How to Add Pre-Owned Luxury to Your Assortment
HOW TO LAUNCH VINTAGE LUXURY
So, you’ve decided to add designer consignment to your contemporary mix. Congrats! It’s no secret that social media influencers, TikTok trendsetters, and celebrities ensure luxury handbags and accessories by Louis Vuitton, Gucci, and Dior are in your face more than ever before—and that means demand for designer resale is about to reach a boiling point. Right now, the global luxury market is growing four times faster than the primary luxury market, it’s dominated by the secondhand buyer, and it’s on fire.
Demand for vintage and secondhand designer items has risen in the past few years due to sustainability concerns, fashion flashbacks, uniqueness, and the high price of brand-new items—especially during a pandemic.
ACCESS TO GOODS
If you live in an area where the locals are not consigning authentic Louis Vuitton Speedy Bags, Lady Dior Bags or Gucci Belts, LePrix Wholesale can open so many doors to the next level of luxury.
With new platforms opening up the vintage landscape, the ways to shop and sell have changed for the better. Designer resale is the NEW black and no matter where you’re based, you have access to whatever items your heart—or your customer’s heart—desires.
LUXURY CONSIGNMENT IS HOT!
In 2020, five luxury fashion brands landed in the top 10 of the most searched apparel lines according to Brand Directory, and they are: Gucci, Louis Vuitton, Cartier, Chanel, and Hermès. Now, imagine how much your business would benefit from having just one of those brands listed on your site—not to mention something as in-demand as a pre-owned Louis Vuitton Neverfull or a vintage Chanel Classic Flap bag!
With millions of fabulous luxury items just waiting to be rediscovered and loved again, and the timelessness and durability of these goods, we think they’d make the most amazing addition to your consignment boutique.
GETTING STARTED WITH VINTAGE LUXURY
How should you approach luxury consignment? And which brands and products should you sell first?
According to Jeanette Oh, LePrix’s Wholesale expert…you should never worry about whether you have the correct customer base for the following items because the answer is always YES! You see, most women want a little slice of luxury in their life, but they just don’t think it’s attainable—nor do they know where to find it. Designer resale is the perfect opportunity to introduce a new and enjoyable experience with your shoppers.
It’s important you start with some of the most recognizable brands like Louis Vuitton and Gucci, that way you’re sure to make an impact. Then announce your new venture to your customers so they know you’re selling luxury resale items. And once you establish a stronger customer base, absolutely reach for Chanel and Hermès!
THE DESIGNER GOODS
To get started, stock up on a few in-demand designers (like Louis Vuitton and Gucci) and simpler pieces. Basic is your best bet so we’d suggest the Louis Vuitton Neverfull MM, the Speedy 30-35, Gucci GG Supreme Messenger bag or a Prada nylon backpack. For LV and Gucci, stick to monogram at first and then branch out as you grow your customer base. Customers will probably tell you what they wish you had in store and you can use that as an opportunity to build their wishlist and give them what they want.
PRO TIP: When you secure a wishlist item that is remarkable, don’t forget to post it to your social media so people can see what’s in store!
Small leather goods, like a Gucci wallet, are luxury gateway pieces. But don’t focus exclusively on small leather goods — just think of them as an investment to hook an aspirational customer. Variety is key so also sprinkle in some Chanel card cases, designer necklaces, and coin purses too.
If you’ve yet to establish yourself as a luxury reseller, people will question the authenticity of your items, so please don’t forget the Certificates of Authenticity to build trust and confidence. Plus, it’ll keep you protected if someone really feels like you sold them a dud.
Interested in learning more? Contact us email@example.com for more info.