Rest of 99% Can Now Buy a Pre-loved Louis Vuit­ton Bag

Star­tups of­fer­ing plat­forms where users can sell off lux­ury pos­ses­sions

The Economic Times - - Disruption: Startups & Tech - Shilpa.El­iz­a­beth @times­group.com

Chen­nai: Not sure about what to do with that Karen Millen dress or Louis Vuit­ton shoul­der bag that has been re­main­ing in your wardrobe unused for long? How about sell­ing it off to make some quick money?

As the as­pi­ra­tions of the mil­len­nial crowd ex­plore newer hori­zons, lux­ury prod­ucts find their way some­times in to un­wel­come wardrobes, due to im­pul­sive buy­ing or peer pres­sure. Hav­ing spent a few good thou­sands or lakhs on them, dis­card­ing them would be heart-break­ing. But there might well be an­other way, with a bunch of star­tups of­fer­ing plat­forms where the user could sell off his/her lux­ury pos­ses­sions.

Delhi-based Con­fi­den­tial Cou­ture has seen a good num­ber of sellers not just from met­ros, but even from smaller cities like Coim­bat­ore, Ludhiana, Kan­pur and In­dore. “In a day we get about 30 queries from sellers. We start from Michael Kors and above and don’t ac­cept any­thing lower,” said An­vita Mehra, founder of the com­pany. “We are fa­cil­i­tat­ing ac­cess to in­ter­na­tional de­sign­ers, if not first-hand, then sec­ond-hand. It’s like re­cy­cling lux­ury. You get the feel good fac- tor of the lux­ury prod­uct at a dis­counted price,” she added.

The prod­ucts, which are picked up from the sellers af­ter be­ing given an es­ti­mate price, go through a se­ries of au­then­ti­ca­tion and con­di­tion­ing pro­cesses, and get listed on the web­site at dis­counts rang­ing from 30-90%.

“Ini­tially, when we started off, we were do­ing five-six sales a week. To­day we are do­ing nine-10 sales a day. We are look­ing at a 4045% in­crease ev­ery month in the num­ber of sales,” noted Mehra. Dim­ple Mir­chan­dani, founder of Delhi-based Se­cret Dresser, feels that the busi­ness model would not just help in­crease rota- tion in­side the mar­ket, but would also “help the planet by re­duc­ing wastage and cut­ting down pro­duc­tion by a bit.”

“When I launched the web­site, we had more sellers than buy­ers. We have even had repet­i­tive sellers who have sent around five dresses within two months,” she said.

The prod­ucts which are sold at 50-60% of the re­tail price mostly find buy­ers from the 18-30-years age group. Ad­her­ing to its name, the startup also tries to main­tain se­crecy re­gard­ing seller and buyer in­for­ma­tion. “You don’t want any­body to know it’s sec­ond-hand. So no­body will ever know who bought and who sold it,” Mir­chan­dani said.

Chen­nai-based HiFlame14.com, which plans to roll out its lux­ury sell­ing and buy­ing fea­ture in a cou­ple of months, car­ried out a sur­vey in col­lab­o­ra­tion with the stu­dents of Na­tional In­sti­tute of Fash­ion Tech­nol­ogy to find out that 70% of most wardrobes re­mained unused.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.