HISTORY:
The idea came a year ago, after a few years of owning & running a successful women's designer vintage clothing store in Copenhagen. Observed how COVID19 affected consumer spending and surge in e-commerce. Inquiries about alternative payment solutions. Consistent increased sales, consumer excitement and interest focused on luxury branded bags.
THE BUSINESS IDEA IN A NUTSHELL:
Building a community-driven marketplace, facilitating buying and trading exclusive luxury designer bags, thus empowering members within a circular retail model, run by female entrepreneurs.
PROBLEM, SOLUTIONS AND VALUE CREATION:
People are looking for designer luxury bags, especially in Denmark. The consumer market for luxury bags is a 2.4 USD billion industry worldwide. However, current options for luxury bags can be expensive or “cheap”, low quality unverified or unqualified resellers. Alternatively, they are fakes or non-sustainable high street options. Sustainability awareness is forecast to increase in luxury fashion.
Furthermore, there is an increased preference to trusted brands. Through our platform, we give access to luxury! Our goal is to amplify an existing & growing community. Key to success will be inclusivity and access, giving all income group consumers across Denmark a platform to buy, rent, sell and trade their luxury items. Through paid membership tiers, we provide early access to events, sales, discounts and financial incentives. We provide consumers from different income brackets access to luxury items via new financial incentives eg. rental, monthly instalments and exchange initiatives
COVID has increased e-commerce spend. It has also decreased small brand sales and increased luxury brand focus. This change in mindset is accelerating the sustainable fashion trends. The market share for vintage and second hand industry has increased exponentially the last few years and expected to overtake consumer spending on new fashion in the next decade.
We want to offer an affordable solution - new ways of shopping, giving access to luxury products and building a digital community.