Latest news with #LuxeCollective
Fashion Network
12-05-2025
- Business
- Fashion Network
Luxe Collective shuts down after devastating break-in and stress toll on founders
If you want to see the devastating impact of burglary on fashion businesses, look no further than Luxe Collective. The secondhand luxury fashion business has closed, despite receiving a £100,000 investment just over a year ago. But it also endured a warehouse break-in last July in which half a million pounds worth of stock was stolen — around half of its entire inventory. Following the decision to shut, co-founder Ben Gallagher said on Instagram: 'Luxe Collective is closing down. I never thought I'd have to say this but the company I created seven years ago at just 18 years old will no longer exist. 'After a year-long fight after we were broken into last year, in which both me and my brother were doing all we could just to get us through to the next day, we are no longer able to continue. 'The last year has been the most painful in my life and to be honest, whilst I'm talking to you now, I'm overwhelmed with relief – I've never been so mentally and physically drained, stress and anxious.' He also said the break-in 'ultimately affected my leadership and strategic decision-making'. He explained that the break-in wasn't the only reason for the closure but it was linked because the stress meant he made choices that weren't 'the right ones'. He didn't specify those choices but added that 'I take 100% accountability for this – it's on me'. The business had been set up in 2018 by the Merseyside-based brothers Ben and Joe Gallagher with business partner Oliver Millar also coming on board. They started buying items from eBay and Depop and built up a thriving resale business with a reputation for quality and authenticity. It received the £100k investment for a 3% stake in the firm on the BBC TV show Dragons' Den. Despite the company having shared CCTV video of the robbery, the case was eventually closed with nobody being apprehended. While the company last autumn received an insurance payment to cover the value of the stock and was therefore able to pay out anyone who was selling their secondhand fashion through the platform on consignment, it wasn't the end of the problems. We've already mentioned the stress it brought with it. But just like any second-hand or antiques business, a huge issue is finding the stock to sell and Ben Gallagher had issued a social media appeal asking if anyone has 'anything to sell or might know someone who might have something to sell, go on our website, fill out a form and sell your items to us'. All employees have now been made redundant with Gallagher saying the thieves 'haven't just ruined the company… They've ruined the livelihoods of not just me and my brother, but all the amazing staff that we have had to make redundant and who've lost their jobs in the process.' But in a TikTok video, he also listed the firm's achievements, including creating business that 'was recognised all over the world and got the whole industry talking about us'. And he said the firm generated £30 million+ in revenue from a standing start with zero investment, also achieving over three million social media followers and a billion views. And in a touching moment he said it also strengthened his relationship with his brother.
Scottish Sun
09-05-2025
- Business
- Scottish Sun
Dragons' Den-backed fashion business closes a year after £100K investment from Steven Bartlett as owner blames break-in
A DRAGONS' Den-backed fashion business has closed a year after being given a £100,000 investment from Steven Bartlet. Entrepreneurial brothers Ben and Joe Gallagher founded Luxe Collective in 2018 from their bedroom with nothing to their name. Advertisement 7 Co-founder Ben Gallagher announced Luxe Collective has been shut down 7 The warehouse was broken into in July last year 7 Thugs made off with over £500,000 worth of goods But over seven years they managed to generate over £30million in revenue and become globally recognised with deals in Tokyo, New York, and Milan. Business titan Sara Davies even told Ben and Joe they were too successful to invest in when they appeared on Dragons' Den last year. On the show, Ben revealed he was inspired by his sister's desire for an expensive pair of £400 designer trainers for Christmas. His mum managed to source a pair from an online market place for just £100. Advertisement From then on he poured everything into snapping up second-hand items and selling them on. Steven Bartlett believed in the Merseyside brothers and offered to invest an eye-watering £100,000 into the second hand designer outlet for just three per cent. But disaster struck in July 2024 when robbers raided their Lancashire warehouse and made of with over £500,000 worth of goods. Lancashire Police were unable to track down the thugs and ultimately closed the case. Advertisement After the burglary, Ben told his followers insurance cover had paid out the money lost - but stock was still an issue. And, despite the cash influx from Bartlett, the brazen theft crippled the company, according to Ben. The devastated founder, 25, announced the brand would be shutting down in an emotional statement on TikTok. He revealed all of their employees were now without jobs. Advertisement Ben told his three million followers: "Luxe Collective is closing down. I never thought I'd have to say this but the company I created seven years ago at just 18 years old will no longer exist. "After a year-long fight after we were broken into last year, in which both me and my brother were doing all we could just to get us through to the next day, we are no longer able to continue." 7 The founders appeared on Dragons' Den in January last year 7 Ben told how they started the company from their bedroom Credit: TikTok Advertisement 7 Steven Bartlett invested an eye-watering £100,000 into the second hand designer outlet for just three per cent Credit: Instagram / Luxe Collective The young entrepreneur said the ordeal had left him "mentally and physically drained", and throwing in the towel actually came as a "relief". He also took accountability of the closure and admitted the robbery took a toll on his "leadership" as well "strategic decision making". But again Ben slammed the robbers and said: "They've ruined the livelihoods of not just me and my brother, but all the amazing staff that we have had to make redundant and who've lost their jobs in the process. Advertisement "Although we have failed in succeeding with the brand, there are still things that no one will be able to take away from me." After hailing Luxe Collective, the proud creator added: "But most importantly, I built a relationship with my brother that would never have existed without going on this journey with him. Now, we're both back to square one. "Not left with much except the seven years of priceless experience and a fresh head to start something new with. "To any customers this may affect, please reach out through the appropriate channels, and we will get back to you as soon as we can. Advertisement "To everyone who is reaching out publicly and privately, you don't understand how much it means during a time like this - thank you." A Lancashire Police spokesman confirmed: "This crime has been investigated as far as reasonably possible, and the case has been closed pending further investigative opportunities becoming available."
The Sun
09-05-2025
- Business
- The Sun
Dragons' Den-backed fashion business closes a year after £100K investment from Steven Bartlett as owner blames break-in
A DRAGONS' Den-backed fashion business has closed a year after being given a £100,000 investment from Steven Bartlet. Entrepreneurial brothers Ben and Joe Gallagher founded Luxe Collective in 2018 from their bedroom with nothing to their name. 7 7 7 But over seven years they managed to generate over £30million in revenue and become globally recognised with deals in Tokyo, New York, and Milan. Business titan Sara Davies even told Ben and Joe they were too successful to invest in when they appeared on Dragons' Den last year. On the show, Ben revealed he was inspired by his sister's desire for an expensive pair of £400 designer trainers for Christmas. His mum managed to source a pair from an online market place for just £100. From then on he poured everything into snapping up second-hand items and selling them on. Steven Bartlett believed in the Merseyside brothers and offered to invest an eye-watering £100,000 into the second hand designer outlet for just three per cent. But disaster struck in July 2024 when robbers raided their Lancashire warehouse and made of with over £500,000 worth of goods. Lancashire Police were unable to track down the thugs and ultimately closed the case. After the burglary, Ben told his followers insurance cover had paid out the money lost - but stock was still an issue. And, despite the cash influx from Bartlett, the brazen theft crippled the company, according to Ben. The devastated founder, 25, announced the brand would be shutting down in an emotional statement on TikTok. He revealed all of their employees were now without jobs. Ben told his three million followers: "Luxe Collective is closing down. I never thought I'd have to say this but the company I created seven years ago at just 18 years old will no longer exist. "After a year-long fight after we were broken into last year, in which both me and my brother were doing all we could just to get us through to the next day, we are no longer able to continue." 7 7 The young entrepreneur said the ordeal had left him "mentally and physically drained", and throwing in the towel actually came as a "relief". He also took accountability of the closure and admitted the robbery took a toll on his "leadership" as well "strategic decision making". But again Ben slammed the robbers and said: "They've ruined the livelihoods of not just me and my brother, but all the amazing staff that we have had to make redundant and who've lost their jobs in the process. "Although we have failed in succeeding with the brand, there are still things that no one will be able to take away from me." After hailing Luxe Collective, the proud creator added: "But most importantly, I built a relationship with my brother that would never have existed without going on this journey with him. Now, we're both back to square one. "Not left with much except the seven years of priceless experience and a fresh head to start something new with. "To any customers this may affect, please reach out through the appropriate channels, and we will get back to you as soon as we can. "To everyone who is reaching out publicly and privately, you don't understand how much it means during a time like this - thank you." A Lancashire Police spokesman confirmed: "This crime has been investigated as far as reasonably possible, and the case has been closed pending further investigative opportunities becoming available."
Daily Mail
09-05-2025
- Business
- Daily Mail
Dragons' Den star behind luxury fashion brand which won £100K investment from Steven Bartlett announces shock closure months after devastating stock burglary
A second-hand luxury fashion business has been forced to close just over a year after receiving a £100,000 investment on Dragon's Den after a devastating burglary. Luxe Collective was set up in 2018 by brothers Ben and Joe Gallagher in Formby, Merseyside, and they had found success in recent years in the luxury resale market. The brothers then appeared on the BBC show in January 2024 with co-owner Oliver Millar when entrepreneur Sara Davies said they were too successful to invest in. However they did get a £100,000 investment from Steven Bartlett for just 3 per cent of their business, which was booming as they also became known on social media for sharing fashion stories and helping buyers distinguish between fake and real items. But Luxe Collective suffered a major break-in last July at its warehouse in Ormskirk, Lancashire, as half of its stock was stolen with a value of more than £500,000. They shared CCTV video of the thieves stealing boxes of stock and taking it away, but Lancashire Police eventually closed the case having been unable to find the culprits. The brothers had been desperately trying to continue operating in recent months, but former staff said on TikTok last week that all employees had been made redundant. And Ben Gallagher, 25, has now revealed that the business was 'no longer able to continue' after a year which he described as the 'most painful in my life'. He said: 'Luxe Collective is closing down. I never thought I'd have to say this but the company I created seven years ago at just 18 years old will no longer exist. 'After a year-long fight after we were broken into last year, in which both me and my brother were doing all we could just to get us through to the next day, we are no longer able to continue.' Mr Gallagher wrote on Instagram that he was now 'overwhelmed with relief – I've never been so mentally and physically drained, stress and anxious'. He said the burglary 'not only affected the financial state of the company but also took such an emotional mental toll on me and my brother'. Mr Gallagher told how this 'ultimately affected my leadership and strategic decision making' and he made choices which 'were not the right ones' and takes '100 per cent accountability for this'. He claimed the criminals who broke into the premises 'haven't just ruined the company', adding: 'They've ruined the livelihoods of not just me and my brother, but all the amazing staff that we have had to make redundant and who've lost their jobs in the process.' Mr Gallagher continued: 'Although we have failed in succeeding with the brand, there are still things that no one will be able to take away from me.' He then gave a list of highlights, including how he 'started this brand as a teenager and in the space of seven years it was recognised all over the world and got the whole industry talking about us'. Mr Gallagher said the company generated over £30million in revenue from 'starting in our bedroom with £0 investment' and it took him to cities including Tokyo and New York as well as fashion shows such as Valentino and Hugo Boss in Milan. He added that he reached more than three million followers and one billion views on social media. Mr Gallagher concluded: 'But most importantly, I built a relationship with my brother that would never have existed without going on this journey with him. Now, we're both back to square one. 'Not left with much except the seven years of priceless experience and a fresh head to start something new with. 'To any customers this may affect, please reach out through the appropriate channels, and we will get back to you as soon as we can. To everyone who is reaching out publicly and privately, you don't understand how much it means during a time like this - thank you.' A Lancashire Police spokesman told MailOnline today: 'This crime has been investigated as far as reasonably possible, and the case has been closed pending further investigative opportunities becoming available.' Luxe Collective was set up in 2018 and had found success in the luxury resale market On Dragons Den, it was revealed how the brand had amassed an estimated worth of £5million since the brothers started the company in a bedroom at home in Formby. Mr Gallagher told the judges that his sister had wanted a pair of £400 trainers for Christmas, and he was impressed when his mother found a second-hand pair online for £100. He explained that he became 'obsessed' with the website his mother had bought them on – so, using savings and part of a car loan, the brothers started buying up items from eBay and DePop. As the business grew, the brothers also dedicated time to using social media to share fashion stories and now have 665,000 followers on Instagram and 1.7million on TikTok. Davies had told them on the show: 'You can scale this business without anyone coming in. I'm sat here thinking 'Would I like a chunk of this business? Absolutely! 'But then I feel like you'd resent me because I'd want such a significant chunk of your business to just tell you to keep on doing what you're doing.' They did eventually get an investment from Bartlett. MailOnline has contacted the entrepreneur for comment.
Fashion United
09-05-2025
- Business
- Fashion United
Resale platform Luxe Collective to shutter
British resale platform Luxe Collective has announced plans to close down its business just seven years into its lifespan. The news comes almost one year after the company faced a break-in at its warehouse, where it was reported that over 500,000 pounds in stock was stolen. Luxe Collective revealed it was closing down on its official Instagram page, where it stated: 'After a year long fight after we were broken into last year, in which both me and my brother [co-founders Ben and Joe Gallagher, ed.] were doing all we could just to get us through to the next day. We are no longer able to continue.' The statement continued: 'The last year has been the most painful in my life and to be truly honest, whilst I'm talking to you now, I'm overwhelmed with relief – I've never been so mentally and physically drained, stressed and anxious.' 'We are no longer able to continue' The Gallagher brothers founded Luxe Collective in 2018 on the basis of offering a re-commerce site for rare and vintage pieces. Its appeal was bolstered when the co-founders appeared on the BBC TV show, Dragon's Den, where they managed to secure a 100,000 pound investment in exchange for a 3 percent equity stake from entrepreneur Steven Bartlett. In July 2024, however, the company took a significant financial hit when its warehouse was robbed by what was believed to be a professional group that was said to have stolen around 500,000 pounds worth of luxury products, representing about 50 percent of what Luxe Collective owned. At the time, it was reported that a blind spot had been identified in the company's security. In response, Ben Gallagher said: 'The break in not only affected the financial state of the company but also took such an emotional mental toll on me and my brother, which ultimately affected my leadership and strategic decision-making. I made a decision that, in retrospect, I regret – they were not the right ones. I take 100 percent accountability for this – it's on me. "The criminals who broke in haven't just ruined the company. They ruined the livelihoods of not just me and my brother, but all the amazing stuff that we've had to make redundant, and who have lost their jobs in the process."
