eBay Inc. (NASDAQ: EBAY) launched a new consignment service, giving users direct access to expert sellers who will list and sell their luxury items on their behalf.
Consumers can now use eBay consignment to sell new and pre-owned handbags from brands like Chanel, Hermès, Louis Vuitton, Prada, and Saint Laurent.
For the development, eBay has partnered with Linda Lightman, founder of Linda's Stuff and a leading seller of luxury goods.
With the addition of consignment, eBay said it is further cementing itself as a trusted destination for luxury and fashion.
In the last reported quarter, the company launched the Certified by Brand program, which provides shoppers access to a broader selection of luxury goods by partnering directly with brands to scale their presence in the secondary market.
The company also ventured into a luxury fashion rental marketplace in Q2 - The Volte - furthering the company's commitment to recommerce.
Gross Merchandise Volume of $18.2 billion fell 2% on an as-reported basis in Q2 and down 1% on an FX-Neutral basis.
"Launching a consignment service builds on the momentum of offerings like Authenticity Guarantee and Certified By Brand, giving our customers more trusted ways to buy and sell on the marketplace," said Tirath Kamdar, Global GM of Luxury at eBay.
Price Action: EBAY shares are trading lower by 0.24% to $43.40 on the last check Tuesday.