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Singapore’s luxurious market Reebonz has modified homeowners not lengthy after it filed for liquidation in September final yr.
In a social media publish from Reebonz’s Facebook web page on Dec twenty seventh, it said that LiveCommerce Entertainment (LCE) – a livestreaming platform and market connecting manufacturers and reside streamers – has acquired all model and digital property of Reebonz.
The enterprise will function below a brand new administration. LCE additionally stated that it’ll handle and function ReebonzLIVE Facebook and Instagram channels, bringing every day reside promoting reveals instantly from Italy and Europe.
The rebranded identify, known as ReebonzLIVE, launched with out a lot fanfare on Dec twenty sixth. On Dec twenty eighth it had its first livestream.
In a quote on the web site, LCE stated: “Retailers and brands are realising that social commerce can no longer be optional in their strategy. Today’s customers are more social and demand a more meaningful and entertaining online shopping experience.”
“As people spend more time on social media platforms, reaching them via livestreaming on Facebook and Instagram live will become a dedicated and effective sales channel to reach and engage customers,” it added.
So who’s LCE?
According to Reebonz web site, it states that the founders of LCE are loyal followers of Reebonz they usually “want to bring back the joy and excitement of shopping with Reebonz at their online sales and offline pop up sales”.
The model was acquired in Dec 2021 and it wished to remain true to the founding model values of Reebonz as a ‘trusted’ and ‘exciting’ model.
A test on Singapore’s firm listing web site singapore-corp.com revealed that LCE is an lively firm, a non-public agency restricted by shares and its main enterprise exercise is the retail sale of clothes for adults.
The enterprise was proven to be registered on Sept twentieth, 2021, which is conveniently simply 10 days after Reebonz introduced that it might bear liquidation.
This means that Reebonz might have been in talks to promote its model property to LCE when the enterprise was planning to file for liquidation.
Little is thought in regards to the new firm and its founders as of now, a lot stays to be seen on how this “revamped” enterprise will carry out.
How is that this totally different?
Customers can tune in to every day livestreams on Facebook Live and Instagram to see the liveselling of assorted manufacturers.
They can place their orders whereas watching the livestreaming by way of the feedback part and order the gadgets.
Customers will then obtain a Facebook message so as to add merchandise(s) to cart and click on try to proceed.
A bank card try hyperlink might be despatched to prospects on Instagram. Users then make the acquisition by way of the pop up hyperlink utilizing bank card, QR pay, or PayNow.
LCE stated that it takes three to 4 weeks for the gadgets to succeed in prospects doorsteps by way of courier supply. Since the corporate solely began its reside gross sales late final month, it’ll take a few month earlier than the primary batch of consumers obtain their merchandise.
Currently, because of Reebonz’ collected social media following of virtually two million followers on Facebook, it appears there’s some traction on the platform, regardless of its tumultuous previous.
In a four-hour lengthy Facebook livestream on Dec twenty eighth, there have been 490 feedback, though a bulk of the feedback got here from Reebonz moderators recommending merchandise and phrases of encouragement from former prospects of Reebonz.
Livestreaming potential
Livestreaming has develop into successful in Singapore final yr, however that phenomenon truly stemmed from China, the place the nation has been conducting on-line gross sales by way of livestreams for a number of years.
As of December 2020, China’s livestreaming viewers hit 617 million individuals. Also, 388 million individuals made purchases by way of livestreams, a rise from 300 million in 2019.
Taking a have a look at Singapore, we be aware that influencers resembling getai singer Wang Lei have turned to livestream gross sales for the following massive factor. Wang crossed S$1 million in gross sales in two hours throughout a livestream from a Paris Gucci retailer.
Is this luxurious gadgets live-selling factor a fad, or will this be right here to remain? I assume solely time will inform.
Featured Image Credit: Reebonz, ReebonzLIVE
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