Luxe Collection, the UK based luxury resale merchant, has had approximately half of its stock stolen from a warehouse. The value of the goods stolen is estimated to be 500,000 GBP.

Sharing the news on LinkedIn, co-founder Ben Gallagher stated that,

“On Monday morning my brother rang me up to tell me we had been robbed. Initially, I thought he was joking. Until I realised he wasn’t. Never, do you ever think it’s going to happen to you until it does.”

Despite the warehouse being fitted with an elaborate security system including cameras, sensors and alarms, the thieves managed to discover and exploit a blind spot.

Luxe Collective was founded in Liverpool by Ben and his brother, Joe Gallagher, back in 2018, initially staring life as as a consignment store and subsequently growing into major player in the resale space. At the beginning to his year they appeared on Dragon’s Den, securing £100,000 funding from Steven Bartlett for a 3% equity stake in the company

Gallagher confirmed that they had notified all customers and stakeholders who have been affected by the theft, and that they would keep everyone updated when they had more information.

Given the sheer volume of items stolen, it seems unlikely that the thieves will be selling them one by one on eBay or similar. Competitor resale websites will be watching for any bulk influx of designer items to their businesses that could lead back to the robbery.