Laxus Technologies

About Laxus Technologies

Laxus Technologies Inc., established on August 31, 2006, operates a specialized sharing service centered on luxury brand handbags. The company, founded by Shoji Kodama, provides a subscription-based platform where consumers can rent from a curated collection of high-end bags. Currently led by President and CEO Keisuke Takahashi, the firm has solidified its position in the Japanese market and is listed on the TSE Growth market under the symbol 288A. A significant milestone occurred in October 2019, when World Co., Ltd., a major apparel company, acquired a majority stake, becoming the parent company.

The business model targets consumers, primarily women in their 20s to 50s, offering them access to luxury goods without the high cost of ownership. Revenue is generated through a flat-rate monthly subscription fee. The primary offering is the 'Single Plan' which allows a user to rent one bag at a time, with the option to exchange it for another as desired. For more avid users, a 'Double Plan' is available, permitting the rental of two bags simultaneously. The service is delivered through a dedicated mobile application, streamlining the user experience from selection to delivery and return, with round-trip shipping included. The platform also presents an opportunity for customers to purchase bags they have rented and enjoyed.

Laxus Technologies manages an inventory of approximately 40,000 bags from about 60 globally recognized luxury brands, including Hermès, Louis Vuitton, and Chanel. The company sources these items mainly from second-hand dealers and auctions, ensuring their quality and longevity through an in-house team of maintenance specialists. This operational approach supports a sustainable model by extending the lifecycle of luxury goods and reducing waste, moving from a model of ownership to one of sharing and reuse. The company has also developed a B2B/C sales channel, leveraging its market data to sell bags to the most suitable outlets, such as reuse shops and auction sites. In a move to expand its market reach, Laxus has partnered with World Group to launch 'BAGSHARE by WORLD,' a joint service leveraging World's customer base.