The expansion of retail stores and wholesale operations has propelled luxury resale platform Fashionphile to its most profitable year to date, with a 67 per cent year-over-year increase. 

Last year, the company reported a 60 per cent year-over-year growth in physical retail and the launch of its wholesale division, with more than 20 per cent of its transactions conducted in both channels.

In addition, the purchase of Montreal-based wholesale provider Two Authenticators last year contributed over 5 per cent of the company’s total annual revenue, although it was finalised only late in the first quarter.

As part of its expansion strategy, Fashionphile opened two new stores in late 2023 at Irvine Spectrum in Irvine, CA, and Carlsbad Premium Outlets in Carlsbad, CA. 

The company also opened long-term pop-up locations in Austin, Texas, and Lehi, Utah, and established a permanent store in Scottsdale, Arizona. 

After opening its first office in Beverly Hills in 2006 and a technology office in Downtown Los Angeles (DTLA) in 2021, the company has signed a lease for a 33,000 sqft flagship location in DTLA, opening in the Fall of this year.

On the wholesale front, last year, the company collaborated with luxury multi-brand retailers like Saks Fifth Avenue’s Off Fifth and entered key international markets such as Denmark, Canada, Germany, and Australia. 

Additionally, Fashionphile’s partnership with Galleria in Germany and travel retail operators allowed its products to be featured in more than 50 locations worldwide, including duty-free airport shops, cruise retail boutiques, and fully branded showcases.

The company aims to grow its presence in the US, Europe, and the Middle East.