We cannot imagine our success without Penbrothers. They have been our trusted partner every step of the way. When we needed to expand our team, they helped us grow. Thanks to their partnership, we achieved a solid balance sheet and profitability, ultimately leading to our acquisition by Farfetch Group in 2021. We couldn’t have done it without our team Penbrothers made in the Philippines.
LUXCLUSIF is a B2B service provider offering a turnkey solution for the acquisition, authentication, and sale of second-hand luxury goods. Its successful solution caters to auctions, retailers, e-commerce platforms, and stores worldwide. In 2021, FARFETCH acquired Luxclusif with the objective of leveraging its capabilities and positioning to become the leading global platform for pre-owned luxury for both customers and industry partners.
Bootstrapping Strategy
Luxclusif is considered a startup in the luxury fashion market. They faced challenges and were in a bootstrapping* stage when they first partnered with Penbrothers. To expand its operations while making sure they keep costs down, Luxclusif turned to the Philippines to experiment with its affordability and access to highly-skilled talent.
Luxclusif needed a partner to help them navigate the process of building and managing a remote team in the Philippines so its leaders can focus on growing its business and innovation.
*Bootstrapping in business means using only existing resources (such as personal savings or garage space) to start and grow a company.
Luxclusif tapped into the affordable talent pool in the Philippines through Penbrothers – costing them very little in terms of both money and time. We handled everything HR and talent acquisition: from sourcing, hiring, and job offers to payroll, tax and compliance, benefits, and retention. All Luxclusif had to do was share their requirements with us, assess the candidates, and voila! Their operations are up and running.
We also took it upon ourselves to shoulder the HR tasks involved in employing Filipino talents. These tasks include payroll, benefits, tax and compliance, and engagement for retention. We helped Luxclusif save time and resources by taking care of the end-to-end HR functions.
Penbrothers enabled Luxclusif to access top-skilled and affordable Filipino talent, allowing Luxclusif’s logistics, finance, and technical teams to scale. Talents hired by Penbrothers also grew with the company and took on more responsibilities as Luxclusif expanded its business.
Because of Luxclusif’s successful scaling and cost management, it was then acquired by Farfetch Group in 2021.
Our partnership with Luxclusif enabled them to save an average of 78% of the cost per role.
Together with Luxclusif’s leaders, we carefully mapped out their needs in terms of skills and figured out how much of their budget could be allocated to their remote team members. This kind of transparency and collaborative nature enabled business growth for Luxclusif which led to a solid balance sheet and profitability.
Because of their increasing workload, The LOTE Agency partnered with Penbrothers to scale quickly with cost-effective Filipino talent. This partnership saves them an average of 75% of the total employee costs.
KP Staffing struggled with rising labor costs and finding qualified talent within their budget, affecting service delivery and customer satisfaction. By offshoring staff to the Philippines, they secured top talent while reducing overhead costs.
What started as a partnership for only 1 talent, Tiney's team in Penbrothers grew to include various roles from different departments - enabling them to expedite their operations.
