Labell-D, a tech start-up, has launched a new platform that looks to help consumers protect the value of their luxury products through validated pricing. The platform, called the ‘Luxury Asset Exchange’, is powered by Web3 software engine Digital Label and merges the first and second-hand markets to ultimately turn products into assets.

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The platform has already been joined by 35 brands, including Gucci and Burberry. Julia Vendramin, CEO and co-founder of Labell-D, said the platform was created in response to the rising demand for sustainable consumption options.

She said, “Brands lose touch with their products the moment they leave the store. Labell-D closes the loop: authenticating a product’s ownership history, providing brands with loyalty and royalties on each trade.”

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Vendramin added that the platform was the first step for the UK-based company, with advances in technology allowing for it to push towards a “truly economy”. The platform has been funded by Sephora’s global chief information officer Gianni Leone, former MatchesFashion and Zalando head Anaheta Berenberg-Consbruch and Simon Gresham Jones, former chief digital officer at Condé Nast.

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Labell-D, a tech start-up based in the UK, has launched a new platform called the ‘Luxury Asset Exchange’ that looks to help consumers protect the value of their luxury products through validated pricing. The platform is powered by Web3 software engine Digital Label and merges the first and second-hand markets to ultimately turn products into assets.

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The platform has already been joined by 35 brands, including Gucci and Burberry. Julia Vendramin, CEO and co-founder of Labell-D, said the platform was created in response to the rising demand for sustainable consumption options.

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Sources: https://cpp-luxury.com/burberry-and-gucci-join-start-up-platform-aimed-at-smarter-consumption-more-circular-and-climate-friendly/