Luxury goods retailer LXR & Co launches in Canada, assisted by $1.5 mln funding from BDC


Montréal-based LXR & Co, an e-commerce specialist in vintage luxury products, made its Canadian launch with the help of a $1.5 million investment from the Business Development Bank of Canada (BDC). Founded earlier this year, the company features an online platform called  LXRco.com, which is currently operational in a dozen countries and has a boutique in Beverly Hills. BDC funding was provided to parent company LXR Canada, a wholesaler of vintage products in North America, and will be used for operational development.

PRESS RELEASE

Canadian launch of LXRco.com – Vintage luxury the way it should be

Montreal start-up LXR & Co. is entering the Canadian market and is investing $ 1.5 million in its e-commerce site

MONTREAL, Sept. 23, 2013 /CNW Telbec/ – The Canadian e-commerce industry is preparing to welcome a new major player, namely LXR & Co., who will be specializing in vintage luxury products.

Launched in early 2013, the Montreal-based company co-founded by Frederick Mannella and Jean-Philippe Robert quickly established itself in the global industry of vintage luxury accessories. Each week, the site offers its 100,000 members more than 500 new products signed Chanel, Louis Vuitton or Hermes for up to 80% off the original price.

Currently present in more than a dozen countries, LXRco.com also has a boutique in Beverly Hills to respond to the undeniable craving for vintage luxury items. Increasing demand made it a natural decision to expand LXRco.com’s online services to all Canadians.

“We wanted to ensure that we were providing our Canadian clients with a high quality shopping experience with no surprises, without customs fees, and with free shipping offered, explained Jean-Philippe Robert, CEO and co-founder of LXR & Co. LXRco.com is about adding a classic and authentic touch to our wardrobes. It is very exciting to finally provide Canadians with vintage luxury products at more affordable prices.”

In an industry where quality and authenticity are everything, LXR & Co. distinguishes itself thanks to its expert vintage luxury products team. Each item is checked, analyzed and evaluated in order to ensure its authenticity, quality and actual value.

“Our goal is to meet the market demand for vintage luxury accessories, said Frederick Mannella, founder and president of LXR & Co. We are aiming at creating a pleasant, easy and especially stress-free vintage shopping experience.”

Significant Partnerships

In the wake of its Canadian launch, LXR & Co. is delighted to announce an important partnership between its parent company, LXR Canada, and the Business Development Bank of Canada (BDC), which will allow the company to invest $ 1.5 million in operations development.

“In recent years, LXR Canada maintained a very strong growth rate, said Maxime Tourangeau, Director of Subordinate Financing at the Business Development Bank of Canada (BDC). Its high-quality team of entrepreneurs and unique positioning enable LXR Canada to benefit from a favourable position to consolidate its leading position in its market segment, including using its business model to take advantage of the steady growth in e-commerce business.”

Website: LXRco.com
Facebook: facebook.com/LxrCo
Twitter: @LxrCo
Instagram: @LxrCo
Pinterest: pinterest.com/LxrCo

About LXR & Co.

LXR & Co. is a private luxury sales club of offering authentic vintage accessories up to 80% off. Supported by LXR Canada, one of the largest wholesalers of vintage products in North America, LXR & Co. relies on its supply and authentication capability that is unmatched in the industry. Each product sold by LXR & Co. is first subjected to a strict control so that members can carry out their purchases without any concerns. LXR & Co. guarantees the authenticity of all items available on LXRco.com.

About the BDC

The Business Development Bank of Canada, or BDC, puts entrepreneurs first. With almost 2,000 employees and over 100 business centers across the country, BDC offers financing, subordinate financing, venture capital, securitization and consultation to more than 28,000 small and medium sized companies. Their success is vital to the strength and prosperity of the Canadian economy.

SOURCE LXR & CO.

For further information:
Marjolyn Dimapilis
[email protected]
(604) 684-6655

Photo courtesy of Shutterstock.

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