You Can Shop Pre-loved Designer Fashion With Net-A-Porter's New Luxury Resale Service
In the past two decades, Net-A-Porter has become one of the most important luxury fashion retailers in the world. Not only does NAP sell the latest runway fashion and most coveted bags, but they have extensive selection of beauty, activewear, and fine jewelry and watches. Net-A-Porter has also spawned two spinoffs, Mr Porter and The Outnet. Now, NAP is jumping aboard one of the hottest fashion trends: the secondhand market.
Luxury fashion resale has grown exponentially in recent years, but there's still plenty of room for a major retail player. Net-A-Porter has partnered with Reflaunt, a technology company that specializes in resale. Net-A-Porter's clients will be able to sell pieces they are no longer wearing using Reflaunt's platform. The tech company will power the backend, handling everything from collecting products at a client's home to authentication, photography, pricing, listing, and shipping the orders.
Once an item sells, clients can receive a store credit to Net-A-Porter with a 10% bonus or a bank transfer for the sale price. The program includes ready-to-wear clothes, jewelry, bags, and shoes. (Net-A-Porter already has a partnership with Watchfinder & Co., where it sells a curated selection of pre-owned timepieces.) Select designer handbags will benefit from an immediate buy-back option, wherein clients won't have to wait for the piece to sell to receive Net-A-Porter store credit.
Why is Net-A-Porter getting into the resale market? Sustainability and responding to customer demands for a more circular economy. Alison Loehnis, president of luxury and fashion at Net-A-Porter, Mr Porter, and The Outnet, said, "We see re-commerce as a true enabler to tap into greater product longevity by extending the lives of pre-loved purchases. This collaboration represents an exciting step in our long-term mission to drive the change at Yoox Net-A-Porter to a more circular fashion ecosystem."
The Net-A-Porter x Reflaunt service will debut in the UK in fall 2021 with plans to roll out in the U.S., Germany, Hong Kong, and expand to Mr Porter and The Outnet in the future.
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