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Neiman Marcus wants you to buy your handbags, accessories and jewelry in his stores, of course. Then, when you're ready to cash, drop off luxury items at some Neiman Marcus stores with a Fashionphile counter. Repeat.
The Dallas-based retailer, recognizing its customers are buying second-hand merchandise, is directly interfering with the growing multi-billion dollar luxury resale market with an investment announced on Wednesday.
Neiman Marcus stated that he acquired a minority stake in Fashionphile, an online buyer and seller of second-hand merchandise featuring showrooms in Beverly Hills, San Francisco and Carlsbad, California, as well as Madison Avenue. , At New York.
Fashionphile was founded in 1999 and presents itself as an ultra-luxury retailer with a stock of 15,000 items. The California company claims to be profitable with sales growth of 50% per year over the last five years and is expected to reach $ 200 million in 2019.
Neiman Marcus did not reveal the size of the investment. It has also been prudent to say that he will not sell fashion accessories, handbags and occasional jewelry.
But he wants to make Fashionphile easy to use and will designate some of his stores as drop-off points. What will look like is still being decided, said Neiman Marcus spokesman John Walls.
"More than half of our customers are already opting for the luxury of opportunity and this exclusive partnership exemplifies our commitment to providing our customers with the services and offerings they want and need," he said. Geoffroy van Raemdonck, CEO of Neiman Marcus.
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