TrueFacet Founders Turn Their Love For Watches Into A Perpetual Web3 Business
Founders Robert Koptiev(Left) and Raj Seecharran(Right) of TrueFacet
By Cassell Ferere originally published on Forbes.com
TrueFacet is the online marketplace for selling and buying pre-owned jewelry and luxury accessories. The luxury resale market has gravitated to specific items like Hermes bags and Rolex watches, while even sneakers have the cache that traditional luxury goods garnered. Through transparency, TrueFacet takes new steps into Web3 retail while expanding its inventory.
As online luxury continues to surge, TrueFacet, a leading digital luxury marketplace, has announced changes to its platform that will cater to customer needs as they reach a larger vintage-hungry audience. With a new iOS app and handbag category, TrueFacet has developed its Web2 presence to harness trends. Proactively, TrueFacet has branched into Web3 services for the next generation of consumers.
Rolex Oyster Perpetual.
COURTESY OF TRUEFACET
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With new cryptocurrency checkout features, and blockchain authentication technology and services, TrueFacet aims to corner the resell market for luxury watches, jewelry, and handbags as of recent. Management changes have also occurred, as the new CEO, Raj Seecharran, and his team have been instrumental in implementing the updates to the brand.
As the CEO of TrueFacet, Raj Seecharran, is also the co-owner and a technologist whose prior experience includes investment banking, e-Commerce, wholesale, and jewelry retailing. Seecharran was born in Guyana, South America, and raised in the Bronx, New York. Getting a taste for watches early on in his adulthood, Seecharran recalls his first watch that his future wife would gift him at the age of 19.
“I love watches and mixing and matching my collection based on the day, occasion, or event. I still own the first watch my wife gave me when I met her at 19. Before that, I couldn't afford it, nor was I into it, to be honest. For me, a watch is always a staple. I always loved watches and it became an addiction of mine to learn everything and anything about the jewelry business,” Seecharran details.
Starting his career in investment banking, in the technology sector, Seecharran simultaneously was growing his presence in the jewelry industry. “I stumbled into tech as an intern at Merrill Lynch, then began a consulting career working at other [Investment Bank] firms such as Goldman Sachs, Citi Group, Bank of America, and then settled with Barclays Investment Bank as an employee.”
Seecharran learned the essence of retail operations as an investment banker and saw an opportunity for innovation and entrepreneurship in the jewelry industry. “I was with Barclays a little over 13 years until I was able to break out and sustain a life as an entrepreneur in 2019,” he details.
“I was able to manufacture an amazing career in investment banking while building my footprint in the jewelry industry,” he says. “[This] culminated into the acquisition of my business partner, Robert Koptiev’s, TrueFacet [company] back in 2020,” Seecharran mentions, recalling the moment as a revelation that was nurtured through his own experience collecting watches.
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