The Rise and Rise of Pre-Loved Luxury in India

p/p pbr /From Facebook's Mark Zuckerberg to Google's Sunder Pichai, the world is realising that at present buying potential is at its peak in India. With the growing international exposure the need for ultra luxury good is also on the rise. Right from the affluent to the aspiring, everyone wants to dress their best and add a touch of opulence to their lifestyle./p pandnbsp;/p pHaving said that, owning a Sex and the City style wardrobe, and maintaining and upgrading it every season, isn't everyone's cup of tea. Neither is donating curated couture dresses and limited edition handbags a great way out for those who can afford them; luxury goods often end up needing a caring and a loving second home and buyer./p pandnbsp;/p pNikita Agarwal, Founder of Once Again, an ecommerce site for pre-owned luxury goods, like many ladies of her ilk, faced a similar dilemma; she didn't know what to do with her prized possessions once she had flaunted them to her heart's content It was dilemmas of such kind that gave rise to the concept of resale of luxury items in our country; sale of pre-owned luxury, as they call it. It was this that led to the rise of ecommerce sites such as Nikita's, Confidential Couture by Anvita Mehra and Jharna Gianchandani, as well as Nidhi Gupta's ThatWardrobe.com, amongst others./p pandnbsp;/p p style="text-align: center;"/p p style="text-align: center;"emConfidential Couture's Anvita Mehra and Jharna Gianchandani/em/p pandnbsp;/p pstrongThe Stigma and The Needbr //strongResale, second hand, pre-owned luxury-while the concept does sound acceptable, are Indians ready for andlsquo;such luxury'? Anvita and Nikita both agree that globally pre-loved goods have a huge audience; in fact, it is a multi-million dollar industry. But back home there is still some stigma attached to it./p pandnbsp;/p pBut there also is a massive demand for international brands here. Especially, with the considerable rise in the middle income group's keenness to own luxury goods; the market sure is growing exponentially. Nidhi Gupta elaborates, "Pre-loved luxury items in good condition, valued at 60 per cent of the original retail price meet the needs of the aspiring, young people who dream about owning that first Gucci from their own salary." She further insists that women aged between 18 and 35 are more open to the concept as compared to the older age group./p pandnbsp;/p pHowever, the wide spread trend and concept of pre-loved luxury is gradually seeing seasoned luxury buyers take keen interest. These are women who care about how they look and what they wear. They follow fashion trends and make for great influencers on social media. And well, they make for potential sellers on these ecommerce sites."/p pandnbsp;/p p style="text-align: center;"/p p style="text-align: center;"emOnce Again's Nikita Agarwal/em/p pandnbsp;/p pstrongSustainable and Rarebr //strongWhile the whole trend may seem like it's just passing on valuables to like-minded lovers of luxury and fashion, making room for more and earning in the process. In reality, the crux of the concept is an underlying need that goes beyond style./p pandnbsp;/p pOften luxury arm candies and couture pieces are produced in extremely limited quantities to maintain exclusivity as well as rarity. Anvita explains, "By recycling these ultra luxe bags, the sustainability of the fashion world is retained. Moreover, people can find unique and authentic items which may not be available at the brand store anymore."/p pandnbsp;/p pNidhi further talks about bridging the gap between actual luxury goods and the pre-owned ones. She says, "This is a stepping stone for the luxury market. The availability of pre-owned luxury fashion makes the original items more desirable and accessible." Elaborating further, Nikita adds, "Most consumers are buying pre-owned luxury because of attractive price and a sense of pride. Besides, we even have buyers who like to change their accessory closet every few months. Hence this option is viable and has variety not found elsewhere."/p pandnbsp;/p p style="text-align: center;"/p p style="text-align: center;"emThatWardrobe.com/em/p pandnbsp;/p pstrongPre-Owned vs Counterfeits br //strongToday, winning over first copies and counterfeits available in the market is a concern for most luxury brands currently. Pre-loved goods act as a great ethical introduction to luxury for most. The experts explain the fight well./p pandnbsp;/p pNidhi explains, "We create the awareness. Instead of owning an expensive first copy and always feeling uncertain about it, buyers now have the choice to spend a bit extra and possess an authentic one. " First copies aren't exactly cheap or easy to find; so having an original one at attractive prices, almost 60 per cent off on the retail, helps majorly in deterring the fakes./p pandnbsp;/p pAnvita adds, "With the growing awareness, people don't want to be caught with fakes. And there is always the question of prestige when carrying a branded bag. So our products not only help in differentiating between the two, but also aid in buying these luxury items in the future."/p pandnbsp;/p pFurthermore, Nikita talks about a strict quality check in place. She says, "We authenticate products by looking at the hardware, fittings, logo, print, serial code and price. We provide the buyers with all the proof we have and have a no-questions-asked return policy to make buyers confident."/p pandnbsp;/p pstrongThe Reachbr //strongWhile discounted prices and variety play a huge role in driving sales, an important feature is the accessibility. In India, the affluent of the tier 2 and tier 3 cities have the buying power but no proximity to a Dior, Fendi or Louis Vuitton stores. So having an online service that is reliable and offers one of the finest luxury items aids in boosting pre-owned sales./p pandnbsp;/p pBesides, with easy options of cash-on-delivery and monthly instalments, the need for pre-loved goods is only further fuelled in the youth. While the concept of reselling is for now limited to opulent bags and watches, we won't be surprised to soon see the trend emerge in the world of gadgets, limited edition automobiles and even home decor./p pandnbsp;/p pemImage Courtesy: Thinkstock/em/p pandnbsp;/p pstrongMore On andgt;andgt; a href="http://luxpresso.com/lifestyle" target="_blank"Lifestyle/a/strongembr //em/p

from Luxpresso http://www.luxpresso.com/news-lifestyle/the-growth-of-pre-owned-luxury-in-india/16071389
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