FASHIONPHILE REPORTS 2024 PROFITABILITY RESULTS
Fashionphile, the largest resale platform for buying and selling ultra-luxury, preowned accessories, had its most profitable year to date in 2024 with a 67 percent increase in profits. This milestone reflects the company’s transformational journey from a primarily digital-first business to a fully omnichannel luxury leader, in effect shaping the resale experience.
The in-store experience and the launch of a groundbreaking wholesale division contributed much to the retailer’s growth. These achievements highlight Fashionphile’s commitment to blending digital convenience with immersive, high-touch, in-person experiences. The retailer will soon open a permanent location at Fashion Island in Newport Beach, CA, with projected locations in Dallas, San Francisco, Atlanta, Boca Raton, and Philadelphia in 2025.
Wholesale operations were another defining element of Fashionphile’s success in 2024, contributing to overall profitability and expanding the company’s international footprint to Denmark, Germany, Canada and Australia. This came about through strategic partnership with legacy multi-brand retailers such as Galleria in Germany.
As the reatiler looks ahead, it is intensifying its efforts to deepen relationships and expand grow within the US, Europe and the Middle East.