High-End Vintage and Antique Site Ruby Lane Declines Paycheck Protection Loan

SAN FRANCISCO, May 12, 2020 /PRNewswire/ -- The world's largest curated online marketplace for vintage and antiques, rubylane.com, declined a six figure Paycheck Protection Program forgivable loan today.

"Frankly, we just felt it was better to let other businesses that are under severe economic hardship have access to our allotted amount," said Tom Johnson, President and CEO of Ruby Lane.

Like many small businesses, when the pandemic shuttered most of the world, Ruby Lane feared it would have to pare down its staff to remain viable in the marketplace.

"As it turns out, we have been very fortunate through this global crisis to remain fully operational and doing robust sales on the platform," explains Johnson. "The distribution channels our sellers use have remained largely unaffected, which was one of our major concerns a few months ago. As for our staff, we have been working from our home offices, all over the world, for more than 20 years, so stay-at-home is part of our company culture."

Over the past two months, Ruby Lane has seen a significant increase in sales and new sellers opening online shops. "Many brick and mortar shops are adjusting to the 'new norm' and adding online shops to complement their marketing strategies," explained Johnson. "We have honed and increased our marketing budget and campaigns, reduced April and May seller fees, developed new partner supply platforms, and are expanding our customer support team to make this difficult time as simple as possible for our buyers and sellers."

"We anticipate we are going to see continued growth in sales of vintage and antiques online," says Johnson. "Now more than ever, buyers are looking for items that rekindle fond memories of years past. Plus many shoppers are focusing on the environment and shopping for quality items that reduce the impact on natural resources." 

In addition to turning down the Paycheck Protection Program loan, Ruby Lane wants to support and help the Feeding America Covid-19 Response Fund. So, from May 15th - 18th, the site is holding a special Ruby Red Tag 30% Off Sale with 1% of the sales going to this fund.

"If we all work together, help where we can, support small businesses, and above all ensure our family, friends and coworkers remain healthy, we can successfully navigate this crisis together," says Johnson.

Ruby Lane
Founded in 1998, Ruby Lane is headquartered in San Francisco, California and is privately owned by its Founder and President/CEO Tom Johnson.

Ruby Lane is the premier curated online shopping destination for Vintage Collectibles, Antiques, Dolls and Jewelry. Ruby Lane is connected to shoppers looking for quality items that reduce the impact on natural resources, are supportive of small businesses, and engaged in sharing and giving back.

Ruby Lane is a trusted online marketplace that hosts more than 2,000 individually-owned shops with a collective inventory of more than 550,000 items.

For additional information, visit www.rubylane.com.

SOURCE Ruby Lane

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