Luxury e-commerce is booming, with Australia accounting for half of Azura's sales

Azura Consulting is an Australian technology-driven fashion retailer that provides a curated luxury and fashion e-commerce platform. The founders of Azura Consulting built a data creation and inventory management system that connects fashion inventory to more than 100 online marketplaces around the world.

Sam Wood and Tim Bloom said the company, which was founded in Sydney just 18 months ago, has seen revenue grow 34% month-on-month and is expected to reach $3 million in revenue this year, with a small portion of that coming from its e-commerce site Azura Runway.

Azura Runway is an Australian online luxury fashion retail platform that sells products from thousands of brands . Its mission is to become a global luxury fashion supplier.

It is understood that the first iteration of Azura Consulting was an easily replicable business model, but they embarked on technology development shortly before the pandemic. Wood said: " With access to industry-leading AI and machine learning, Azura's platform instantly manages 150,000 products from more than 1,200 brands and integrates directly to bring these products to these e-commerce markets . "

Azura 's omnichannel sales minimizes reliance on one channel, reduces marketing costs, and is powerful and reliable. Today, the Australian market accounts for about half of Azura's sales , and it sells supplier inventory through 10 domestic e-commerce marketplaces.

According to Wood : “We are currently growing at approximately 34% per month, and as the business continues to grow, the company will have more markets and suppliers. ”

The impact of the pandemic , coupled with the younger generation ’s growing focus on luxury consumption, will drive the success of global e-commerce platforms for luxury fashion .

Last year, online sales of luxury goods grew at a rate equivalent to five years’ growth , with market share doubling from 12% in 2019 to 23% in 2020, according to Bain research.

Previously, Luxe Digital estimated that by 2025, nearly one-third of global luxury sales will be conducted online. This shows that luxury e-commerce is in a stage of vigorous development, and as the penetration rate of e-commerce continues to increase, Australian online luxury goods may continue to flourish.

Australia

E-commerce

Luxury

Fashion