With its major purchasing power, the GCC has had a long-standing relationship with luxury fashion. But when it comes to designer vintage, the market hasn’t always been accessible. However, as co-investors of The Luxury Closet – a platform dedicated to unearthing and selling the rarest luxury designer goods – the game is changing.
Originally launching in 2012, the platform has grown to become one of the region’s biggest luxury resale platforms. Whether its 90s Dior or Versace, The Luxury Closet has everything you’re looking for, at a fraction of the price. And now, with the Kattan sisters’ involvement, it’s bound to grow even bigger.
The platform just scored an $11 million investment from Huda Beauty Investments, the private investment company ran by Huda, Mona and Alya Kattan. The move makes the Kattan sisters one of the company’s principal shareholders. Mona and Huda Kattan also snagged seats on the company’s board.
“I have always been an advocate of circular fashion, and I am very excited about our endeavours with The Luxury Closet. At the beginning of our entrepreneurial journey, we did not have the means to purchase fashion luxury items and thus opted for vintage and second-hand shops,” said Mona Kattan in a statement.