The Luxury Closet is a Dubai-based website that facilitates buying and selling secondhand luxury goods. The platform serves as a marketplace connecting buyers and sellers of pre-owned luxury items. The company has received $8.7m in fresh funding from investors in the region. The backing was provided by a group of Middle Eastern venture capital investors. The company said this funding comes as it seeks to expand beyond the region. The Luxury Closet operates an online marketplace for authenticated, high-end pre-owned fashion sold at discounts. Launched in 2011 with under AED150,000 in capital, it has grown through staged fundraising and operational discipline. The company focuses on improving user experience, driving engagement, and expanding market reach as core priorities. Founder and CEO Kunal Kapoor, a former head of sales at Louis Vuitton, emphasizes budget timelines and strategic VC partnerships to support growth. The startup is targeting expansion across the Middle East and India and is actively fundraising for a larger round to scale its technology and processes. No revenue or user metrics are disclosed in the article.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2016