Luxe Collective suffered a significant theft over the weekend.
- Thieves exploited a security blindspot, seizing £500k worth of goods.
- This incident affected 50% of the platform’s merchandise.
- Victims have been informed, and the investigation is ongoing.
- This event underscores the importance of comprehensive security measures.
Over the weekend, Luxe Collective, a prominent player in the luxury fashion resale market, experienced a substantial loss when thieves successfully executed a meticulously planned robbery. The perpetrators took advantage of a security blindspot in the warehouse system, resulting in the theft of pre-owned luxury products worth an estimated £500,000.
The co-founder and CEO of Luxe Collective, Ben Gallagher, confirmed the unfortunate incident on LinkedIn, highlighting the heavy financial impact on the company’s inventory. Gallagher described the theft as a significant hit, with the stolen merchandise aligning to approximately 50% of the company’s total stock. “Never, do you ever think it’s going to happen to you, until it does,” he expressed candidly, reflecting the shock of the event.
In response, Luxe Collective has communicated with stakeholders and affected customers, ensuring they are informed of the situation and any potential implications. The warehouse was equipped with multiple security features including cameras, alarms, and sensors; however, these measures proved insufficient in this instance due to the identified blindspot which the thieves exploited.
Founded in 2018 in Liverpool by Ben Gallagher and his brother Joe, Luxe Collective had recently garnered attention following a significant investment from Steven Bartlett, a well-known entrepreneur and host of the Diary of a CEO podcast. This £100,000 investment, secured during their appearance on BBC One’s Dragon’s Den, was pivotal in amplifying their business outreach and brand recognition.
The timing of the theft is particularly challenging given Luxe Collective’s recent partnership with TikTok Shop to establish a second-hand luxury fashion sector on the platform. This collaboration places them amongst other luxury resale platforms, aiming to attract a broader audience eager for sustainable fashion solutions.
This incident serves as a critical reminder of the necessity for robust and adaptive security measures in safeguarding valuable assets within the retail sector.
