S’pore luxury market Reebonz sells directly on social media – Wired PR Lifestyle Story

The Reebonz luxury market has recently changed owners archived to settle in September last year.

In a December 27 Facebook post on Reebonz’s social network, LiveCommerce Entertainment – a live platform and marketplace that connects brands and live streamers – stated that it has acquired all of Reebonz’s digital brands and assets.

The business will operate under a new management. LCE has also said it will manage and operate ReebonzLIVE’s Facebook and Instagram channels, bringing live shows that it sells live from Italy and Europe.

Renewed as ReebonzLIVE, it was released without much fuss on December 26th. He had his first live performance on December 28th.

In a statement on the website, LCE said: “Retailers and brands are realizing that social commerce can no longer be an option in their strategy. Today’s customers are more social and demand a more meaningful and entertaining online shopping experience.”

“As people spend more time on social media platforms, reaching out to them through live streaming on Facebook and Instagram will become a dedicated and effective sales channel to reach and attract customers,” he added.

So who is LCE?

According to the Reebonz website, LCE founders are loyal fans of Reebonz and “want to regain the joy and excitement of shopping with Reebonz in online sales and offline pop-up sales.”

The brand was bought in December 2021 and wanted to stay true to the values ​​of Reebonz’s founding brand as a “trustworthy” and “exciting” brand.

A check on the Singapore Business Directory website at singapore-corp.com revealed that LCE is an active company, a private limited company and its main business is the retail sale of adult clothing.

It was shown that the business was registered on September 20, 2021, which is convenient Just 10 days After Reebonz announced that he would settle.

This suggests that Reebonz may have been in talks to sell his active brand to LCE when the business intended to file for liquidation.

We know very little about the new company and its founders so far, so there’s a lot to see how this business will work.

How is this different?

Customers can tune in to daily live broadcasts on Facebook Live and Instagram to see live sales of various brands.

They can make their own requests while watching a live stream via the comments section and request items.

Customers will then receive a Facebook message to add items to the cart and click Exit to continue. A credit card withdrawal link will be sent to customers on Instagram.

Users then make a purchase via a pop-up link and pay by credit card, QR payment, or PayNow.

The LCE said it would take three to four weeks for the products to reach the customer portal via courier. The company only started direct sales at the end of last month, which will take about a month for customers to receive the products.

Today, thanks to Reebonz’s nearly two million followers on Facebook, there seems to be a bit of traction on the platform, despite the turbulent past.

There were 490 comments on Facebook’s four-hour live stream on December 28th, although most of the comments came from Reebonz moderators recommending Reebonz’s ex-client products and support.

Live streaming potential

Live streaming has been successful in Singapore last year, but this phenomenon comes from China, where the country has been making online sales in recent years through live streaming.

From December 2020 onwards, Chinese live listeners enjoyed success 617 million. In addition, 388 million people made purchases through live streaming, more than 300 million in 2019.

Taking a look at Singapore, we notice that actors like Geta singer Wang Lei have gone straight to the next big thing. Wang crossed it S $ 1 million in two hours of sales in a live replay from a Paris Gucci store.

Is it a fad to play this luxury item live, or will it stay here? I think only time will tell.

Featured Image Credit: Reebonz, ReebonzLIVE