Kunal studied Economics and Computer Science at University of Wisconsin – Madison, dreamt of working at Microsoft, but soon after joined his family business where he spent 6 years helping transform a homegrown brand
into one of the country’s fastest growing sports footwear companies with operations in China and India.
In 2007, Kunal put work on a hold to get an MBA at INSEAD. The global experience and outlook impacted him to seek a job outside of the family business. In 2010, he started working on a management track for Louis Vuitton as a Sales Manager at The Mall of Emirates boutique, one of the busiest stores in the world. While working for a corporation was a great learning experience, it was different from his goal, which was to create an amazing customer focused company. In 2011, he left Louis Vuitton to start working on The Luxury Closet, a marketplace for luxury preowned items.
The company started in his own apartment, with his own capital, however, once there was measurable traction, Kunal raised his first round of angel capital from friends and Middle East Venture Partners. The growth since
then has been a transformative experience. The Luxury Closet now has close to 80 employees, across 3 countries (UAE, India and KSA) and raised over $10m from leading regional investors like MEVP, Wamda Capital and Two Four 54.
The Luxury Closet is the leading Dubai based regional marketplace to buy and sell luxury items like handbags, clothes, watches and jewelry from top luxury brands like Louis Vuitton, Chanel, Cartier and Rolex. The site now
features the largest luxury catalogue in the region with 15000+ unique styles, and customers from over 40 countries each year.
The Luxury Closet is a successful localization of a fast scaling global preowned market place model with many unique innovations. The company offers localized delivery and payment options like installment purchases, click & collect and personal delivery. It also has a VIP concierge service that offers a white gloved service for item collection in UAE and KSA. The Luxury Closet now brings online over 3000+ unique items a month from sellers across the world, valued at over $1.5m a month. At an average order value of $600, the site has an engaged and high spending fan base, where 33% of the customers return to make at least a second purchase within 12 months. The business runs on technology developed in-house, and has a built strong IP in the form of item valuation database and authentication guidelines that forms a core of the business.
Kunal can be reached at email@example.com