Aucnet consolidates subsidiaries, changes trade name to CircLuxe

AUCNET INC. (TSE:3964) announced a strategic absorption-type merger effective July 1, 2025, to streamline operations and boost its Fashion Resale Business. Defactostandard, Ltd., will merge into GALLERY RARE Ltd., with GALLERY RARE as the surviving entity. Simultaneously, the surviving company will rebrand as CircLuxe Inc., a name combining "Circular" and "Luxe" to reflect its commitment to both the circulation of goods and the delivery of quality items. The merger aims to reduce operational redundancies and costs by integrating the resources, expertise, and channels of both companies. As the merger involves only wholly-owned subsidiaries, there will be no allocation of shares or other compensation. Post-merger, CircLuxe Inc. will continue the business of purchasing and selling luxury brand items and apparel with a capital of JPY40 million. Aucnet anticipates minimal impact on its consolidated results due to this reorganization. Yasuto Saito will be the Representative Director and President & CEO of CircLuxe Inc.