India’s Luxury Resale Revolution: Where High Fashion Meets Smart Investing
India’s Luxury Resale Revolution: Where High Fashion Meets Smart Investing
In the vibrant landscape of India’s preloved fashion market, women are not merely exchanging luxury bags; they are pioneering a new wave of fashion investment. This dynamic market blends the excitement of discovery with the sophistication of high-end fashion, creating a unique niche where luxury meets savvy trading.
The Emotional Bond with Luxury Bags
Consider Kimaya Banga, a 34-year-old fashion aficionado. While she may not have children, she has her ‘babies’—Hermès Kelly, Dior Lady, and Chanel Flap. These are not just any bags; they are cherished luxury items that she meticulously cares for. Banga’s relationship with her bags mirrors that of a stock trader, buying and reselling with a keen eye on market trends.
The Flourishing Preloved Market
India’s preloved fashion market is experiencing unprecedented growth, with a projected value of ₹1,556 million by 2032. While global platforms like The RealReal are active, local companies such as Confidential Couture and My Almari are gaining significant traction. Banga herself made a purchase on My Almari within days of its launch—a coveted Goyard tote, a brand without a physical store in India.
The Dynamic Relationship with Designer Pieces
Banga’s approach to her wardrobe is fluid. She enjoys her pieces for a season or two before reselling them to make space for new trends. This practice is gaining momentum globally, with young women upgrading their wardrobes swiftly. According to The RealReal’s Luxury Resale Report, Gen X resells the most, while Gen Z resells the fastest, particularly in the women’s category.
Emotional Connections and Impulsive Purchases
Tanisha Arora, a 22-year-old fashion student, forms emotional connections with her designer bags but appreciates the safety net that resale platforms offer. For impulsive buyers like her, these platforms provide a way to offload purchases quickly if a trend fades. Arora’s experience with Jacquemus’s Chiquito bag is a testament to this—she bought it, loved it, but ultimately sold it when she realized it wasn’t a classic piece.
Luxury Bags as Investments
Nimisha Behl, a 34-year-old finance professional, views luxury bags as part of a carefully curated portfolio. She buys with future value in mind, tracking market trends and resale values. Behl’s approach reflects a growing niche of sellers who see luxury bags as more than just accessories—they’re investments. A 2022 report by Credit Suisse named handbags as one of the best collectible investments for 2023, surpassing art and jewelry in resale value.
The Allure of Investment Pieces
While Behl has sold and resold many vintage pieces, some bags hold a special place in her heart. Her classic Saint Laurent Loulou, purchased in Paris, is one such piece. The beauty of investment pieces like the Loulou is that even if they don’t yield immediate cash rewards, they remain timeless accessories.
The Profitability of Luxury Resale
Luxury brands that regularly hike their prices benefit buyers and sellers who hold on to pieces for longer. Banga’s Chanel Flap bag, bought for approximately two lakhs in 2016, now retails for nearly five lakhs. She recently sold a mini Lady Dior for a significant profit, demonstrating the lucrative nature of the luxury resale market.
For more insights into the world of luxury fashion, you can explore Vogue India.
