Around 50 percent of Luxe Collective stock stolen from warehouse

Co-founder and chief executive officer of pre-loved luxury platform Luxe Collective, Ben Gallagher, has revealed that around 500,000 pounds worth of the company’s stock has been stolen from its warehouse. According to Gallagher, the amount of product stolen makes up about 50 percent of the company’s entire owned stock.

It appeared that the robbery took place over the weekend, with Gallagher being informed of the loss on Monday [July 22] by his brother, Joe. It comes despite the warehouse being fitted with several cameras, alarms, locks and sensors, which didn’t detect any “unusual activity”, suggesting “meticulous planning and careful preparation”.

Gallagher continued: “For the last six years, me and my brother have worked tirelessly to build this brand and dedicated our lives to its growth. But as a business that operates on such [a] quick turnaround of product and sales, due to the nature of our model, this is absolutely devastating for us.”

The co-founder said that the company had notified all customers and stakeholders that had been impacted by this, and it will keep “everyone updated with what we know as soon as we know”. He reaffirmed: “This will not stop us, This will make us stronger and we will get through this.”