eBay Acquires Certilogo to Show Commitment to the Secondhand Fashion Sector
E-commerce behemoth eBay Inc. reached a formal deal to purchase Certilogo, a leading tech company known for its AI-powered instant product authentication. Certilogo's platform employs digital technology to enable brands and designers to manage the garment life cycle, while also giving customers an easy method to verify authenticity, obtain trustworthy information about branded products, and activate circular services. This purchase is a major bet on the booming pre-owned fashion market, and it strengthens eBay's position as a go-to place to buy gently used clothing and accessories online.
“For many years, consumers have turned to eBay as a trusted destination for buying and selling preloved apparel and fashion goods, not only because of the unmatched selection, but because of our commitment to utilizing the latest technology to empower our sellers and buyers,” said Charis Marquez, Vice President of eBay. “Certilogo’s technology and talented team allows eBay to build on this commitment, establishing eBay as a leader in pre-loved fashion, and offering new ways for consumers to connect and engage with brands.”
Michele Casucci, CEO and Founder of Certilogo, expressed that Certilogo's primary goal is to establish meaningful connections between consumers and brands through technology, streamlining and fortifying those relationships, and revolutionizing the way we engage with apparel and accessories. While eBay has been a trailblazer in recommerce, Certilogo has been at the forefront of developing connected products and consumer-oriented digital authentication. With their collaboration, they aim to make an immediate and substantial impact, leveraging their existing expertise and infrastructure, and advocating a model rooted in community and circularity.
As of 15 May 15 2023, eBay has entered into a definitive agreement to acquire Certilogo. The completion of the acquisition is contingent upon meeting standard conditions, such as obtaining regulatory approvals, and is anticipated to take place in the third quarter. No further details have been disclosed at this juncture.
Source: eBay Enters Into Agreement to Acquire Certilogo Enhancing Pre-Loved Fashion Category with Digital ID Technology
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