Farfetch joins the luxury bags resale market
In fact, Farfetch is preparing to enter the luxury bags resale market with a pilot program for luxury bags. New Second Life offer means that customers can trade their favorite luxury bags and they receive credits that they can use to make purchases in subsequent times on the site. [rml_read_more] Farfetch participated in the luxury bags resale market Farfetch is an online luxury fashion retailer. They sell products from more than 700 stores and brands from around the world. The company was founded in 2007 by Mr. Jose Neves, a Portuguese businessman. The company is headquartered in London and main branches in Porto, Guimarães, Braga, Lisbon, New York, Los Angeles, Tokyo, Shanghai, Hong Kong, São Paulo, and Dubai. This company has more than 3000 employees.
Louis Vuitton Vintage - Luxury Bags on Farfetch / Ph: Farfetch
This is just a pilot program of Farfetch. And if it works, Farfetch will apply it to compete with other resale stores like Vestiaire Collective and TheRealReal. The fact of the matter is that Farfetch is providing instant credit before the item that customers love is sold, which can be a big selling point for its new program. Although it's a few years slower than other resellers, this great scale gives Farfetch an advantage. Currently, the luxury resale market is large and in the next half decade it is expected to double to reach a value of US $ 51 billion. This is clearly a huge opportunity for retailers. Overall, it is true to say that this is a smart plan of Farfetch.Farfetch joins the luxury bags resale market
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