28Nov

VAULT INSIDER: YOUR WORLD OF LUXURY, THANKS TO REEBONZ

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What was the inspiration behind creating Reebonz?

Reebonz was created to fill the gap we saw in the market for affordable luxury. We are all about creating a world of luxury where members get access to an ever-expanding range of exclusive designer items. To us, luxury is the privilege of being able to shop with an ease of mind from the comfort of our homes. We strive to provide a trusted, easy and exciting shopping experience for our members.

Where are your products sourced from?

Our products are sourced from authorised brand suppliers from around the world. This way, we are able to offer an extensive variety of luxury goodness to our members.

What differentiates Reebonz from other designer outlets such as Vestiaire Collective or Cosette?

We pride ourselves on delivering our services above and beyond expectations. We live by our promises to our customers: Fast delivery, free shipping off most items, easy returns and refunds, quick customer response and guaranteed authenticity.

We have also been one of the first online retailers in AU to be certified a Google Trusted Store, a Google recognition awarded to ecommerce sites that demonstrate a track record of ontime shipping and excellent customer service This means our members can shop knowing that they will receive reliable shipping and excellent customer service.

In addition, members are also able to consign their pre-owned designer items with Reebonz.

We also like to think that our ever-expanding inventory of over 150,000 products gives our members a reason to be excited!

When deciding to invest in a piece from Reebonz, what would be the three most important factors to consider?

Exclusivity, popularity and brand strength definitely contributes to how well a luxury investment pays off five years down the road.

If you could only buy one designer bag to last the next 10 years, what would it be?

It will have to be a Chanel – classic and timeless.

According to Reebonz, which brands are considered most valuable?

Louis Vuitton, Hermès, Gucci and Chanel made the top four most valuable luxury brands in Millward Brown’s 2016 ranking of most valuable global brands and are without question the most iconic brands in the world. And even where digital may be a sore spot for some luxury brands, these brands still remain strong performers even in the online luxury sector.

What are the cult brands?

Brands like Givenchy & Lanvin have enjoyed a surge in popularity based on latest sales data from Reebonz. Transactions have surged from hundreds to thousands in the span of a year, with bags driving the strongest demand amongst consumers. Cult brands are giving super brands a run for their money as consumers’ tastes shift.

What trends have you noticed in the buying patterns of your customers?

A look at the latest sales data from Reebonz shows blue chip brands posting strong performances in the pre-owned category, with Chanel, Louis Vuitton, Hermès and Prada easily topping the charts. It appears that the luxury players that manage to create a high perceived value of their brand are most successful when it comes to maintaining their dominance even in the pre-owned category. While it is difficult to forecast the long term worth of most new products, luxury goods that have stayed off the shelves for some time have a reliable record of value, especially for blue chip brands. Traditional luxury may just be losing some of its sheen, as industry experts predict a subtle shift in consumers’ tastes towards more unique, personalised and niche pieces.

We have noticed some pre-loved items sell more than the normal retail price. Is there a particular reason for this?

A Chanel Jumbo Flap Bag could fetch up to $1,500 more than its original retail value in the US while a Goyard bag could be resold at 130% of its retail price. Thanks to the Internet, savvy consumers can now project the value of a luxury pre-owned item based on a recent transaction. If the continued growth of pre-owned luxury means anything, it’s that consumers are increasingly overlooking the distinction between brand new and pre-owned goods. Consumers are no longer buying into novelty, but also true luxury – as they become savvier with research, it is the intrinsic value and exclusivity of a luxury piece that they are after.

One of the scary parts about dropping your monthly wage on a handbag online is the question of authenticity, do you get questions regarding the authenticity of your products?

Though questions about authenticity once loomed over the pre-owned category, the emergence of trusted platforms like Reebonz is creating a vibrant exchange for consumers to come together to buy and sell preowned luxury items. At Reebonz, all pre-owned items are first authenticated and graded by their experienced professionals before the piece is issued a Reebonz Atelier Authenticity Card. Watches and jewellery also come with a Grading Certificate that contains detailed information issued by their in-house luxury experts, so consumers can shop with peace of mind that every product sold is guaranteed authentic.