(MENAFN- PR Newswire) TOKYO, Nov. 15, 2022 /PRNewswire/ --
AUCNET INC. (hereinafter 'AUCNET'), a Tokyo-based online auction company, will
be expanding its subsidiary -- AUCNET CONSUMER PRODUCTS INC. (hereinafter
'ACP') -- globally, opening up two new international branches, one in
Copenhagen, Denmark, and the other in Los Angeles, California, the United
States, starting this November. Each branch respectively represents ACP's
presence in Europe and North America. The European branch will be run by COO
Masaaki Furukawa, and the U.S. branch by COO Ayako Yamazaki, with Yasuto Saito
remaining as CEO of both branches. By expanding its physical business into
Europe and North America, ACP hopes to secure more suppliers of second-hand
luxury goods, which its buyers can purchase with ease.
The expansion coincides with the growth of the global resale market, which, for
clothing, including luxury brand-name items, was valued at about 35.4 billion
EUR* in 2021 and which is expected to exceed 83.7 billion EUR* by 2026 (*1).
While this resale industry contains products that offer profitable gains
globally, these items are often supplied by individuals who choose to consign.
Obtaining these items with a stable flow, while an essential part of the
process, continues to be an uphill battle.
To help combat the supply issue, AUCNET founded its subsidiary ACP in 2015.
Based in Tokyo and run by President and CEO Yasuto Saito, it currently has over
3,400 users worldwide. ACP conducts a luxury brand auction -- selling over
657,000 items yearly -- and is praised for being one of the top B2B second-hand
luxury auctions in Japan, with a yearly Gross Merchandise Value (GMV) of over 222 million EUR**.
By increasing the number of buyers in the target areas and following up with
acquisition of more sellers, ACP plans to further expand its growth abroad and
create circular distribution of its products worldwide.
References:
(*1) thredUP '2022 Fashion Resale Market and Trend Report'
*All USD to EUR conversions based on the following rate: 1 USD = 1.01 EUR (as
of November 2, 2022).
**JPY to EUR conversion based on the following rate: 145 JPY = 1 EUR (as of
November 2, 2022).
A message from the President & COO of AUCNET INC., Shinichiro Fujisaki
Photo:
'We at AUCNET are happy to announce the establishment of our two new entities
abroad with the aim of a global B2B distribution service in the second-hand
luxury goods market. We currently have over 3,400 users worldwide, and our
buyers abroad are specifically strengthening their presence year by year.
Seeing Europe as one of the world's biggest reuse markets with room still to
grow, we chose Denmark for our new entity. We would like to deepen our
understanding of the European market as well as improving our customer service
for our European clients. We will focus on expanding our buyer network in all
areas of Europe as a first step. As the next step, we will plan an even broader
expansion of our client network abroad by acquiring sellers in Europe. Our
future goal is to develop a unique, one-of-a-kind global B2B market originating
from Japan. Denmark, where we have founded one of our new legal entities, ranks
in the top 3 countries every year for the countries with the highest level of
SDGs achievements (*2). With the new establishment in Denmark, a leading
country in SDGs participation, we at AUCNET will strive to contribute to
sustainability along with even more partners, utilizing the location to
directly source information and ideas from this new and developing field to
create a society where all objects of worth can be circulated on a global
scale.'
(*2) For ranking details, please visit 'Sustainable Development Report 2022':
- European EntityCompany name: AUCNET EUROPE ApSAddress: Gothersgade 11, 1123, Koebenhavn KRepresentatives: CEO Yasuto Saito, COO Masaaki Furukawa
- North American EntityCompany name: AUCNET CONSUMER PRODUCTS USA, LLCAddress: 222 Pacific Coast Highway El Segundo (23rd Floor), CA 90245, USARepresentatives: CEO Yasuto Saito, COO Ayako Yamazaki
- Overview 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, JapanRepresentative: President & CEO Yasuto SaitoDate of establishment: January 5, 2015Capital: 30 million yen (as of December 31, 2021)Business description: Operation of pre-owned luxury brand auctions
- Overview of AUCNET INC.Company name: AUCNET INC.Headquarters: Aoyama OM Square, Kita-Aoyama 2-chome 5-8, Minato-ku, Tokyo
107-8349, JapanRepresentatives: Chairman & CEO Kiyotaka Fujisaki, President & COO Shinichiro
FujisakiDate of establishment: June 29, 1985Capital: 1,806 million yen (as of December 31, 2021)Consolidated net sales: 36,710 million yen (for the year of 2021)Number of employees (consolidated): 858 (as of December 31, 2021)Business description: Information distribution support services business,
including the organization and operation of online auctionsListing: Tokyo Stock Exchange Prime Market (Securities code: 3964)URL:
SOURCE AUCNET INC.
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