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Asos-backed luxury resale website Covetique closes

Asos-backed pre-owned luxury etailer Covetique has closed after three and a half years.

Asos took a 30% stake in the business, which sells second-hand luxury goods from brands including Chanel and Gucci, in 2012 in a multimillion-pound deal.

Covetique posted on its website: “It is with extreme sadness and heavy hearts that we have now closed our doors.

“Over the past 3.5 years Covetique has helped you sell and buy your luxury wardrobes and in that time grew to become the leader in the UK for luxury resell.

“Your support and custom was invaluable in achieving this.

“However, continuing to provide the top quality level of service that customers rightly demand involved a level of investment that became unsustainable.”

@Tara_Hounslea

Readers' comments (1)

  • In other words. It was never profitable.

    Unsuitable or offensive? Report this comment

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