Privé Porter opens in Miami

Privé Porter, a purveyor and reliable retail source for acquiring Hermès handbags, has opened its first store in Miami. Jeffrey and Michelle Berk, the founders of Privé Porter, had Miami on their radar because of the amount of wealthy consumers there. 35 percent of the company’s buyers are Middle Eastern.

The new Privé Porter store will be located at Brickell City Center. The new lease is only for six months, but they do have the option to extend indefinitely. Several years ago, Privé Porter did attempt to open a private showroom on Manhattan’s Upper East Side, but it didn’t last long. Sales were low, despite Manhattan’s bastion of wealthy consumers.

Despite the global coronavirus pandemic putting a damper on physical store sales, brick-and-mortar is the main focus for Privé Porter right now. Privé Porter has the rare distinction of being one of the very few retailers who did see a huge dent in sales due to the coronavirus pandemic. The company is still on track to do 18 million dollars in sales this year, the equivalent to last year. The Berks are currently planning on opening a traditional store in Manhattan along with one in Beverly Hills.

The 29 billion dollar fashion resale market is expected to grow to 51 billion dollars by 2023. Luxury isn’t missing a beat with getting their hands on their slice of the resale pie either. Last year, Neiman Marcus made an investment in fashion resale platform Fashionphile. The luxury industry is now trying to take control of the resale market in an attempt not to miss any potential revenue and stay on top the growing trend of secondhand apparel.

photo: via priveporter.com