admin London-based luxury resale platform Sign of the Times has acquired certain assets of Cudoni, which collapsed into administration in April, citing the rising cost of living and economic crisis in the UK.
In a statement, Sign of the Times said the acquisition would reinforce itself as one of the largest luxury resellers in the UK by increasing its database by 35 percent.
Founded in 1976, Sign of the Times specialises in pre-loved designer goods from brands, including Chanel, Prada, Gucci and Ganni. It operates daily drops at 10am on its website and offers around 5,000 items online and 2,000 pieces in its Chelsea store.
Commenting on the acquisition, Antonia Johnstone, owner and chief executive of Sign of the Times said: “At Sign of the Times we are passionate about bringing new life to pre-loved pieces. We believe strongly in the circular economy and to extend the lifecycle of clothes and accessories, so we are so pleased to be working to acquire the assets of Cudoni. We share the same pre-loved values, so we are also thrilled to be welcoming their customers to Sign of the Times.”
Cudoni was founded by James Harford-Tyrer and relaunched in 2017, shifting its focus from selling pre-owned products to pre-owned luxury fashion. Its closure in April came just three months after the company raised 7.5 million pounds in a funding round led by marketplace giant Ebay’s venture arm and existing investors.
