Luxury fashion brand Oscar de la Renta takes a bigger step into the resale business by letting customers shop vintage dresses from ‘Sex and the City’, ‘Succession’ and other TV shows as part of its product line expansion, Bloomberg reported on Tuesday. (January 25).
The designer launched thrift store Encore in November, bringing the looks he debuted on the runway to customers on consignment after being authenticated and restored, according to the report. The goal is to match its physical service through its online platform, with logistics and payments managed by Archive.
The fashion resale market is worth $130 billion, with The RealReal and Poshmark among its dominant forces, the report said.
Oscar de la Renta CEO Alex Bolen said he sees Encore as “a valuable tool” for winning new customers and retaining existing ones, according to the report.
“We see resale as a way for us to acquire new customers and, more importantly, retain existing customers,” Bolen said, according to the report. The companies view resale “as a fundamental shift in luxury fashion from being consumable or disposable to being an asset.”
Oscar de la Renta has sold 40 pieces of his first batch of vintage items and will soon release his second batch – featuring 31 iconic dresses and 15 high jewelry pieces from DKF – on Wednesday January 26. The company also plans to roll out an auction feature over the next few months, allowing customers to bid on dresses previously worn by celebrities in film and TV as well as on the red carpet and at the Met Gala and celebrities. other events.
Encore aims to provide customers with a sustainable alternative to buying new items by working with individual customers and vetting vintage sellers to curate an exclusive selection of pieces, Oscar de la Renta officials said at the launch of Encore. the platform in November.
Read more: Luxury brands are racing to own the resale experience