Luxury brand Michael Kors wants to profit from the booming second-hand market too. The Capri subsidiary has opened its own second-hand platform for loyal American customers.
For a voucher
Second-hand is a fast-growing trend, even in the luxury market, so now Michael Kors too wants to be part of the action. To keep the luxury brand’s items in circulation, extend their lifespan and reduce waste, the American brand has launched its own second-hand marketplace called PreLoved Michael Kors, WWD reports.
Customers can buy and sell articles of the brand themselves, although sellers have to pay a 20 % commission to the label. The remaining 80 % is not paid out, however, but rather given as a voucher. Sellers also have to become members and have a loyalty card from the label.
By taking over second-hand sales, Michael Kors hopes to maintain control and limit the risk of counterfeiting. But whether the brand can offer a relevant alternative to the many other premium second-hand platforms, such as The RealReal, The NextCloset and Rebelle, remains to be seen.