Rebag wants to dress you up. The luxury resale site founded in 2014 with an emphasis on bags, accessories, fine jewelry and watches is expanding its offerings beginning today to include clothing and shoes. The category is increasing in popularity with the rise of circularity trending in the fashion business. As competitors such as Fashionphile, TheRealReal, Vestiaire Collective and user-friendly consumer platforms such as Depop and Poshmark become increasingly popular, Rebag is honing in on its uniquely curated designer assortment.
According to CEO Charles Gorra, Rebag customers have asked for an expansion of offerings since launching. “Shoes have been one of the top requests, so of course, we listened. We applied Rebag’s meticulousness for sourcing luxury handbags, accessories, fine jewelry, and watches to procuring the best designer footwear and select apparel,” said Gorra that the expansion naturally means they can also sell those products to Rebag. The assortment will come from existing brands on the site, such as Chanel, Gucci, Hermes, Louis Vuitton and Fendi.
Additionally, the platform will start to accept new luxury designers, including Adidas, Balmain, Common Projects, Maison Margiela, Manolo Blahnik, Nike
Rebag reviews several factors when buying its product, such as current demand, trends, retail pricing, and past data. Expanding into these new categories will also extend its covetable factor.
“Brands like Nike and Yeezy attract long lines for limited releases, so those who couldn’t procure certain items on the primary market may have the opportunity to purchase them through Rebag. Or if they’re looking for limited edition apparel collaborations, like Fendi’s California Sky partnership with artist Joshua Vides or a baseball shirt from the Supreme and Louis Vuitton collaboration,” he explained.
The service offers upfront pricing and fast payment via ACH, check, or Rebag Credit upon completion of the vetting process rather than sellers having to wait until the item sells. This feature, plus a proprietary tracking system, also assures buyers they get a fair price for their submitted items. Secondary prices have not tended to retain their initial offerings for like items, especially at TheRealReal, which recently sent out emails lowering percentages and have left sellers frustrated by the low return rates.
“Buyers invest with confidence using Rebag’s industry-leading tools, which enable them to make educated decisions about their luxury purchases; using Clair Codes, our proprietary tracking system allows customers to uniquely identify any item by brand and model; it’s easy to track an item’s value over time, akin to a car’s VIN or using the Kelley Blue Book. Sellers benefit from Rebag’s intelligent Clair technology, which uses millions of data points to determine the resale value of designer items, and in most cases, receive instant, upfront payouts. Rebag’s Trade program offers savvy consumers the best value towards today’s purchase when they buy and sell in one transaction, earning 15% more and, in most states, enjoying tax benefits,” Gorra continued.
Rebag’s distribution currently is DTC, but they do exclusive events with retailers in the primary market. The platform partnered with Moda Operandi on a one-of-a-kind digital trunk show earlier this year. “We offered Moda clients access to more than 115 highly-coveted and limited-edition luxury handbags, including exotic and one-of-a-kind pieces by Hermès, Chanel, and more, hand-picked by Moda Operandi’s buyers from Rebag’s inventory of over 30,000 designer items,” the CEO said of the event.