Reebonz

Last updated
Reebonz
Company type Private
Industry E-commerce
FoundedMarch 2009;16 years ago (2009-03)
FoundersSamuel Lim, Daniel Lim, Benjamin Han
Headquarters Singapore
Website http://www.reebonz.com

Reebonz was an online platform for buying and selling luxury products. Members could shop for new and used luxury merchandise. [1] [2]

Contents

Reebonz targeted customers in the Asia-Pacific region. It is established in Southeast Asia, operating in eight countries including Singapore, Malaysia, Indonesia, Taiwan, Hong Kong, Thailand, Australia, and South Korea. [1] [3]

History

Samuel Lim, Daniel Lim, and Benjamin Han co-founded Reebonz in March 2009. [3] [4] Prior to Reebonz, Samuel Lim founded South East Asia’s Fusion Mobile, in his first year of university in 2000. In 2004, he founded another line of business under eFusion Solutions Pte Ltd called Fusion Direct. Benjamin Han and Daniel Lim started in e-commerce with the launch of Zuunbo.com in 2007. Zunnbo.com was awarded seed funding by the Singapore Management University (SMU) Business Innovation Generator, which manages the Entrepreneurial Talent Development Fund together with SPRING Singapore for investing in promising business proposals. [2]

In August 2021, Daniel Lim left the company. [5]

In September 2021, Samuel Lim alerted creditors that Reebonz is "in creditors' voluntary liquidation". Lim explained in the notice that Reebonz "cannot by reason of its liabilities continue its business". [6]

In December 2021, it was announced that LiveCommerceEntertainment (LCE) had acquired Reebonz.com brand assets. LCE relaunched the website as ReebonzLIVE!. [7]

Products and services

Sell and Consign

In April 2014, Reebonz.com merged with Reebonz Vintage to sell used designer items. [8]

Closets

Launched in January 2015, Closets was the mobile selling platform in the Reebonz app that sold used designer items, and it had a live chat function.

Marketplace

In May 2015, Marketplace was launched as a global portal for merchants to list rare luxury fashion items for Reebonz members.

White Glove

White Glove was a concierge service where Reebonz helped members sell their pre-owned designer items.

Reebonz Atelier

Provided services such as authentication, valuation, restoring, and repairing.

Mobile applications

Reebonz launched its mobile application for iPhone and iPad in 2010, and later for Android in July 2012. [9] [10]

Reebonz SPACE

In September 2011, Reebonz launched its "retail lounge", Reebonz SPACE. [8] [11] [12] [13]

Reebonz Mobil

In May 2011, Reebonz launched Reebonz Mobil, a 40-foot-long mobile truck version of its online flash sales concept. [14]

Awards and recognition

2012

NTV7 MY’s The Breakfast Show featured Reebonz. [8]

Cosmopolitan SG awarded the 2012 Cosmo Webby Award for Best Site for Luxury Handbags to Reebonz.

2013

In early 2013, Singapore's media giant, MediaCorp, signed on as lead investor in a round of fund-raising by Reebonz. The round raised a total of S$50 million from MediaCorp and existing shareholders. This brings Reebonz's market valuation to cross the $250M mark. This is the first time MediaCorp has invested in an online retail firm. [15] [16] [17] [18]

2014

Reebonz was featured in Luxe Asia of Channel NewsAsia

References

  1. 1 2 "A year of new frontiers". Malaysia Chronicle. Retrieved January 31, 2013.
  2. 1 2 "Accessible Luxury". The Edge. Archived from the original on November 26, 2013. Retrieved November 26, 2013.
  3. 1 2 "Samuel Lim". EO Asia. Retrieved February 7, 2013.
  4. ↑ Stockdill, Robert. "Luxury shopping on wheels". Inside Retail. Archived from the original on April 6, 2013. Retrieved February 7, 2013.
  5. ↑ Teng, Angela (2021-09-13). "Prada to nada: How multi-million Reebonz racked up S$65M in debt and facing liquidation". Vulcan Post. Retrieved 2025-07-02.
  6. ↑ "Reebonz files voluntary liquidation, reportedly caved under liabilities worth SG$65m".
  7. ↑ Salim, Zafirah (2022-02-10). "Why Reebonz's new owners pivoted to a "live shopping entertainment" model to sell luxury goods". Vulcan Post. Retrieved 2025-07-02.
  8. 1 2 3 "Reebonz Unveil the Surprise" (PDF). InDesign Live Asia. Retrieved February 7, 2013.[ permanent dead link ]
  9. ↑ "REEBONZ for iPhone". Archived from the original on July 6, 2010. Retrieved February 7, 2013.
  10. ↑ "New apps: ILoveDeals, mVoucher, REEBONZ, Foound, My Movies, and much more". iMerlion. Archived from the original on December 3, 2013. Retrieved February 7, 2013.
  11. ↑ "Reebonz Flagship Store". 17 February 2012. Retrieved February 7, 2013.
  12. ↑ "Reebonz opens its own private space for members". Archived from the original on June 20, 2012. Retrieved February 7, 2013.
  13. ↑ "Reebonz Unveils Private Members' Lounge". Archived from the original on December 2, 2013. Retrieved November 26, 2013.
  14. ↑ Murugappan, Ravathi. "Luxury boutique in a 40-foot truck". The Star. Archived from the original on September 4, 2011. Retrieved February 7, 2013.
  15. ↑ "Singapore-based luxury shopping site Reebonz nabs $40 million investment led by MediaCorp". The Next Web. 20 May 2013. Retrieved November 26, 2013.
  16. ↑ "MediaCorp Invests US$40 Million in Reebonz, Values the Luxury E-Store at US$200 Million". Yahoo Finance. Retrieved November 26, 2013.
  17. ↑ "MediaCorp Invests in Singapore luxury online retailer, Reebonz". MediaCorp. Archived from the original on December 3, 2013. Retrieved November 26, 2013.
  18. ↑ "MediaCorp invests in luxury online retailer Reebonz". The Malaysian Insider. Archived from the original on December 2, 2013. Retrieved November 26, 2013.
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