AUCNET INC., a Tokyo-based online auction company, will be expanding its subsidiary — AUCNET CONSUMER PRODUCTS INC. (hereinafter “ACP”) — globally, opening up two new international branches, one in Copenhagen, Denmark, and the other in Los Angeles, California, the United States, starting this November. Each branch respectively represents ACP’s presence in Europe and North America. The European branch will be run by COO Masaaki Furukawa, and the U.S. branch by COO Ayako Yamazaki, with Yasuto Saito remaining as CEO of both branches. By expanding its physical business into Europe and North America, ACP hopes to secure more suppliers of second-hand luxury goods, which its buyers can purchase with ease.
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The expansion coincides with the growth of the global resale market, which, for clothing, including luxury brand-name items, was valued at about 35.4 billion EUR* in 2021 and which is expected to exceed 83.7 billion EUR* by 2026 (*1). While this resale industry contains products that offer profitable gains globally, these items are often supplied by individuals who choose to consign. Obtaining these items with a stable flow, while an essential part of the process, continues to be an uphill battle.
To help combat the supply issue, AUCNET founded its subsidiary ACP in 2015. Based in Tokyo and run by President and CEO Yasuto Saito, it currently has over 3,400 users worldwide. ACP conducts a luxury brand auction — selling over 657,000 items yearly — and is praised for being one of the top B2B second-hand luxury auctions in Japan, with a yearly Gross Merchandise Value (GMV) of over 222 million EUR.
By increasing the number of buyers in the target areas and following up with acquisition of more sellers, ACP plans to further expand its growth abroad and create circular distribution of its products worldwide.