Written by Jason Phillips
How a Dubai-Based Platform is Shaping Circular Style and E-Commerce
Over the past few years, the fashion world has come to a defining crossroads. With consumers calling for more transparency, sustainability, and ethics, platforms and brands have had no choice but to adapt beyond the realm of aesthetics. Luxury fashion, previously defined by exclusivity and artisanship, is now being reframed by accessibility and environmental awareness. The secondary market, especially for designer products, has boomed in terms of popularity and cultural significance due to changing consumer values and the online revolution in shopping trends. As per studies released by Boston Consulting Group and Vestiaire Collective, the worldwide secondhand luxury market had a value of more than $40 billion in 2024 and is likely to grow to $60 billion by 2029, with an annual growth rate of between 10 and 15 percent.
One of the names emerging in this space is Libas Collective, a certified pre-owned luxury fashion platform founded in Dubai by entrepreneur Ivan Todorov. Launched in 2022, the company has grown into one of the Middle East’s most recognized names in sustainable luxury commerce. Built on a marketplace model, Libas Collective connects buyers and sellers across the globe, offering authenticated fashion items ranging from handbags and clothing to watches and jewelry. The platform is bilingual, operating in both English and Arabic, and supports a wide range of currencies, including AED, USD, and EUR, reflecting its international scope.
The company has built a three-stage verification process that includes expert physical evaluations, independent automated checks, and a final in-house inspection. Items that pass the process receive a lifetime certificate of authenticity. While not every product is subjected to the full verification—those under 500 euros or from trusted professional sellers may be exempted—high-value items typically pass through one of two inspection hubs located in Dubai and Sofia, Bulgaria. The Sofia center serves as a strategic point for European operations, allowing for customs efficiency and faster processing.
At its core, Libas Collective positions itself at the convergence of fashion, sustainability, and modern commerce. It operates with a business model that forgoes direct inventory ownership, instead relying on commission from successful transactions. The company’s platform allows both casual users and professional resellers to list products freely. Libas Collective earns revenue through a 10 percent commission shared equally between buyers and sellers, along with a 3 percent transaction processing fee. This system aims to democratize luxury shopping while also promoting circular fashion practices.
The rise of Libas Collective is concurrent with increasing regional demand for more mindful consumerism. The United Arab Emirates is now a center for both high-end shopping and eco-innovation. By embracing this changing market, Libas Collective has positioned itself as “your luxury closet,” a slogan that captures its mission to make high-end fashion accessible without sacrificing style or values. The brand highlights the feeling that “true luxury is knowing what you want—and getting it,” hinting at an affective dimension in the way people engage with the brand and its products.
The size of Libas Collective’s inventory is a testament to its engaged and expanding user base. During peak periods, the site has had about 50,000 listings featuring everything from vintage antique items to new seasonal drops. Some of the highlights include high-end collector items, such as a Hermès crocodile leather handbag with an estimated resale price of over $250,000. These big-ticket pieces are a fraction of the overall platform’s traffic but reflect the extent of trust and demand it has built within high-end resale.
Libas Collective’s logistics operations are streamlined to meet global and regional needs. When a product is sold, the platform facilitates pickup and shipping through partnered couriers. Sellers are provided with prepaid waybills and are responsible for packaging and dispatching the items. Buyers may receive products either directly, especially in cases where seller credibility is already established, or via the inspection centers. Shipping within the UAE is generally free, while international deliveries depend on the seller’s status and country of origin. For professional sellers, shipping costs are waived regardless of location.
While the company initially focused on the Middle Eastern market, its infrastructure has enabled rapid international expansion. Buyers and sellers can transact across borders with minimal friction. This model has allowed Libas Collective to become a global platform with a strong regional identity. Its headquarters are located in Dubai’s Business Bay, a prominent commercial district. Although the office is currently undergoing renovation, Todorov plans to convert the reception area into a boutique showroom for VIP clients interested in high-end consignment goods, which are available by appointment only.
Ivan Todorov, the founder of the company, also led the building of the Subway franchise business in Bulgaria and Romania earlier. After moving to the UAE, he started luxury resale as a response to seeing a gap in bringing technology, fashion, and sustainability together with a scalable digital model. Todorov’s entrepreneurial experience shaped the architecture and operational effectiveness of the platform, especially in features such as user experience, verification processes, and global logistics.
With luxury becoming increasingly part of mass fashion and consumers looking more for sustainability options, resale sites are ready to be a major force in retail’s future. A survey by Bain & Company reported that nearly 60 percent of luxury consumers under the age of 35 have resale sites as part of the core luxury business. This group is also more likely to find merit in ownership cycles that go beyond the original point of sale.
As the platform develops, its contribution to forming the Middle East’s strategy towards sustainable luxury seems more and more important. Libas Collective not only brought consumers a new model for shopping for designer products but also helped change the way fashion value is considered and sustained over time. Its authenticity-based business model—constructed on transparency and global accessibility—is indicative of an increased desire for fashion experiences that are both consonant with personal style and consonant with wider ethical sensibilities.
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