Reebonz Announces Launch of Store on Ebay

Thursday, 08. August 2019 15:00

SINGAPORE, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Reebonz Holding Limited (the “Company” or “Reebonz”; Nasdaq: RBZ), a leading online luxury marketplace and platform in Asia Pacific, announced today that it has recently launched a store on eBay.

Reebonz launched its new store, https://www.ebay.com/str/reebonzus, with over 5,000 new and pre-owned products, including bags, shoes, accessories, and apparel. Customers from the U.S., Canada, Mexico, United Kingdom, Australia, and the European Union can purchase products, and receive free shipping, from the store. The listings are localized for currency and language in their respective countries, which is a key value proposition of Reebonz. The Company has built back-end infrastructure to localize services in each country it operates to make it easy for customers to shop. To date, Reebonz has sold products from brands such as Burberry, Fendi, and Prada through its eBay store, amongst others, and the highest valued item sold has been a pre-owned Hermes handbag worth over $15,000.

Benjamin Han, Co-founder and Chief Marketing Officer of Reebonz, commented, “We are extremely excited to launch our store on eBay. While we continue to focus primarily on Asia, it is very encouraging to be able to partner with eBay to provide a unique collection of products to their users, and expand our customer base globally. They are focused on providing authentic luxury products, which complements well with our core business. Expansion into regions such as North America and other non-Asian regions will allow us to better understand user buying preferences in other parts of the world, which will allow us to create a robust database of trends globally. Insights from this data will help in a many ways, including driving our pricing and margin optimization strategy, merchandising, and others. We look forward to an exciting partnership!”

Forward-Looking and Cautionary Statements
Certain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Reebonz’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the ability to maintain NASDAQ’s continued listing standards; Reebonz’s ability to manage growth; the reaction of Reebonz customers and suppliers to its business combination; rising costs adversely affecting Reebonz’s profitability; potential litigation involving Reebonz’s intellectual property; and general economic and market conditions impacting demand for Reebonz’s products. See the risk factors disclosed in Reebonz’s most recently filed prospectus, filed with the SEC on April 17, 2019 for additional risks. Reebonz does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Reebonz:

Headquartered in Singapore, Reebonz is the trusted online platform for buying and selling a wide range of luxury products. Reebonz makes luxury accessible by giving our members more from the world of luxury through Reebonz.com and Reebonz Closets app—a standalone C2C platform that allows customers to buy and sell their pre-owned items to a community of over 5.5 million members. With an easy shopping experience, members can enjoy convenient access to new and pre-owned luxuries curated from all around the world. Reebonz has offices located in Australia, Hong Kong, Indonesia, Malaysia, South Korea, Thailand, and Taiwan.

For investor and media inquiries, please contact:
Reebonz Holding Limited | ir@reebonz.com
Christensen | Tip Fleming | tfleming@ChristensenIR.com | Contact: +1 917 412 3333

For more information on Reebonz, please visit www.reebonz.com

Stay connected with us at:
Facebook: @ReebonzSG | Instagram: @ReebonzOfficial

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