Farfetch gives designer bags second life
Farfetch has introduced Farfetch Second Life: a new initiative to give designer bags a second life. Customers can exchange their beloved handbags for credit they can use to fund future purchases on the online fashion store.
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The launch of Farfetch Second Life comes at a perfect timing: sustainability is a very trending topic in the online fashion industry and it looks like the perfect moment for Farfetch so launch something that not only gives fashion items a second chance, but also gives the online retailer an opportunity to let customers shop with them again.
Used luxury market is growing rapidly
“Luxury fashion is increasingly geared to sustainable fashion. Resale is an area that is becoming more and more interesting to our customers”, Giorgio Belloli, CCO at Farfetch, comments. “Like the online luxury market, the used luxury market is growing rapidly and is expected to double and reach over 45 billion euros over the next five years.”
Bags from 27 brands accepted
For now, the resale of designer handbags through the platform of Farfetch is only available for 27 brands, including Alexander McQueen, Burberry, Louis Vuitton and Prada. The online fashion retailer does accept bags with minor imperfections such as light stains or small scratches, but won’t accept torn or discolored items.