The luxury brand is partnering with technology and logistics platform Reflaunt to help customers sell their vintage Balenciaga clothing and accessories.
It is one of several brands owned by French conglomerate Kering, including Alexander McQueen and Gucci, to experiment with the second-hand fashion market.
Initially, the luxury sector was wary of online resale platforms, fearing they would cannibalize sales, encourage counterfeits and damage carefully cultivated brands. But the rapid growth of the secondhand market, coupled with growing interest in resale as a way to solidify brands’ sustainability credentials, has quickly changed that attitude among some players. In a statement, Balenciaga described its new resale initiative as a “circularity program.”
Last year, Kering took a 5 percent stake in luxury resale site Vestiaire Collective. By contrast, companies like Chanel and Hermès have remained skeptical. Birkin maker Chief Executive Axel Dumas told analysts in June that participating in the market would be “to the detriment” of the brand’s regular customers.
Balenciaga’s partnership with Reflaunt (in which CEO Cédric Charbit is an investor) will offer customers a full-service resale experience. Products can be scheduled for online pickup or drop-off at participating Balenciaga stores, where they are sent for authentication and pricing before being photographed and listed on a network of global markets.
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Learn more:
Why Kering invested in Vestiaire Collective
Kering’s involvement comes as brands compete to secure a seat at the table in the online reselling space.
Source: news.google.com