Rebag is expanding its resale offering to footwear and some apparel, as it aims to offer a full range of luxury accessories for men and women.
According to Rebag, the retailer will now buy and sell footwear, including sandals, sneakers, heels, boots and loafers. It will also offer outerwear, jackets, vests, sweaters and sweatshirts, from existing brands such as Chanel, Gucci, Hermès, Louis Vuitton and Fendi. Rebag also said it will feature items from Adidas, Balmain, Common Projects, Maison Margiela, Manolo Blahnik, Jordan, Yeezy, Rick Owens and Vetements for the first time.
“After our successful integration of watches and fine jewelry in 2020, footwear and apparel is the natural next step for us,” Charles Gorra, CEO and Founder of Rebag, said in a statement. “Rebag is the expert and ultimate destination for the most coveted luxury items. We are excited to broaden our horizons and offer our clients new categories in which to invest. This has always been a request from our buyers and sellers and will help us meet more of their resale needs.
The announcement follows the announcement of Rebag’s recent partnership with Moda Operandi, featuring a one-of-a-kind digital lounge, as well as the launch of Rebag Rewards, a tiered loyalty program offering various incentives at different levels. The retailer also recently launched Trade, a feature that allows consumers to buy and sell items in a single transaction.
This new expansion comes as consumers spend more on second-hand items. According to ThredUp’s 2022 Resale Report released in May, the US used market is expected to more than double by 2026, to $82 billion. In 2021 alone, the total used market grew 58% from the previous year to $35 billion, according to ThredUp’s report. This is the strongest growth of the second-hand market in five years.
These data echo similar figures from the NPD group. In the first quarter of 2022, according to NPD’s recent “Future of Apparel” study, consumers reported an increase in apparel purchases on resale sites. While lower prices are the main draw for most resale buyers, style and premium brands are gaining in importance. According to the NPD study, the market is moving towards a younger, millennial crowd, with 66% of 18-24 year olds saying they buy from resale websites.
The study also showed increased interest in using fashion rental websites. In fact, for an upcoming social event, 6% of consumers said they would rent their dressy or formal attire for one-time use, with millennials the most likely to do so, according to NPD’s June omnibus survey.
Over the past two years, a growing number of large retail companies and brands have entered the resale business through various means. Crocs, Adidas, Macy’s, Target, PacSun and JCPenney, for example, have partnered with ThredUp, while Neiman Marcus took a minority stake in Fashionphile in 2019.
More recently, Stadium Goods, Dr. Martens and FRWD have all launched resale programs.