Luxury Promise, a platform for second-hand luxury products, has raised £8 million follow-on funding led by existing investors including Beringea.

The startup was founded in 2017 by Sabrina Sadiq, who had more than a decade of experience with global luxury brands.

It seeks to democratise the luxury sector by providing customers around the world with access to products which are authenticated through tech-enabled social commerce.

Luxury Promise, which has achieved more than 450% in sales growth since 2019, creates live shopping experiences to provide consumers with an opportunity to interact with one of the company’s specialist authenticators. 

It will use the funding to fuel expansion into new markets, ramp up hiring across operating, logistics and finance functions, and expand the ground-breaking live shopping platform across multiple time zones and languages.

The round also secured new backing from influential industry leaders and strategic investors including Francois Delage, former CEO of De Beers Jewelers and executive at LVHM; Pierre Denis, former CEO of Jimmy Choo and executive at LVMH; Chryseis Tan, senior executive of Berjaya Corp Berhad; Nick Evans and Spencer Skinner, managing partners at Active Partners; and Lena Tan, senior executive at New World Group.


“This raise enables us to build upon our rapid growth, roll out our live streaming platform on a wider international scale as well as scale our operations and tech integrations to fortify our presence as a leading global player in luxury resale,” said CEO Sadiq.

Karen McCormick, chief investment officer of Beringea, said: “Luxury Promise remains one of the true luxury re-sellers of highly authenticated products, with incredible client engagement and repeat rates. 

“Sabrina isn’t just a founder, but a friend and inspiration to the wider Luxury Promise community, and the true spirit of the brand. Her specialist expertise and effortlessly inclusive leadership has built a remarkably diverse, motivated, and creative team. 

“We see huge potential in the business as it enters the next exciting chapter of its growth.”

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