Saturday, Apr 18, 2015Dubai: Shoppers in the UAE are no people to spending thousands of dirhams concerned with luxury products, but some are now happy to buy second-hand, if it means snagging their favourite designer handbag.
A straightforward growing market for pre-owned high class items in the UAE, according to Kunal Kapoor, founder of The Luxury Guardarropas and former head of selling at French fashion house, Louis Vuitton.
Was launched in 2012, the website buys, sells so consigns pre-owned luxury items, due to handbags to accessories to running shoes, with prices up to 40 % (on average) less than the original. Some slew of brands are available make your choice from, including Chanel, Dior, Cartier so Burberry.
The idea to launch to the site presented itself when Kapoor offers chatting with friends about starting an internet business.
"If you can do this [sell used items] for cars, why not do this to find handbags? I looked into it and located out that it was comparable. In the UAE, I heard about people having accommodate parties to sell handbags. There was an auto dvd unit that was there; we just was forced to adapt it, " he shown.
The discounts differ from one company logo to another, reaching more than 70 % for some.
"With brands that budget at their own stores, like Cioccolatino and Gabbana and Armani, and the discounting goes up to 78 %, " he said.
Some stuff, however , sell for more than those in to retail stores.
"With brands like Hermes iPhone 6 plus wallet case, the price is on average more than the purchase price. We sell the Hermes Birkin, and if you go to a store you'll end normally be told that there is a delaying list and you can't get the plastic packaging. However , there are people that actually have each of these handbags and they want to sell it. Food case like this, the item sells exceeding the value of what you get from the store, " he explained.
Demand for luxury programs in the UAE is strong, brough into by "a strong affinity that will luxury" and high spending capacity, he said.
The UAE is your company's top market in terms of number of shipments, accounting for 60 % of sales, followed by the US so Saudi Arabia. Kapoor declined to say what quantity of he expects total sales to come back this year.
"I think the UAE is a big market [for luxury products]. The UAE accounts for 30 % of the [luxury ]market with this GCC [Gulf Cooperation Council]. There is a huge local demand and from tourist alike as well, " he said.
"The Middle East has the highest pertaining to each capita spend on luxury in the world -- $1, 500 per capita ordinary, " he added.
Last year, nachi received 60, 000 items to choose from, he said, but declined to cover how much of those were sold.
"Within a 12-month period, we to perform reach 1, 000 order tag a month, " he said, without having to disclosing how many monthly orders nachi currently receives.
The website has grown due to having a few thousand visitors 30 days to around 500, 000 today. Affordable handbags are the retailer's biggest-selling items.
Mentioned how the company ensures that the products tend to authentic, Kapoor said: "Every classification is managed by an expert. Small children what the item looks like. "
Diminished trust was one of the issues confronted by the firm when it launched.
"I think the early challenges were convincing people to trust the website. I think for an new player, people want to review you, " he said.
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