SACLÀB, a Munich-based online marketplace for buying and selling pre-loved super luxury handbags, has secured €1.6 million in its first seed round from Estonian VC Trind Ventures (also backed Webel) and Germany’s G-Fund.
The company will use the funds primarily for marketing, HR, and tech infrastructure to expand these areas in a scalable way.
“We are very happy about the seed round and the entry of the two VCs. Their expertise is exactly what we need to take SACLÀB to the next level. Trust and commitment are our top priorities when selecting investors. You always think investors might want to take over leading the company, but that’s not the case. Above all, we wanted investors who shared our point of view. So we were not only able to increase our capital, but also benefit significantly from their expertise and network,” says Alexandra Stück, co-founder of SACLAB.
“The challenge is to make all these investments profitable so that we remain as sustainable as possible. A lot of companies just burn through the money and rely on investment from day one. We don’t want that setup,” explains Jan-Oliver Stück.
Helps finding hard-to-find designer bags
Founded in 2018 by siblings Alexandra and Jan-Oliver Stück, SACLAB is an online marketplace that specialises in hard-to-find super luxury bags.
According to the company’s claims, Handbags are not traded directly by the community – instead, SACLÀB offers a curated product portfolio and a 360° concierge service for sellers. The whole experience is tailored around the client.
“You don’t just buy a designer handbag at this price point. It is important to us to equip buyers with all the information they need and to offer the level of service our products deserve. In addition to virtual advisory appointments, we have also integrated our customer service with a live chat from the very beginning,” explains Jan-Oliver Stück.
For the first three years, the company ran completely independently through bootstrapping, claims the company.
“When we first founded the company, it was particularly important to us to build a business model that we could scale step by step. That’s why we didn’t spend our budget on big PR and marketing measures at the beginning. This has allowed us to achieve organic, healthy growth across many different areas,” explains Jan-Oliver Stück.
In the summer of 2022, the German company sold the most expensive handbag ever listed in Germany for €265,000, a rare exotic leather Hermès Birkin 20 Faubourg Sous La Neige.
“We are planning our soft launch in the U.S. this year and creating an online storefront. Besides that, we have many UX/UI improvements coming up to make the selling and buying experience even more smooth and more fun,” Alexandra Stück adds.