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Focussed on authenticity, The Fifth Collective is a conduit for buyers and sellers to find high-end luxury goods

The Fifth Collection, a high-end vintage fashion marketplace based in Singapore, has announced today it raised a S$2 million (US$1.4 million) seed round led by Florian Fenner, a Venture Capitalist with an eye on Southeast Asia.

Chris Evdemon, a Partner at Sinovation Ventures (out of China) and Peter Douglas, an investor with a long history in Asia, also invested in the company. Other undisclosed investors also participated in the round.

Calling itself a ‘re-commerce platform’, the money will be used to grow the team and invest in operations, marketing and technology. It also will help finance avenues to help grow sales.

The Fifth Collection is a marketplace platform for luxury-goods sellers to upcycle their offerings through a trustworthy platform and for buyers to find high-end products that have been certified and vetted.

“Our core value is authenticity, not only with regard to our products, but also in our promise to our customer, our people and every aspect of what we do. Customers in this region are among the most sophisticated in the world and they can feel it. This approach takes more time but we have been rewarded with 70 percent repeat customer sales and an average order value of over S$1,000 (US$750),” said Co-founder and CEO Nejla Matam-Finn in a statement.

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For its users, the company provides authenticity, quality control, price recommendation, deluxe packaging, returns handling, and free next-day shipping.

Focussing on authenticity makes sense for the startup because the listed items sell for a lot of money. As of publishing, the homepage has a bag from Hermés selling for S$143,000 (US$99,800) and a Céline luggage bag being offered at S$3,000 (US$2,000).

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It offers products from famous luxury designers like Jimmy Choo, Burberry and Vera Wang. In total, the marketplace has about 500 brands from the luxury fashion industry.

The Founding team is a husband-wife duo. Nejla Matam-Finn acts as CEO while her husband Michael is the COO.

The online fashion magazine Büro 24/7 awarded the company with the honor of ‘Best Singapore Digital Startup in 2016′.

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Copyright: Prometeus / 123RF Stock Photo

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