Carousell Group acquires LuxLexicon to boost luxury segment

The group’s luxury bag category listings have grown monthly by 71% in the past two years.

Carousell Group has acquired LuxLexicon, a luxury bag reseller and authenticated luxury consignment platform.

The acquisition will advance the growth of luxury, one of Carousell's largest categories, with an omnichannel strategy and increased offerings for premium luxury.

Carousell will utilise LuxLexicon’s business and assets to enhance its portfolio.

The acquisition also enables LuxLexicon to use Carousell’s experience in online re-commerce and the opportunity for overseas expansion.

The luxury bag reseller will continue to operate as its brand, keeping its name, team, and retail space amidst the acquisition.