eBay invests in luxury resale platform Cudoni
What: eBay invested £7.5 million in the UK-based luxury resale company, Cudoni.
Why it is important: Resale is a fast-growing fashion market and offers eBay an opportunity to expand its marketing position.
An investment from eBay brought the total raised by Cudoni to £14.3 million since its founding in 2017.
Cudoni, which has over 4,000 brands available on its website, plans to invest the £7.5 million raised in its sales and marketing functions. The resale company has seen its volume of sales increase sevenfold on its platform since 2020.
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