EBay acquired AI-powered digital ID firm Certilogo as the newest move to spice up its pre-loved fashion category.
Though financial details remain undisclosed, the definitive agreement was effective as of Monday, with closing expected by the third quarter. EBay’s momentum is in full swing, after recently investing in sporting goods resale marketplace SidelineSwap earlier this month and acquiring marketplace compliance solution 3PM Shield in February.
This latest deal is claimed to represent a key investment in expanding the corporate’s pre-owned apparel offering, as Certilogo’s digital tech platform enables each authentication and a record of a product’s full life cycle. The Milan-based tech company was founded in 2006 and provides web-based digital identification so products might be seamlessly verified. Certilogo’s platform is already utilized by greater than 80 fashion brands, including Diesel and Versace.
“For a few years, consumers have turned to eBay as a trusted destination for getting and selling pre-loved apparel and fashion goods, not only due to the unrivaled selection, but due to our commitment to utilizing the newest technology to empower our sellers and buyers,” eBay vp Charis Marquez said in an announcement. “Certilogo’s technology and talented team allows eBay to construct on this commitment, establishing eBay as a frontrunner in pre-loved fashion, and offering latest ways for consumers to attach and have interaction with brands.”
“Certilogo was created to construct connections between consumers and types, utilizing technology to simplify and strengthen those relationships and unlock information that fundamentally changes how we interact with apparel and accessories,” commented Michele Casucci, chief executive officer and founding father of Certilogo. “EBay pioneered re-commerce, while Certilogo pioneered connected products and consumer-facing digital authentication. By joining forces, we’ll find a way to make a right away and significant contribution, profiting from already-consolidated skills and infrastructures, promoting a model that has its foundation in community and circularity.”
Earlier this month, eBay released its 2022 impact report, showcasing latest goals and progress on re-commerce, climate, social impact and charitable milestones. Last 12 months, the 25-year-old business reported a 32 percent reduction in carbon emissions (up from 27 percent the previous 12 months).
Technology is a key investment in the corporate’s growth.
By 2025, eBay looks to avoid 8 million metric tons of carbon emissions and deflect 350,000 metric tons of waste through selling pre-owned and refurbished goods on its platform. For the quarter ended March 31, eBay reported net sales inched up 1 percent to $2.51 billion on comparable basis.
In a past interview with WWD, eBay’s chief sustainability officer, Renee Morin, laid out the corporate’s re-commerce reboot as a mirrored image of today’s dynamic marketplace values. “Twenty-five years is a protracted time, and we desired to be sure we’re being as conscious of the feelings of our sellers — and our buyers — as we might be.”
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