Auction company 

AUCNET expands its second-hand luxury goods business by opening overseas branches in Europe and the United States

TOKYO, November 15, 2022 /PRNewswire/ — AUCNET INC. (hereinafter “AUCNET”), a Tokyoonline auction company, will expand its subsidiary – AUCNET CONSUMER PRODUCTS INC. (hereinafter “ACP”) – globally, by opening two new international branches, one in Copenhagen, Denmarkand the other in Los Angeles, California, in the United States, from November. Each branch represents respectively the presence of ACP in Europe and North America. The European branch will be led by COO Masaaki Furukawa, and the American branch by COO Ayako Yamazaki, with Yasuto Saito remaining CEO of both branches. By developing its physical activity in Europe and North AmericaACP hopes to find more suppliers of second-hand luxury goods, which its buyers can easily purchase.

This expansion coincides with the growth of the global resale market which, for clothing, including luxury branded items, was valued at approximately €35.4 billion* in 2021 and is expected to exceed €83.7 billion* by 2026 (*1). While this resale industry contains products that offer profitable earnings globally, these items are often supplied by individuals who choose to consign them. Getting these items with a steady stream, while an essential part of the process, continues to be an uphill battle.

To help combat the supply problem, AUCNET established its subsidiary ACP in 2015. Based in Tokyo and led by the President and CEO Yasuto Saito, it currently has more than 3,400 users worldwide. ACP hosts an auction of luxury brands – selling over 657,000 items a year – and is praised for being one of the top B2B used luxury auctions in Japanwith an annual Gross Goods Value (GVV) of more than 222 million euros**.

By increasing the number of buyers in the target areas and continuing to acquire more sellers, ACP plans to further expand its overseas growth and create circular distribution of its products around the world.

References:

(*1) thredUP “2022 Fashion Resale Market and Trend Report”
https://www.thredup.com/resale/

*All USD to EUR conversions are based on the following rate: $1 = €1.01 (from November 2, 2022).

**JPY to EUR conversion based on the following rate: 145 JPY = 1€ (as of November 2, 2022).

A message from the President and Chief Operating Officer of AUCNET INC., Shinichiro Fujisaki

Photo:
https://kyodonewsprwire.jp/prwfile/release/M105709/202211109598/_prw_PI1fl_892ARNAG.jpg

“At AUCNET, we are pleased to announce the creation of our two new overseas entities with the aim of a global B2B distribution service in the second-hand luxury market. We currently have more than 3,400 users worldwide, and our overseas buyers are specifically increasing their presence year on year Considering Europe as one of the largest reuse markets in the world with still room for growth, we have chosen Denmark for our new entity. We want to deepen our understanding of the European market and improve our customer service for our European customers. We will focus on expanding our network of buyers in all areas of Europe as a first step. As a next step, we are planning an even wider expansion of our overseas customer network by acquiring salespeople in Europe. Our future goal is to develop a one-of-a-kind global B2B marketplace, stemming from Japan. Denmark, where we founded one of our new legal entities, ranks every year in the top 3 countries with the highest level of achievement of the SDGs (*2). With the new establishment of Denmarka leading country in participating in the SDGs, we at AUCNET will strive to contribute to sustainability with even more partners, using the location to get insights and insights directly from this new developing field to to create a society where all valuables can be distributed globally.”

(*2) For ranking details, please see “Sustainability Report 2022”: https://dashboards.sdgindex.org/

– European entity
Company name: AUCNET EUROPE APS
Address: Gothersgade 11, 1123, Koebenhavn K
Representatives: CEO Yasuto Saitochief operating officer Masaaki Furukawa

– North American entity
Company name: AUCNET CONSUMER PRODUCTS UNITED STATESLLC
Address: 222 Pacific Coast Highway El Segundo (23rd floor), CA 90245, UNITED STATES
Representatives: CEO Yasuto Saitochief operating officer Ayako Yamazaki

– Presentation of AUCNET CONSUMER PRODUCTS INC.
Company name: AUCNET CONSUMER PRODUCTS INC.
Headquarters: Aoyama OM Square, Kita-Aoyama 2-chome 5-8, Minato-ku, Tokyo 107-8349, Japan
Representative: President and CEO Yasuto Saito
Creation date: January 5, 2015
Capital: 30 million yen (from December 31, 2021)
Business Description: Operation of second-hand luxury brand auctions

– Presentation of AUCNET INC.
Company name: AUCNET INC.
Headquarters: Aoyama OM Square, Kita-Aoyama 2-chome 5-8, Minato-ku, Tokyo 107-8349, Japan
Representatives: Chairman and CEO Kiyotaka FujisakiPresident & COO Shinichiro Fujisaki
Creation date: June 29, 1985
Capital: 1,806 million yen (from December 31, 2021)
Consolidated turnover: 36,710 million yen (for the year 2021)
Number of employees (consolidated): 858 (at December 31, 2021)
Business Description: Information dissemination support services business, including the organization and operation of online auctions
Listing: Tokyo Stock Exchange Prime Market (stock code: 3964)
URL: https://www.aucnet.co.jp/en/

SOURCE AUCNET INC.

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