In an effort to broaden its selection of luxury resale items, Rebag will also buy and sell shoes.
In an effort to provide a broad selection of opulent accessories for both men and women, Rebag is extending its resale offering to include shoes and certain articles of clothing.
Rebag claims that the reseller will now purchase and sell shoes, including loafers, heels, sneakers, and sandals. Additionally, it will sell outerwear from well-known brands like Chanel, Gucci, Hermes, Louis Vuitton, and Fendi, including jackets, vests, sweaters, and sweatshirts. Additionally, Rebag said that for the first time, it would sell products from Adidas, Balmain, Common Projects, Maison Margiela, Manolo Blahnik, Jordan, Yeezy, Rick Owens, and Vetements.Charles Gorra, CEO and creator of Rebag, stated in a statement, “Shoes and clothes are the obvious next step for us after our successful integration of watches and fine jewelry in 2020. “Rebag is the authority and top location for the most sought-after premium goods. We are thrilled to broaden our horizons and provide our clients with additional investment categories. This is something that both our buyers and sellers have consistently requested, and it will enable us to meet a greater proportion of their resale needs.The news of Rebag’s recent cooperation with Moda Operandi, which included a unique digital trunkshow, and the introduction of Rebag Rewards, a multi-tiered loyalty program giving various rewards at various levels, came before the announcement. Additionally, the company has introduced Trade, a service that enables customers to buy and sell things all at once.This new development coincides with a change in consumer purchasing toward used goods. The secondhand market in the United States is anticipated to more than quadruple by 2026 and reach $82 billion, according to ThredUp’s 2022 Resale Report, which was published in May. According to ThredUp’s research, the whole secondhand market increased by 58 percent to $35 billion in 2021 alone. The secondhand market has now grown at its fastest rate in five years.Similar findings from the NPD Group are supported by this data. According to the most recent “Future of Apparel” research from NPD, respondents indicated a rise in clothes internet purchases in the first quarter of 2022. While most secondhand consumers are primarily attracted by reduced prices, design and higher-end brands are becoming more significant. According to the NPD survey, resale websites are popular among younger, Millennial consumers, with 66 percent of those aged 18 to 24 reported doing so.The survey also revealed a rise in interest in using websites that rent out clothing. According to the June Omnibus Survey from NPD, 6 percent of consumers said they would hire their dressy or formal apparel for a single usage for an upcoming social function, with Millennials being the most inclined to do so.
Major retail companies and brands have increasingly joined the secondhand market over the past several years using a range of strategies. For example, ThredUp has relationships with Crocs, Adidas, Macy’s, Target, PacSun, and JCPenney. Neiman Marcus acquired a small investment in Fashionphile in 2019.
Recently, FRWD, Dr. Martens, and Stadium Goods have all introduced reselling initiatives.