Accessories from the world’s most coveted luxury brands, including Chanel, Hermès and Louis Vuitton, can now be bought via Luxury Stores at Amazon.
New York-based re-sale purveyor What Goes Around Comes Around (WGACA), is now operating a digital store on Amazon, which sells one of a kind vintage bags, including an Hermès Birkin, currently priced at 19,500 dollars and a Chanel quilted Caviar bag at 12,500 dollars.
LVMH has never been shy of sharing its thoughts about luxury being incompatible with Luxury Stores at Amazon. As far back as 2016 LVMH stated “the business of Luxury Stores at Amazon does not fit with LVMH full stop.” Yet that has not stopped reseller companies to open pre-owned stores with items that have left the LVMH distribution chain.
“We were attracted to Luxury Stores at Amazon’s mission to create a convenient, inclusive destination to discover luxury goods," WGACA CEO Seth Weisser said in a statement. According to PYMNTS Weisser also highlighted his company's 30-year track record of servicing the unique luxury pre-owned apparel and accessories needs of celebrities, industry tastemakers, and high fashion.
In 2020 Luxury Stores at Amazon opened its Luxury Stores with American fashion house Oscar de la Renta. At the time the retailer said: “Luxury Stores combines the convenience customers have come to know and love from Luxury Stores at Amazon with innovative technology like View in 360. This interactive feature will begin rolling out with select garments at launch, allowing customers to explore styles in 360-degree detail to better visualize fit, and making shopping for luxury easier and more engaging."
Brands operate inventory and pricing
"With collections sold directly from the participating brands as a ‘store within a store’ experience, brands independently make decisions regarding their inventory, selection, and pricing – and Luxury Stores at Amazon offers the merchandising tools for brands to create and personalize content in each of their unique brand voices.”
In the past week Zara, Yoox and Shein announced entry into the re-sale market, in addition to Goat acquiring acquiring resale commerce site Grailed.
Last year McKinsey estimated the resale luxury market to be worth 20 billion dollars in 2020 growing 10-15 percent year on year to 2025.