eBay Invests in Luxury Resale Platform Cudoni — Retail Bum

eBay has made a £7.5 million (approx. $9.25 million) investment in luxury resale platform Cudoni, bringing its total raise to £14.3 million.

“It is an outstanding vote of confidence in the brand and our ambitions to receive investment from re-commerce pioneer eBay,” said James Harford-Tyrer, Cudoni’s founder and CEO.

Cudoni’s platform sells pre-pwned luxury apparel, jewelry, and watches. Items are picked up from sellers’ homes, evaluated and listed, and then sold online for a commission. Since the end of 2020, sales on the resale platform have increased sevenfold, creating the need for added sales and marketing support, which Cudoni aims to fund through its latest investment round.

“The marketplace brings something new and exciting to online retail, with the Cudoni credentials at its heart — VIP service throughout, premium product offering and ease and convenience,” said Harford-Tyrer in a 2018 press release announcing the launch of the marketplace.

The move to invest in Cudoni is part of eBay’s efforts to solidify its position as a second-hand luxury goods resale leader.

In June 2021, eBay launched an authentication service for luxury handbags, and a year later, it expanded its authenticity guarantee service to the U.K.