Published: May 23, 2023
by Small Business Editor
In Small Business News
In a significant move to boost trust in the burgeoning pre-loved fashion category, eBay recently announced plans to acquire Certilogo, a pioneer in AI-powered digital ID and authentication for apparel and fashion goods. This development has the potential to make an immediate and impactful contribution to the fashion industry, offering fresh opportunities for small businesses to engage with consumers.
As more and more consumers seek out sustainably conscious purchases, the acquisition is poised to solidify eBay’s position as a trusted destination for buying and selling pre-loved apparel and fashion goods. eBay’s commitment to utilizing advanced technology in the service of its buyers and sellers is a key element in this strategic move.
Certilogo’s cutting-edge platform enables brands and designers to manage the lifecycle of their garments through digital technology. Consumers can confirm the authenticity of items, access reliable information about branded items, and easily activate circular services – all contributing to a seamless shopping experience.
“For many years, consumers have turned to eBay as a trusted destination for buying and selling pre-loved apparel and fashion goods, not only because of the unmatched selection but because of our commitment to utilizing the latest technology to empower our sellers and buyers,” said Charis Marquez, VP, eBay. “Certilogo’s technology and talented team allows eBay to build on this commitment, establishing eBay as a leader in pre-loved fashion, and offering new ways for consumers to connect and engage with brands.”
The acquisition also symbolizes a promising alliance between two pioneers. While eBay is a known leader in recommerce, Certilogo has broken new ground in connected products and consumer-facing digital authentication. As Michele Casucci, CEO and Founder of Certilogo, said, “eBay pioneered recommerce, while Certilogo pioneered connected products and consumer-facing digital authentication. By joining forces, we will be able to make an immediate and significant contribution, taking advantage of already consolidated skills and infrastructures, promoting a model that has its foundation in community and circularity.”
The merger of eBay and Certilogo brings forth a new era of trust and authenticity in the second-hand fashion market. It also presents exciting prospects for small business owners who can now assure their customers of the legitimacy and sustainability of their products. Such guarantees can undoubtedly enhance customer loyalty and stimulate growth in sales.
The news of eBay signing a definitive agreement to acquire Certilogo as of May 15, 2023, marks a significant moment in the fashion industry. The closing of the deal, subject to the satisfaction of customary conditions, including regulatory approvals, is expected to occur in the third quarter of the year.
The details of this transaction remain undisclosed. However, this agreement signifies a key investment in the growing pre-loved fashion category and paves the way for a more sustainable, trusted, and technology-driven fashion industry. Small business owners in the pre-loved fashion sector will likely find this to be a moment of great opportunity, as it promises to further energize the growing circular fashion economy.
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EBay, the online e-commerce giant, has taken a major step to bolster the trust shoppers have in pre-loved fashion with the acquisition of Certilogo. Through this new partnership, shoppers can now verify the authenticity of almost all fashion products sold on eBay.
The goal of the acquisition is to provide both eBay and its customers with increased security and trust. Certilogo is the world’s leading brand authenticity platform, with over 50 million verified products, and over 10,000 brands supported. As a result of this acquisition, eBay can now scan through billions of listings to rapidly detect the presence of counterfeit products and take them off its platform.
With Certilogo’s advanced authentication algorithms, shoppers can now be sure that all pre-loved fashion products sold on eBay are legitimate, and not counterfeit or unauthorized. This will encourage customers to shop with confidence, and help eBay develop a more trusted marketplace for pre-loved fashion items.
Additionally, eBay and Certilogo have also teamed up to improve the product return process. Customers can now use Certilogo’s platform to obtain a certificate of authenticity for any purchased product, which helps ensure a smoother and more secure return process. This will help eBay shoppers feel even more confident about their purchases, and help eBay build long-term customer loyalty.
EBay’s acquisition of Certilogo is a major step forward in strengthening trust in pre-loved fashion products sold on its platform. As a result of this partnership, customers can now shop with confidence, and eBay can build a more secure and trusted marketplace. This is a major milestone for eBay that will help the company develop a better shopping experience for its customers.