Seventeen months. That’s how long Reebonz lasted on Nasdaq. In July, Nasdaq delisted the Singapore-based luxury online marketplace after it failed to meet the minimum share price requirement of US$1 for more than 30 days.
For a company that brought luxury brands like Chanel, Prada, Gucci, Balenciaga, Burberry, and Louis Vuitton, among others, to the fingertips of Asian consumers, it was a crushing blow.
Reebonz (pronounced “ribbons”) launched in 2009 with an aim to “make luxury accessible” to Asians. It broke the conventional model of selling luxury items offline to maintain their exclusivity and scarcity. Today, Reebonz is an online marketplace for over 1,000 brands and 172 luxury boutiques, with shipping available to 17 countries.