FASHION'S FUTURE IS ROOTED IN RESALE
3 ways FARFETCH brings resale within reach
The time to engage your resale business is now. Circular fashion economies come in two primary forms: peer-to-peer platforms and a form that has been a part of our story since FARFETCH debuted — managed marketplaces. As part of our luxury retail marketplace, we unveiled FARFETCH Second Life in 2020 — a resale purchasing offering for second hand designer bags.
After launching Second Life, FARFETCH saw a 17 percent increase in new users to the platform. And, when given site credit, shoppers spent 60 percent more than their average order on farfetch.com.
With the obvious growth seen in the resale market and sustainable fashion, FARFETCH saw an opportunity to expand the FARFETCH Platform Solutions (FPS) offerings and acquired resale platform Luxclusif in 2021. As a tried and tested leading provider in the resale marketplace (and the power behind Second Life), FPS integrated Luxclusif to bring luxury resale’s best available services to both consumers and industry partners.
In this guide to resale, we’ll outline three key solutions Luxclusif offers on the FPS platform that can be leveraged for your luxury resale business success.
Create a Trade-In Program: You buy. They shop. No commissions. No hidden costs.
Our white label Trade-In Program bridges the gap between sellers’ luxury closets and a pool of potential new buyers. Here, the owner of a Balenciaga Le Cagole shoulder bag can have their item purchased outright for site credit in return—driving retention and encouraging repurchasing in the process. You buy. They shop and both parties benefit. No commissions. No hidden costs.
Luxclusif’s platform is a one-stop service that appraises, authenticates, and acquires the item outright. Encouraging loyalty, especially as you build authority within the circular economy, is essential to growth. Forty-three percent of consumers say they are more likely to shop with a brand that lets them trade in pre-owned clothes for credit. Consumers want to engage more with brands that offer resale—especially if the payoff is immediate. In turn, our technology makes it possible for us to sell each second hand item to our network of external buyers through a multi-bidding model—powering purchase rates and payout/credit to your customers.
And you can operate your trade-in program on a global scale from the start. We provide you with the infrastructure to launch a branded solution, take care of the operational process, and assume the commercial risk. Our end-to-end servicing ranges from tech integration within your store’s backend to appraisal, logistics, and warehousing.
As evidenced by our successful trade-in programs on FARFETCH.com and in partnership with Selfridges, we prioritize maintaining the luxury experience every step of the way for both your business and the consumer.
Sell Pre-Owned Luxury: We source. We service. You sell. You grow.
Whether you’re launching a new pre-owned offering or growing your existing business, brands aiming to gain ground in the second hand market have unparalleled access to our globally-sourced collection through our Sell Pre-Owned Luxury Program. Our expert buyers discover and vet more than 3,000 sought-after items per month, providing you with a continuous supply of new inventory to attract the second hand buyer.
One integration gives instant access to our expansive selection of pre-owned luxury from a variety of brands with reduced purchasing risks. Brands retain control of their assortment by selecting which pre-authenticated, high-ticket items they wish to sell. API integration connects the dots to ensure a seamless shopping experience that’s on par with the expectations of luxury shoppers.
We source. We service. You sell. You grow.
What sets us apart? We’re a trusted partner to brands and retailers. A brand can approach us and request pre-owned luxury items from their labels, while retailers might prefer to hand over a designer brand or category wishlist, allowing our procurement team to source items that fit your predetermined requests and requirements.
Thanks to a network of warehouses spanning the globe from China to Europe and the United States, we can connect with B2C channels globally, which allows sales integration to occur quickly—online or as a physical consignment.
Curating a premium selection can help you position your business as a go-to destination for luxury brands like Chanel, Off-White, or Alexander McQueen. And with a sell-through rate of 85 percent and a take-back guarantee, stocking these high-ticket items is a low-risk investment that doubles as a major draw for consumer traffic.
Develop a New Sales Avenue: You provide the inventory. We extend its life.
What do you do when you need to expand the reach of your inventory beyond a season? Our third resale solution is focused on moving and capitalizing on excess inventory without losing brand equity.
New Sales Avenue enables brands to sell end-of-season inventory through our selection of offline and online resale channels. Luxclusif breathes new life into excess luxury supply by introducing it to an untapped audience. Together, we create a tailored, multichannel sales strategy and distribution plan that ladders back to your goals and vision. You provide the inventory. We broaden its scope.
Maintaining brand integrity is essential—especially in the luxury and resale markets. Create data-backed pricing and allocation rules that work for your brand through a single, simple integration. This model curates a personalized selection sourced from over 100 of our retail partners that are a fit both in terms of tone of voice and prestige.
We handle the full spectrum of logistics and the entire supply chain including the sale and post-sale process. Through this model, partners of all sizes have been able to sell 70 percent of their excess items within a staggering two months.
As the global platform for Luxury New Retail, FPS also unlocks tricky international markets. In regions like China, for example, translations, online activations, and a new playbook for marketing activations prevent brands from scaling globally. FPS empowers brands to sidestep these hurdles without losing sight of authenticity, brand values, or efficiency.
The teams at FARFETCH and Luxclusif have a proven track record of results-driven work with some of the biggest names in retail and an unrivaled global network. But, most importantly, our plug-and-play technology makes the integration of a resale model easy without compromising your brand. We’re a partner that can help you seize the opportunities the luxury resale market provides, guiding you through a bespoke solution that aligns your business needs with what today’s consumer wants, and tomorrow’s consumer expects.
Contact us here for more information or to talk through these resale solutions.
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