Vestiaire Collective launches fashion brokerage index
today Oct 26, 2016
Vestiaire Collective, a major social reselling site that focuses on luxury designer items, announced on Tuesday their launch of a comprehensive Fashion Resale Index.
The index will reveal the average resale values of many different luxury product categories, including handbags and footwear.
Also included in the launch by Vestiaire Collective, is a resale calculator. This allows users to calculate the estimated income from the designer item they wish to resell.
The launch stems from a 2015 survey the website conducted in collaboration with IPSOS. The survey found that 5% of consumers took the resale value of an item into consideration before purchasing an item. The survey also found that many consumers considered designer items investment pieces.
The index is designed to assist consumers in becoming fashion brokers. In the company’s research, Vestiaire Collective found that designer handbags bring in 75% of the original retail price, and shoes will bring in 57% of the original retail price.
Brand activity is also crucial to reselling – brand popularity or the presence of a certain creative director can increase or decrease the resale value of an item from that brand. The resell calculator would take this brand activity into account.
Vestiaire Collective is an online resale site for high-end designers items. The website currently has over 5 million members and brings in 25,000 new items to their resale platform weekly.
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