The startup specializing in the sale of high-end second-hand products raised 3 million euros from family office HWA and other business angels.
Founded in 2015 by Beverly Sonego, Monogram (ex: ByLuxe) is a Paris-based company specializing in the resale of luxury goods.
The company began as an appointment-based resale service, which later grew to become a reference in the luxury sector.
Monogram's strategy is based on three pillars:
An eco-responsible circular model: this translates into a responsible consumption approach, which aims to extend the life of luxury products by putting them back into circulation rather than throwing them away. This approach reduces the company's carbon footprint and helps preserve the environment.
A committed community: Monogram has built up a loyal customer base and strategic partners who share the company's values. This community is at the heart of Monogram's strategy, which aims to build lasting relationships and create unique experiences for its customers.
A cutting-edge offering inspired by the great luxury houses: its offering is based on a selection of exclusive products, combining rare vintage pieces and IT bags from the great houses such as Chanel, Hermès and Louis Vuitton. This offer is reinforced by expert know-how, enabling the company to offer personalized and renovation services for its products.
Monogram Paris' phygital presence, which combines an online presence via its e-shop and a physical presence via its flagship located in Paris' Golden Triangle, enables the company to offer a unique experience to its customers.
The 160 sq.m. flagship, which opened in December 2022, is designed as a concept store and offers a curation of exclusive products, personalized services and quality expertise.
This round of financing will enable Monogram to accelerate its development and strengthen its technology.