Reebonz Announces Launch of "Sell Back Guarantee" in Thailand and Expands Service to Jewelry Category

Globe Newswire 30-May-2019 9:18 AM

SINGAPORE, May 30, 2019 (GLOBE NEWSWIRE) -- Reebonz Holding Limited ((the "Company" or "Reebonz", NASDAQ:RBZ), a leading online luxury marketplace and platform in Southeast Asia, announced today that it has launched its "Sell Back Guarantee" service in Thailand. With this addition, Reebonz aims to deepen its relationship with customers in Thailand.

Reebonz was the first e-commerce company to introduce this innovative service, which was born out of a deep understanding of and desire to meet the unfulfilled needs of customers. The Sell Back Guarantee service leverages the popular "trade-in" concept and gives customers a guaranteed price that the Company will pay to buy back products that were initially sold on its platform. Customers will be offered currency, called Reebonz Credits, that can be used for future purchases on the platform.

Reebonz has expanded the categories for which the Sell Back Guarantee applies from leather goods to jewelry. Pre-owned jewelry from selected brands such as Chanel, Harry Winston, Hermès, and Christian Dior, among others, will be eligible. The Sell Back Guarantee is now available in Singapore, Hong Kong, Taiwan, Malaysia, Australia, Indonesia, and the United States.

Fueling the pre-owned trend, individuals can not only buy trusted, authentic products from Reebonz, but also sell to Reebonz, overcoming some of the barriers that traditional marketplaces create. As a customer-centric company, Reebonz aims to deliver seamless buying and selling services to increase the lifetime value of each customer.   

Daniel Lim, Co-founder and Chief Product Officer of Reebonz, commented, "We are extremely excited to launch our Sell Back Guarantee in Thailand and expand into the jewelry category. We hope to further expand our services across geographies and categories, giving our customers even more ways to engage with us. We truly believe we can be a one-stop ecosystem for everyone's luxury needs."

Forward-Looking and Cautionary Statements
Certain statements made in this release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Reebonz's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the ability to maintain NASDAQ's continued listing standards; Reebonz's ability to manage growth; the reaction of Reebonz customers and suppliers to its business combination; rising costs adversely affecting Reebonz's profitability; potential litigation involving Reebonz's intellectual property; and general economic and market conditions impacting demand for Reebonz's products. See the risk factors disclosed in Reebonz's most recently filed prospectus, filed with the SEC on April 17, 2019 for additional risks. Reebonz does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Reebonz:

Headquartered in Singapore, Reebonz is the trusted online platform for buying and selling a wide range of luxury products. Reebonz makes luxury accessible by giving our members more from the world of luxury through Reebonz.com and Reebonz Closets app—a standalone C2C platform that allows customers to buy and sell their pre-owned items to a community of over 5.5 million members. With an easy shopping experience, members can enjoy convenient access to new and pre-owned luxuries curated from all around the world. Reebonz has offices located in Australia, Hong Kong, Indonesia, Malaysia, South Korea, Thailand, and Taiwan.

For investor and media inquiries, please contact:
Reebonz Holding Limited | ir@reebonz.com
Christensen | Tip Fleming | tfleming@ChristensenIR.com | Contact:  +1 917 412 3333

For more information on Reebonz, please visit www.reebonz.com

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