HONG KONG,CHINA - Media OutReach - October 29, 2019 - My Fashion Republic Group, Australia's leadingonline retailer of luxury products headquartered in Sydney, today announcedthat it has signed a definitive agreement to acquire Luxify.com, Asia's leading online marketplace for luxury. 

Luxify.com, launched in 2013 in Hong Kong, hasbeen the favourite destination for luxury in Asia, connecting luxury shoppersin Asia with leading luxury brands and dealers around the world. 

"As part of My Fashion Republic Group's continuing expansion, theacquisition of Luxify.com strengthens our position in thefast growing online luxury sector and will accelerate our growth plans in Asia"said Pierre-Axel Paoli, Co-Founder and CEO of My Fashion Republic Group. 

"This is a landmark day for Luxify. In just over five years,Luxify has grown from a simple idea into one of Asia's leading luxurymarketplace. We have built a thriving community of luxury buyers in Asia,offering them the Internet's largest online inventory of luxury products andexperiences from leading luxury brands and dealers exceeding US$ 80 billion invalue. The online luxury market in Asia is growing, but the rules of the gameare changing rapidly. Joining My Fashion Republic Group's eco-system will benefit ourmembers by providing them with easier and safer access to leading luxury brandsand services. " said Alexis Zirah, Co-Founder of Luxify.com. 

Online luxury sales now accounts for more than 10% of all luxurysales worldwide and the online channel is expected to grow significantly fasterthan traditional channels to represent more than 25% of all luxury sales by2025. Asia is and will remain the growth engine for luxury online. Thecombined technologies of both companies including blockchain powered productauthentication technology will further address consumers' needs who areincreasingly shopping online for luxury goods or experiences. 

"Luxify is now the online go-to destination for luxury enthusiastsand collectors in Asia. Digital is happening quickly and forcefully in ourindustry and we are excited to be part of My Fashion Republic Group as we sharea common vision of providing easy, safe and reliable access to the luxurymarket." said Florian Martigny, Co-Founder of Luxify.com. 

About MY FASHION REPUBLIC GROUP

MY FASHION REPUBLIC GROUP's vision isto make luxury accessible. The company operates COSETTE.COM.AU, one of Australia's leading online retailers for luxury fashion and accessories aswell as a Duty Free flagship store in Australia offering a wideselection of topbrands fashion items at discountedprices. The company is also developing, TRUSTLUX, a cuttingedge blockchain powered product authentication technology and service platformfor the luxury industry. 

About LUXIFY.COM

Luxify is Asia's leading luxury marketplace.Headquartered in Hong Kong, Luxify is Asia's go-to destination for luxury enthusiastsand collectors. From supercars to luxury watches, handbags to rare antiques; onLuxify, consumers can access one of the Internet's largest collections ofluxury products and experiences for sale from the finest luxury brands anddealers around the world.