Britain's Sellier Knightsbridge has announced the acquisition of luxury resale platform Worn in a bid to become the country's leader in the field.

The merger of the two businesses, which both cater to affluent clients, will be accomplished through an asset sale for cash.

According to a press statement, the arrangement would see the onboarding of Worn's customers and sellers into the Sellier platform, expanding the latter's sales by about 25% in the ensuing year.

Bella Buchanan, CEO of Worn, said that she is excited that Worn and Sellier Knightsbridge have joined forces. They are two businesses working together to give customers the finest resale experience possible.

Buchanan added that Worn's primary goal was to help the fashion industry transition to a more sustainable model and this relationship allows them to extend that aim even further. She really feels that their combined strength is greater, and she can't wait to see what this next chapter holds.

2019 saw the founding of Sellier, which currently has physical locations in Monaco and Knightsbridge in addition to its online presence.

The platform's supply of rare modern and vintage items contributes to its reported double revenue growth on an annual basis since its start and makes it exceptionally successful.

The company predicted that as the luxury resale market expands in 2023, its revenue will increase even further, reaching upwards of 20 million pounds.

Hanushka Toni, the founder and CEO of Sellier, said that resale market consolidation is about so much more than just growing. Smart-scaling has always been at the core of my ambition for Sellier in a field crowded with amazing firms that are each redefining sustainability in their own unique manner. Building a product whose definition is the pursuit of the best-in-class resale while never sacrificing quality or curation

Sellier added that it has plans to continue its expansion through new sites, supported by Worn's retail space in Belgravia, as well as through new purchases as part of the Sellier Group in the upcoming year.