans to further expand its growth abroad and create circular distribution of its products worldwide.

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