About Luxury Promise
Luxury Promise is a company based in London (United Kingdom) founded in 2016 by Sabrina Sadiq and Adam Sadiq.. Luxury Promise has raised $18.45 million across 7 funding rounds from investors including Richemont, Beringea and Francois Delage. Luxury Promise operates in a competitive market with competitors including TILT, Cudoni, Open for Vintage, Subdial and Hardly Ever Worn It, among others.
- Headquarter London, United Kingdom
- Founders Sabrina Sadiq, Adam Sadiq
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Luxury Promise Limited
- Date of Incorporation 01 Aug, 2016
- Jurisdiction LONDON, ENGLAND
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$18.45 M (USD)
in 7 rounds
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Latest Funding Round
$1.9 M (USD), Series B
Mar 01, 2024
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Investors
Richemont
& 8 more
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Employee Count
Employee Count
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Funding Insights of Luxury Promise
Luxury Promise has successfully raised a total of $18.45M across 7 strategic funding rounds. The most recent funding activity was a Series B round of $1.9 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series B — $1.9M
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First Round
First Round
(21 Dec 2016)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series B - Luxury Promise | Valuation |
investors |
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| Dec, 2021 | Amount | Series B - Luxury Promise | Valuation | Beringea | |
| Feb, 2021 | Amount | Series A - Luxury Promise | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Luxury Promise
Luxury Promise has secured backing from 9 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Richemont, Beringea and Francois Delage. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments are made in growth-stage startups by Beringea.
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Founded Year | Domain | Location | |
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Luxury goods, jewelry, watches, and fashion accessories are retailed globally.
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Founded Year | Domain | Location | |
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FD
Francois Delage |
Angel investor, ex-CEO of St. Regis Mumbai, luxury hospitality expert
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Luxury Promise
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Luxury Promise
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Luxury Promise Comparisons
Competitors of Luxury Promise
Luxury Promise operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as TILT, Cudoni, Open for Vintage, Subdial and Hardly Ever Worn It, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multi-category fashion products are streamed live via a mobile app.
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| domain | founded_year | HQ Location |
Pre-owned luxury goods are sold via an online platform.
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| domain | founded_year | HQ Location |
Vintage pre-owned fashion products are offered through an online marketplace.
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| domain | founded_year | HQ Location |
Second-hand luxury watches from various brands are traded online.
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| domain | founded_year | HQ Location |
Pre-owned luxury fashion items are bought and sold online.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Luxury Promise
Frequently Asked Questions about Luxury Promise
When was Luxury Promise founded?
Luxury Promise was founded in 2016.
Where is Luxury Promise located?
Luxury Promise is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Luxury Promise?
Sabrina Sadiq is the current CEO of Luxury Promise. They have also founded this company.
Is Luxury Promise a funded company?
Luxury Promise is a funded company, having raised a total of $18.45M across 7 funding rounds to date. The company's 1st funding round was a Series A of $931.31K, raised on Dec 21, 2016.
What does Luxury Promise do?
Luxury Promise was founded in 2016 in London, United Kingdom, as an online consignment platform focused on pre-owned luxury fashion accessories. Items such as handbags, wallets, jewelry, eyewear, watches, shoes, and apparel are included in the product catalog. A live shopping experience is offered to facilitate customer engagement. The company is co-led by CEO Sabrina Sadiq and co-founder Adam Sadiq.