BAG A BARGAIN
The discount store that sells second-hand designer bags and even takes in trade-ins
FILLED with pre-loved Pradas, ‘break-up’ Balenciagas and Chanel cast-offs, an innovative second-hand shop has become the arm candy destination du jour.
The Designer Exchange is a treasure trove for ladies with an eye for a luxurious leather handbag – at a discounted price, people such as AR model Holly Carpenter who popped in this week to pick up a bag for the forthcoming VIP style awards.
And the savvy style maven who came up with the idea is actually a 35-year-old man, Dubliner Patrick Coughlan.
He credits growing up with five fashionconscious sisters, along with video games, as the impetus for his business.
‘My history is in retail, right from the age of 15… I was involved in a similar concept, the buying and selling of technology products for the world’s largest video games retailer, GameStop for about 10 years,’ he says.
‘That’s where the concept loosely came from… we saw the demand for this in highend fashion and ran with it.
‘I’m brother to five very fashion-conscious
Idea came from having five sisters and video games
sisters, which obviously helped. In fact our first ever designer handbag was a part exchange from my sister Aoife,’ he says.
Coughlan says women coming into the store are surprised to see a man who knows his Chanel from his Chloé, but explains: ‘It’s not just me here in store; I have a dedicated and professional team.’
Unlike most second-hand stores The Designer Exchange deals predominantly in handbags, although there are some Louboutins and jewellery on sale, too, and it allows bag trade-ins.
‘There was a gap in the market as we saw it for a specialised designer handbag and accessory part exchange retailer in Ireland.
‘Our customers told us they wanted authentic, quality designer handbags without the price tag. They wanted to unlock the value of items they no longer wanted, or couldn’t justify leaving in their wardrobe.
‘I am merely a facilitator for this demand. We make it happen. And there’s no need to blow a full week’s or month’s wages on your dream bag. Secure it with a deposit and complete it on agreed terms with us, interestfree.’
‘Currently we have a Chanel classic flap jumbo khaki patent bag in stock. It retails new for €3,950. We are selling it for €2,700 with minimal signs of use. ‘We also have a Fendi Adele Vietnamese albino python bag. This originally retailed in excess of €4,000 and is one of a very small number produced.’
Premium brands such as Chanel, Hermes and Louis Vuitton never discount, in fact they increase the price of their statement pieces each year. Although Chanel has, for the first time, synchronised the price of three of its bags. Up to now prices varied around the world with the insatiable Asian market paying the most. Chanel’s move means a price hike in Europe and a drop in Asia.
‘They really do become investment pieces and commodities,’ says Coughlan. ‘Only this week we paid a lady €400 for her Louis Vuitton Speedy, she bought for €440 in 2005. They now retail starting at €650.’
And unlike buying online where caveat emptor applies, The Designer Exchange guarantees all its bags are authentic.
‘Each item we bring in goes through a rigorous and professional authentication by our store team and our network of external consultants. We issue a certificate of authenticity with every item.’
He says his customers are of all ages and all have a different story.
‘We have had the break-up bag, where someone may have been given a bag as a present then the relationship breaks down and they can’t bear to look at it. Or women who simply want a change.
‘From teenagers through young professionals and on to our cultured fashion-conscious ladies. Our age group stretches from 16 to 80 and across all social divides.
‘That’s the beauty of the concept. We make what may be seen by some as a closed community… of the fashion industry, accessible to all.’
Each item is guaranteed to be authentic