In a significant move to boost trust in the burgeoning pre-loved fashion category, eBay recently announced plans to acquire Certilogo, a pioneer in AI-powered digital ID and authentication for apparel and fashion goods. This development has the potential to make an immediate and impactful contribution to the fashion industry, offering fresh opportunities for small businesses to engage with consumers.
As more and more consumers seek out sustainably conscious purchases, the acquisition is poised to solidify eBay’s position as a trusted destination for buying and selling pre-loved apparel and fashion goods. eBay’s commitment to utilizing advanced technology in the service of its buyers and sellers is a key element in this strategic move.
Certilogo’s cutting-edge platform enables brands and designers to manage the lifecycle of their garments through digital technology. Consumers can confirm the authenticity of items, access reliable information about branded items, and easily activate circular services – all contributing to a seamless shopping experience.
“For many years, consumers have turned to eBay as a trusted destination for buying and selling pre-loved apparel and fashion goods, not only because of the unmatched selection but because of our commitment to utilizing the latest technology to empower our sellers and buyers,” said Charis Marquez, VP, eBay. “Certilogo’s technology and talented team allows eBay to build on this commitment, establishing eBay as a leader in pre-loved fashion, and offering new ways for consumers to connect and engage with brands.”
The acquisition also symbolizes a promising alliance between two pioneers. While eBay is a known leader in recommerce, Certilogo has broken new ground in connected products and consumer-facing digital authentication. As Michele Casucci, CEO and Founder of Certilogo, said, “eBay pioneered recommerce, while Certilogo pioneered connected products and consumer-facing digital authentication. By joining forces, we will be able to make an immediate and significant contribution, taking advantage of already consolidated skills and infrastructures, promoting a model that has its foundation in community and circularity.”
The merger of eBay and Certilogo brings forth a new era of trust and authenticity in the second-hand fashion market. It also presents exciting prospects for small business owners who can now assure their customers of the legitimacy and sustainability of their products. Such guarantees can undoubtedly enhance customer loyalty and stimulate growth in sales.
The news of eBay signing a definitive agreement to acquire Certilogo as of May 15, 2023, marks a significant moment in the fashion industry. The closing of the deal, subject to the satisfaction of customary conditions, including regulatory approvals, is expected to occur in the third quarter of the year.
The details of this transaction remain undisclosed. However, this agreement signifies a key investment in the growing pre-loved fashion category and paves the way for a more sustainable, trusted, and technology-driven fashion industry. Small business owners in the pre-loved fashion sector will likely find this to be a moment of great opportunity, as it promises to further energize the growing circular fashion economy.
This article, “eBay Bolsters Trust in Pre-Loved Fashion with Acquisition of Certilogo” was first published on Small Business Trends