Not only in China. In fact, heavy demand for luxury bags is widespread all over the world. Apparently, it has broken out simultaneously with the pandemic. British reseller Sellier Knightsbridge, which is the commercial name of The Vestiary Limited, is fully aware of such momentum. At present, they manage to sell one Hermès bag a day, while Chanel classic bag supply can go sold out even in 30 seconds.
A heavy demand for luxury bags
Sellier physical store was first opened at the beginning of 2019 by Hanushka Toni and her mother, Dina Ibrahimova. Everything was running smoothly, tells the company’s founder on WWD, until March lockdown. She therefore started augmenting the number of comments posted on Instagram. That proved to be a turning point indeed. “We keep growing, month after month.
Since the launching of our website, which took place last May, our revenues have been increasing, on average, by 300,000 to 500,000 pounds a month, just on the website”, pointed out Toni. We succeed in selling a vast majority of our products in one hour since their launching on Instagram. We eventually sell them in a week time at the latest. Talking about our clientele, it consists of wealthy women who own some “amazing collections and keep refreshing their own wardrobe by purchasing top brand items on a nearly weekly basis”, remarked Toni.
The leading fashion brands
Chanel and Hermès are undoubtedly the leading fashion brands in the market. A new Birkin bag, size 25, is for sale, in boutiques, at 6,500 British pounds, whereas at Sellier’s its price is estimated at 13,500 pounds. “This is absolutely ridiculous”, commented Toni. In her opinion, such price discrepancy mostly depends on the fact that stores offer little supply alongside a particularly limited selection.
In contrast, on secondary market buyers can find the bag they like the best in terms of size, colour and finishing touch. Chanel and, most of all, Hermès are a whole other story though. As regards the other models, they get depreciated in a short time, even up to 80-90%. In the same way, bag shopping turnover turns out to be quite quick: in fact, the same buyer purchases a model and subsequently resells it after just a few weeks. Sellier now aims to redouble its revenues by the end of next year while looking to expand in the United States.
Pictures taken from sellierknightsbridge.com/