# Luxury Promise

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/luxury-promise

- Industry: Consumer Products
- Headquarters: London, UK
- Website: www.luxurypromise.com
- Total disclosed funding: $3.7M
- Latest round: Series A (Apr 3, 2020)
- Investors on record: 1

## About

Luxury Promise Ltd. is an online platform specializing in the sale and resale of pre-owned luxury handbags and accessories, focusing on sustainability and consumer engagement through interactive live shopping events.Founded in 2017 and headquartered in London, UK, Luxury Promise Ltd. is dedicated to creating a marketplace for pre-owned luxury fashion. The company has raised GBP 8.20 million in funding, with its latest round in December 2021 led by Beringea Private Equity. The founders are Adam Sadiq and Sabrina Sadiq, with Sabrina also serving as the current CEO. Luxury Promise has completed a total of 4 deals, with a current valuation of GBP 67.863 million.Luxury Promise specializes in the sale and resale of pre-owned luxury handbags and accessories from brands such as Hermès, Chanel, and Louis Vuitton. The company enhances the shopping experience through live shopping events that allow customers to engage in real-time with products and ask questions during broadcasts from cities like London, New York, Dubai, and Singapore. This offering supports a broad market of eco-conscious consumers seeking to buy, sell, or swap designer items.In 2023, Luxury Promise generated revenue of GBP 27,182,594.90 and reported an EBITDA of GBP -4,744,555.20. Revenue is primarily derived from direct sales of high-value pre-owned luxury items through both live shopping events and curated online drops, with a focus on limited-edition handbags and exclusive jewelry.Following the GBP 8.20 million funding raised in December 2021, Luxury Promise plans to expand its live shopping platform into additional countries, enhancing its global presence. This initiative aims to reach consumers in new international markets, thereby increasing engagement and sales opportunities for the company. The funding will facilitate the expansion of their platform and the introduction of new products into the market.

## Funding rounds

- Series A, Apr 3, 2020, $3.7M — Beringea

## Investors

- Beringea (https://capitalatlas.ai/funds/beringea) — Series A