TrueFacet, A Market For Pre-Owned Jewellery, Relaunches With New Texting Function
In the event you have been to gather all the designer-label jewellery and watches on the earth and throw them in a pile, TrueFacet cofounder and CEO Tirath Kamdar tells TechCrunch, over forty % of the pile can be counterfeit.
Figuring out that, shopping for pre-owned items of jewellery or a watch from one other particular person, and even one of many many jewellery shops throughout forty seventh road in NYC’s Jewellery District, might look like a little bit of a danger. That’s the place TrueFacet is available in.
The corporate, based mostly in New York, lets each people and retailers promote pre-owned watches and items of jewellery that are rigorously vetted and authorized by TrueFacet’s personal jewellery specialists. In reality, not a single piece of knickknack bought on TrueFacet is delivered to the client earlier than going via TrueFacet’s NYC headquarters. The corporate has processed greater than 5,000 items to date.
By way of a particular pricing engine that weighs provide and demand, in addition to common on-line worth of the SKU, TrueFacet delivers a aggressive worth for each the customer and the vendor.
TrueFacet launched again in January of 2014 and is at this time re-launching with a completely redesigned web site, plus a Concierge function.
The brand new Concierge function lets customers textual content certainly one of TrueFacet’s specialists to get assist with a purchase order, whether or not it’s simply discovering a selected SKU in a sure measurement or ranging from scratch making an attempt to select an anniversary current.
TrueFacet’s Concierge service began as a one-off software after getting a number of particular person requests for particular items. Kamdar and his workforce began a Google Doc and after a couple of months, rows have been numbering within the tons of, so the engineering workforce set to work constructing out an SMS service.
Concierge not solely immediately connects customers to an professional, who will present the required piece for buy inside forty eight hours, nevertheless it additionally permits customers to ship photographs of jewellery or watches they see to get extra info.
Since launch, TrueFacet has seen 20 to 25 % progress month over month when it comes to GMV, with over forty two % progress up to now couple of months. The Concierge function, even in beta, has acquired greater than 1200 requests, and TrueFacet’s common order worth is over $2,200.
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TrueFacet has raised a complete of $four.eight million throughout two funding rounds from buyers Maveron, FreeStyle Capital, and others.