Carousell buys Refash, S'pore-based secondhand fashion retailer

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Lean Jinghui | May 12, 2022, 12:30 PM

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Carousell Group has signed a deal to acquire Refash, a Singapore-based fashion recommerce retailer.

Via Carousell

Recommerce, or reverse commerce, is the business of selling used or secondhand products.

To make selling secondhand easier

According to a May 9 press release, Carousell announced that the move was meant to make decluttering one's wardrobe and selling secondhand easier.

According to the e-commerce platform, one of the top concerns from its community was that users have "no time to sell".

Partnering with Refash will thus enable Carousell to make selling secondhand clothes "even simpler" for one of the biggest verticals on the platform – fashion.

Carousell also hopes that the move will "power the future of sustainable and circular fashion".

Quek Siu Rui, co-founder and CEO of Carousell, shared about the acquisition:

"We see immense opportunity in teaming up to make selling even simpler for anyone time-starved who has underused clothes in their wardrobes."

More on Refash and Carousell

Carousell is an online classifieds marketplace specialising in pre-loved goods.

It was set up in Singapore in 2012, and is now present in eight markets, including Hong Kong, Malaysia, Taiwan, Indonesia and Vietnam.

It is also one of Singapore's unicorns, with a valuation of US$1.1 billion (S$1.53 billion).

Refash describes itself as Singapore's "largest online and offline secondhand shopping destination", with 10 physical thrift stores islandwide.

It has processed over five million pieces of clothing, and resold "preloved clothing" from over 305 international and local fashion labels like Zalora and Zara.

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Top images via Carousell and Refash Facebook