Dubai's Leading Shared Company Acquires Bazaara to Expand Peer-to-Peer Fashion Rental Marketplace in the City
In a significant move for the fashion industry, Best Kept Shared, a Dubai-based fashion startup, has announced the acquisition of peer-to-peer fashion resale marketplace Bazaara. This acquisition marks a milestone in Best Kept Shared's journey to revolutionize the luxury fashion industry.
The 40,000 users of Bazaara will transition to Best Kept Shared, expanding the latter's user base and inventory. The website of Bazaara is already redirecting users to Best Kept Shared, offering customers an even broader range of options for buying, selling, and renting high-quality fashion items.
Bazaara, founded in 2021 by Alyssa Mariano, previously raised $230,000 in a pre-seed round led by Flat6Labs UAE in early 2023. The acquisition will help Best Kept Shared consolidate its presence in the fashion or lifestyle marketplace.
Regarding future plans, there is no detailed official statement outlining Best Kept Shared's strategic goals post-acquisition. However, the announcement welcomes Bazaara users into the Best Kept Shared community, implying an integration or consolidation of platforms to strengthen their position in the industry.
The move will also integrate Bazaara's extensive network with Best Kept Shared's existing infrastructure. Co-founders of Best Kept Shared, Kelly Power and Sophie Kjøller, commented that the acquisition is a significant milestone in their journey to revolutionize the luxury fashion industry.
Despite the acquisition, specific financial details have not been publicly disclosed. The precise industry impact remains unclear from current data, as no detailed information on financial terms, post-acquisition strategies, or direct industry influence has been found. However, the consolidation of fashion-related e-commerce or community platforms could potentially enhance user experience and market reach.
Best Kept Shared, founded in 2023 by Kelly Power and Sophie Kjøller, claims to be building an Airbnb of luxury fashion. As the industry evolves, it will be interesting to see how this acquisition shapes the future of luxury fashion resale.
Best Kept Shared, having acquired Bazaara, is poised to make inroads in the broader business arena, extending its reach beyond luxury fashion to encompass finance, technology, and lifestyle, including fashion-and-beauty. Post-acquisition, the consolidation of platforms is anticipated to improve the user experience and expand market reach, potentially reshaping the luxury fashion resale industry as we know it.
