Luxury Garage Sale Raises $1.5m, Expands to Dallas
Lead Investors Include Chicago Ventures, Brian Spaly of Trunk Club, Paul Lee, and Lon Chow of Apex Venture Partners
2/17/15 – Chicago – Chicago-based fashion startup Luxury Garage Sale has raised $1.5 million in Series Seed funding led by Chicago Ventures and prominent angels including Brian Spaly & Elle Bruno of Trunk Club, Paul Lee, and Lon Chow of Apex Venture Partners.
The investment will enable Luxury Garage Sale to expand operations in Chicago and accelerate expansion to other markets, starting with Dallas, where it plans to launch in the spring. The rapidly growing company’s expansion into this new market is the first step in a targeted city expansion to widen and redefine the scope of their omni-channel business.
“Founders Brielle and Lindsay have proven that there’s a big need for Luxury Garage Sale’s unique, hands-on experience for luxury consignment buyers and sellers,” said Kevin Willer, Partner at Chicago Ventures. “We’re excited about the large market opportunity as they scale their native e-commerce presence and into new cities to address that need, using the successful model they’ve built.”
Luxury Garage Sale was founded in 2010 in Chicago to provide a curated and luxe buying and selling option in the $16 billion women’s fashion resale market. By offering an all-around white-glove service and luxury brand experience to both buyers and consignors, this boutique experience also offers customers the strong brand affinity required to move product quickly and competitively. The luxury consigning and shopping experience is available across four different platforms, including a retail boutique, website (luxurygaragesale.com), eBay store, and pop-up shops around the country.
Co-Founder Lindsay Segal differentiates their offering from other resale experiences: “Luxury Garage Sale is building the preeminent resale brand through our curated, exclusive, high fashion shopping experience. We are not a marketplace. We are not a resale shop. We are a luxury brand.”
The company is also thrilled to announce the addition of Brian Spaly, CEO of Trunk Club, to their board of directors. An experienced fashion entrepreneur, Brian has led two venture-backed fashion startups, most recently selling Trunk Club to Nordstrom for $350 million. Brian Spaly elaborates on Luxury Garage Sale’s upscale differentiation: “Options are plentiful when shopping for luxury products. However, the sharing and resale economy neglects the luxe experience traditionally associated with designer shopping. Luxury Garage Sale stands for this experience. It is what makes their partners – both consigners and buyers – so loyal to their brand and offering. I look forward to supporting LGS as they expand their brand nationally.”
About Luxury Garage Sale
Luxury Garage Sale is Chicagoland’s preeminent designer consignment business selling new and gently-used designer brand and vintage wardrobe items both online and in-store. The white-glove full-service offers consignors no upfront fees, anonymity, and up to 65% of the selling price of any item. Buyers can expect fully authenticated, curated offerings across multiple platforms.