eBay Expands Luxury Offering with New Brand Platform
"Certified by Brand" invites designers and brands to scale their resale efforts, and provides shoppers with access to an expanded selection of authentic luxury watches, handbags, and jewelry
SAN JOSE, Calif., April 27, 2023 /PRNewswire/ -- Today, eBay announces the launch of its new Certified by Brand program, partnering directly with brands to scale their presence in the secondary market, while providing shoppers access to a wider selection of coveted and collectible luxury goods. Through this program, new, certified pre-owned, limited-edition or exclusive 'only on eBay' inventory from top brands like Konstantin Chaykin, Zodiac Watches and Le Vian will be available, complementing eBay's Authenticity Guarantee to deliver a more trusted, confident marketplace.
The secondary market for premium and luxury goods grew significantly in 20221, propelled by consumer enthusiasm for collecting and passion investments. Luxury brands are being edged further into the resale space and many have fortified a presence by seeking partners to help compete in the secondary market. eBay's Certified by Brand program provides brands and brand-authorized sellers access to both the platform's 133 million active buyers, and consumer insights from eBay's global network of buyers.
"Certified inventory in the resale market is an undeniable opportunity for brands and authorized retailers, and eBay is the ideal partner for those looking to scale," said Tirath Kamdar, Global GM of Luxury at eBay. "eBay's Certified by Brand program broadens access to both buyers and brands to shop and sell luxury goods with confidence and certainty."
Certified by Brand will include watches, handbags, and fine jewelry from a growing roster of luxury's foremost brands. Listings within the program will include either "Direct from Brand" or "Brand Authorized Seller" badging and information on Certified by Brand within each item listing, making it easy for buyers to identify listings in the program, similar to how eBay's Authenticity Guarantee check mark distinguishes inventory.
"As a long-time customer of eBay, I have always valued discovering remarkable pieces among the platform's breadth of inventory", said Vianney Halter. "I am pleased to be partnering with eBay to bring a selection of extraordinary watches to their customer base."
With nearly 28 years of expertise fostering its global online marketplace, eBay continues to drive trust in its unmatched selection of luxury goods on a global scale. Programs like Authenticity Guarantee – which currently includes sneakers, handbags, watches, jewelry, and trading cards – have had significant impact since the service was first introduced, and luxury focus categories have had roughly double-digit annualized growth since Q4 2019. Certified by Brand signals eBay's continued dedication to bolster confidence in its shopping experience for high-passion and high value-products for brands, retailers and buyers alike.
Bringing a Wider Selection of Trusted Inventory to a Larger Audience
Certified by Brand partners will gain access to consumer insights from eBay's global network of buyers and will be able to influence pricing of their brand inventory within the secondary market. Brands and brand-authorized sellers will also be able to control their brand equity and image with access to various eBay platform channels to amplify their own messaging to help drive growth and move inventory.
Buyers will now have multiple ways to shop authentic luxury goods on eBay.com, with listings identifiable via differentiated badging:
1. Certified by Brand: Inventory will be brand-backed and all watch brands come with a minimum one year warranty, and jewelry and handbag items include a certificate of authenticity with purchase, instilling continued confidence in every transaction. Listings within the program will be represented by two badge categories:
- Direct From Brand: Listing is either new or pre-owned inventory and either comes directly from the brand's manufacturer or has been previously authenticated by the brand.
- Brand-Authorized Seller: Listing is either new or pre-owned inventory from a seller who has been authorized by, and supplied inventory from, the brand.
- Participating Brands: ADPT (All Day, Purpose, Terrain), Alberto Milani, ALOR, Badgley Mischka, Diana M., Ernst Benz, I.Reiss, Judith Ripka, Konstantin Chaykin, Le Vian, Lika Behar Collection, Perrelet, RPaige, Roman+Jules, Vianney Halter and Zodiac Watches.
2. Authenticity Guarantee: Launched in the US market in 2020 with watches, eBay's Authenticity Guarantee service vets and verifies eligible watches, handbags, jewelry, sneakers and trading cards, at no cost to the buyer or seller. The service has expanded to include 5 categories on eBay available for select products in 5 countries. Certified by Brand inventory it will not qualify for eBay's Authenticity Guarantee service. Read more about Authenticity Guarantee.
Certified by Brand is currently available for brands and buyers located in the US. Brands and authorized sellers will continue rolling out in the next few weeks and more are slated to join the Certified by Brand program over the next year, with plans for expansion to other markets. Learn more about eBay's Certified by Brand program at ebay.com/certified-by-brand and shop the offering of watches, handbags and jewelry. For more, follow the conversation with @eBay on Instagram, Twitter, YouTube and Facebook.
Luxury on eBay – By the Numbers
- Luxury focus categories (watches, handbags, jewelry and sneakers) have had roughly double digit annualized growth on eBay since Q4 2019.
- Across eBay's three largest markets (US, UK and Germany) for watches and handbags listed for +
$500 + and jewelry listed for$300 +: - Average daily fixed price live listings grew by double digits as of March 2023 compared to the same period in the prior year.
- Over
60% of watches, over50% handbags and over30% of jewelry listings were categorized as pre-owned in 2022. - There were over 170K watches, over 100K handbags and over 1 million jewelry average daily listings in 2022.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2022, eBay enabled nearly
1Bain & Co. 2023. Renaissance in Uncertainty: Luxury Builds on Its Rebound
Media Contact: press@ebay.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/ebay-expands-luxury-offering-with-new-brand-platform-301809117.html
SOURCE eBay Inc.
