2021 Ultra-Luxury

Resale Report

2021 Reflection

If this year taught us a thing or two, it’s that luxury can survive practically anything. The demand for luxury products (and experiences) continues to remain alive and well – actually, really well. 

Since early last year, companies across the globe have experienced irreversible damage as a result of Covid-19; many are still recovering to this day. In 2020, we witnessed industry powerhouses temporarily close their retail stores, put a halt on mass production, and cut thousands of specialized jobs. 

Continuing into 2021, companies faced challenges in production, which caused dramatic setbacks in distribution and delays in product fulfillment. As retail stores began reopening, limited staff and excess inventory from seasons prior proved to be burdensome, ultimately affecting the supply chain as well as sales potential (WWD)

Mask mandates combined with strict social distancing protocols reduced the number of customers allowed inside at a given time, as well. We live in a world now where it has become harder to find the things you want.

Despite the changing dynamics of retail, one thing has remained constant: e-commerce. In fact, online shopping has been a saving grace. Just like last year, a mass e-commerce shift powered by Covid has allowed the resale market (and FASHIONPHILE) to thrive in more ways than we could have ever imagined.

In a year that brought so much uncertainty, we flourished, and even more so in 2021. We’ve hit record numbers in sales of Louis Vuitton, Chanel, Gucci, Saint Laurent, Hermes, and more.

As more people are taking the plunge into the investment world, even during a global pandemic, shopping for your favorite designers has become more than just an “impulse” buy. It has become a thoughtful acquisition to enjoy now with the intention of (hopefully) profiting from it in the future, and that’s a win-win. How so? You can wear what you buy, then sell it later for something else. Now couldn’t be a better time to shop for your next HG accessory at the premium source – FASHIONPHILE. Because when it comes down to it, making money while wearing what you love is ultimately the luxury of investing in ultra-luxury!

COMPANY

Growth

While many retail stores still face challenges with supply chain issues, resale on the other hand is collecting huge wins (WWD). The climate of the secondary market for buying and selling ultra-luxury goods has proved to be the strongest ever. For FASHIONPHILE, 2021 has been the biggest year yet. We’re on track to grow over 100% YoY and it’s all from acquiring the largest inventory and reaching 1 million resold handbags and accessories.

And with the exciting surplus of products from our customers, this year we have paid out more for your pre-owned handbags and accessories than last year to date.

In keeping up with our customers’ shopping and selling patterns, we look forward to adding more job opportunities to meet your needs. So far, FASHIONPHILE employees have gone up 35% compared to last year. Next year, we’ll be adding hundreds more as we expand to a 60,000 sq ft building in Chelsea, New York (adding 150 more jobs alone).

we offered
This year we offered you the highest buyout offers for your pre-owned ultra-luxury handbags and accessories.

OUR SELLING STUDIOS

Logo Fashionphile Neiman Marcus

This year we opened more Selling Studios in partnership with select Neiman Marcus stores. We have come a long way growing and expanding around cities near you.

Beverly Hills, CANewport Beach, CA
NorthPark Dallas, TXSan Francisco, CA
Atlanta, GAScottsdale, AZ
Palo Alto, CAKing of Prussia, PA
Boca Raton, FL Austin, TX

“FASHIONPHILE’s hyper-focus on curating high-quality supply
and providing best-in-class shopping experiences makes it the ideal partner.”

- Geoffroy van Raemdonck, CEO of Neiman Marcus Group

OUR 2021 Pop-ups

Within a quaint 30-acre historic district full of shops, restaurants, and boutiques in downtown Los Angeles lies ROW DTLA. We opened our first pop-up there offering an assortment of luxury accessories for a safe and chic in-person shopping experience.

Additionally, we have partnered with Neighborhood Goods with locations in Chelsea Market, Legacy West, and South Congress in order to bring our curation of ultra-luxury accessories to the forefront of circular commerce.

FASHIONPHILE Stores

New Brands

This year we added 12 new fine jewelry and watch brands to our growing designer directory.

TudorHublotGrand SeikoJaeger LecoultrePiagetBoucheron
MessikaAnita KoSuzanne KalanRoberto CoinBuccellatiJennifer Meyer
TudorHublotGrand Seiko
Jaeger LecoultrePiagetBoucheron
MessikaAnita KoSuzanne Kalan
Roberto CoinBuccellatiJennifer Meyer

Most Covetable Watches

Our inventory selection this year has included some of the world’s most sought-after timepieces including covetable designer watches from Rolex and Patek Philippe.

Patek Philippe Tiffany & Co. NautilusRolex Pearlmaster 39Rolex Daytona Yellow Gold Green Dial
Audemars Piguet Royal Oak Rose Gold Diamond BezelVacheron Constantin Overseas

Himalaya Everything

Can we say 2021 has been the year of the Himalayas? We procured incredibly hard-to-find collectors’ pieces such as the Himalaya Birkin and the Himalaya Kelly bracelet decked with diamonds. These rare finds, and more, have made it through our doors – but it didn’t take long to find new homes for these rare gems.

Hermes Himalaya Birkin 25Hermes Himalaya Izmir SandalsHermes Himalaya Kelly Retourne 28
Hermes Himalaya Kelly Bracelet Blanc SHHermes Himalaya Birkin 30

Top Brands

These are the top brands by category, in the order of most items sold this year.

Top Brands

These are the top brands by category, in the order of most items sold this year.

Top Handbag Brands
  • Louis Vuitton
  • Chanel
  • Gucci
  • Saint Laurent
  • Hermes
Top Fine Jewelry Brands
  • Cartier
  • Tiffany
  • David Yurman
  • Van Cleef & Arpels
  • Bulgari
Top Watch Brands
  • Cartier
  • Rolex
  • Omega
  • Breitling
  • Panerai

Top Styles

These are the most popular styles by category, ranked in the order of most items sold this year.

Top Styles

These are the most popular styles by category, ranked in the order of most items sold this year.

Top Styles

Handbags

Numbers don’t lie. The Pochette Metis remains a wildly covetable handbag with 32% more sales this year. Also increasingly popular (literally) is the Medium Double Flap. Chanel’s value is only going up! The Small Soho Disco bag from Gucci withstands the test of time. Gucci is also top of mind. From its latest Hacker Project with Balenciaga to the House of Gucci film, the style and origins of Gucci are truly legendary. Along with top-sellers from Saint Laurent and Hermes, you can never go wrong with iconic pieces from beloved heritage brands.

Louis Vuitton Pochette MetisChanel Quilted Medium Double FlapGucci Small Soho Disco Bag
Saint Laurent Monogram Chain WalletHermes Evelyne TPM
Top Styles

Fine Jewelry

The Cartier LOVE bracelet, Tiffany Ball Bracelet, and David Yurman Cable Classics Bracelet make the most popular list for the second year in a row. These styles not only carry meaning, but they can be worn by anyone, which is why our customers are adding these pieces to their carts religiously.

Along with Bulgari, Van Cleef & Arpels is noticeably climbing up the ranks. As a luxurious symbol of luck, the Alhambra bracelet increased 33% in sales this year compared to last year. The fact of the matter is, more people are investing in fine jewelry pieces that not only appeal to them but carry value long term.

Cartier LOVE BraceletTiffany Ball BraceletDavid Yurman Cable Classics Bracelet
Van Cleef & Arpels Alhambra BraceletBulgari Save The Children Pendant Necklace
Top Styles

Watches

Covetable luxury watch brands are most definitely on our shoppers’ radar.

Arguably, there is nothing more classic and desirable than a Cartier Tank watch, which remains number one for a second year in a row. Rolex also makes the list  proving timeless models can go a long way.  Sales for the Omega Seamaster were over 2.5x more this year compared to last. After all, you can’t beat a designer watch brand that was the first to make it on the Moon (Gear Patrol). Other watch brands including Breitling and Panerai, known for their exceptional quality and innovative designs are solid investments.

Cartier TankRolex DatejustOmega Seamaster
Breitling NavitimerPanerai Luminor

Are designer watches jumping in popularity?

Yes! At FASHIONPHILE, search terms including the word “watch” have increased 61% from 2020 to 2021. With more Cartier watches available in the pre-owned marketplace now more than ever before, it makes sense why this highly desirable name remains a top-seller at FASHIONPHILE. Everyone wants Cartier, and we make sure to continuously procure the best pieces our shoppers know and love.

Designer watch brands, like Rolex, are also becoming increasingly popular, especially those discontinued styles that are harder to get your hands on. Rolex watches, specifically, more than doubled in searches this year from last.

The Cartier Tank Francaise watch maintains its #1 spot from last year. The Cartier Panthere watch jumped to 2nd place this year from 19th place last year.

And despite being hard(er) to get, Rolex typically increases production by 3-5% yearly in order to keep up with demand. But this year has been a little different. In fact, Rolex issued a statement to the press on the scarcity of their watches. And to clear the air, no, this is not a strategy on their part by any means. The global shortage is very much a real thing.

At FASHIONPHILE we have a collection of items hand-picked just for you called the Hour of Luxury Watches, and you can find some of the best selections of Rolex watches, as well as other notable watch brands, that will maintain their status as investment pieces now and for years to come.

90% increased
Sales at FASHIONPHILE went up over 90% this year.

In Demand

In the present day, there may be somewhat of a shortage of products that we love. But demand for luxury goods, on the other hand, has not experienced a shortage by any means (and neither have we).

In Demand

In the present day, there may be somewhat of a shortage of products that we love. But demand for luxury goods, on the other hand, has not experienced a shortage by any means (and neither have we).

In Demand

LOUIS VUITTON Handbags

Overall, the demand for Louis Vuitton has gone up 94% compared to last year.

The brand has increased its prices several times. While knowing some prints and styles may be discontinued (or nearly on the way to being phased out), and more leather alternatives coming in, resale value for a number of popular Louis Vuitton pieces, like the Neverfull MM, are surely going up.

Neverfull MM increased 14%
The value of the Neverfull MM increased 14% from 2020 to 2021.
In Demand

Speedy 25 Bags

Another popular item from Louis Vuitton, the Speedy bag, is a bag on every serious handbag aficionado’s “To Buy” list. Its steady popularity explains why the valuation for the Speedy bag has increased 60% over the last three years.Out of all the sizes, the value for the Speedy 25 is by and large growing the most.

Monogram Speedy Bandouliere 25Monogram Speedy 25Damier Ebene Speedy Bandouliere 25

YoY Average Sale Price Growth

Unit %

In Demand

Chanel Handbags

We are no strangers to Chanel’s annual price increases. For as long as we can remember Chanel has been raising the prices of some of its top-selling styles, like the Classic Double Flap, which influences resale valuation.

Additionally, the current limit of one bag purchase per customer (applicable to certain countries), is an attempt to increase the exclusivity of popular Chanel items. This luxury brand sale policy, no doubt, triggers demand and simultaneously impacts many resellers around the world, particularly the Asian markets (Hypebeast).

As our Senior Procurement Director, Lara Osborn, so straightforwardly states, “You can buy all the robot brooches you want directly from Chanel, but don’t even think about buying a Coco Handle in every color!”

Chanel Classic Flap Price Increases

Unit USD $

In Demand

MEDIUM DOUBLE FLAP BAGS

When we took a step back, we noticed the valuation for the Chanel Medium Flap bag (which is, safe to say, the most popular size) experienced a significant leap in value over the last three years. It goes without saying, buy a Chanel bag now so you can reap the benefits in a few years.

Value for Medium Double Flap bags increased 64% from 2018-2021.
In DEMAND

HERMES HANDBAGS

Compared to last year, Hermes increased 29% in demand. FASHIONPHILE shoppers have a ravenous appetite for the equestrian brand, especially Birkin bags. As the velocity of sales trend downwards, sale prices soar higher. That’s how our pricing algorithm works (Fashionista). This year, we’ve seen this occur particularly for the Togo Gold Birkin 25 and the Togo Etoupe Birkin 30.

HERMES Togo Birkin 25 Gold
In Demand

Birkin Bags

The surge in appetite for Birkin bags only proves that it’s one of those styles that become more valuable over time. Despite the remarkably higher price points, demand for a Birkin bag is here to stay.

The Growing Value Of The Birkin Bag

The Birkin bag increased 32% in value
from 2018 to 2021.

The Birkin bag

The Growing Value Of The Birkin Bag

In Demand

Kelly Bags

Anyone sensing a Kelly craze? You’re not alone. Equally worth noting is the growing valuation for the Hermes Kelly bag, which at this rate is beating the average valuation for the Birkin bag.

The Growing Value Of The Kelly Bag

The Kelly bag increased 47% in value
from 2018 to 2021.

The Kelly bag

The Growing Value Of The Kelly Bag

In DEMAND

CARTIER LOVE BRACELETS

Cartier is crushing the resale market, as far as demand goes, topping the lists for both fine jewelry and watch categories. Simply put, the love for Cartier is universal and its pieces will always carry significant value. Are you team white gold or team yellow gold?

White Gold vs. Yellow Gold

Value for white gold LOVE bracelets increased 21% YoY
Value for yellow gold LOVE bracelets increased 13% YoY

Cartier LOVE bracelet
In DEMAND

TIFFANY NECKLACES

Bring back that 2000s nostalgia! You know what they say, trends come in 20-year cycles. We are here for the return of Tiffany and we predict the revival of this beloved brand will only stir more hype in the years to come. The Tiffany x Supreme collaboration just might be the best we’ve seen yet (Nylon).

The Growing Value Of Tiffany Necklaces

The valuation for the Return to Tiffany Oval Tag Choker necklace increased 17% from 2020 to 2021. The valuation for the Heart Tag Toggle necklace increased 13% from 2020 to 2021.

Tiffany Oval Tag ChokerTiffany Heart Tag Toggle

The Growing Value of Tiffany Necklaces

In DEMAND

Cartier Watches

Cartier watches have always been in high demand, but especially Cartier Tank watches. Since its creation, there have been so many iterations of the ever-so-classic Cartier Tank. Today the style continues to be a standout amongst other notable watch brands.

And with the Cartier Tank watch dominating the lists for top styles this year and last, it comes as no surprise that the demand for Cartier Tank watches increased, as well as searches for one, which went up 71% this year.

Stainless Steel 18K Yellow Gold 20mm Small Tank Francaise Quartz Watch
In DEMAND

ROLEX WATCHES

The Rolex name continues to embody prestige, even after 100 years since its inception. And due to its effortless association with status, luster, and greatness, Rolex is one of the most highly desirable and valuable timepieces in the world. Arguably, wearing a luxury watch in this day in age is a way of showing the world that “you’ve made it” (Refinery 29), and we totally agree. With Rolex being top of mind, we noted a 43% increase in average valuation from 2020 to 2021.

ROLEX Stainless Steel 36mm Oyster Perpetual Watch
In DEMAND

Hot Followed Items

These are the items to watch and most followed by our shoppers. They include the Christian Dior Lady Dior bag, the Prada Mini Re-Edition bag, the Fendi Baguette, as well as the Bottega Veneta Pouch and Padded sandals. Most of these styles are reemerging from the archives of fashion’s most-wanted list.

Other styles, like those from Bottega Veneta, are new hits that we simply can’t get enough of. It’s worth noting that we don’t often see a particular designer within the footwear category resell for more than 50% of the original MSRP. But Bottega Veneta has exceeded that. All thanks to Daniel Lee and his unique eye for puffy square-toe mules. These pieces fly off the shelves via pre-orders before major retailers and e-commerce sites have the chance to place bulk orders. Not an exaggeration. What will Matthieu Blazy dream up next?

Christian Dior Lady DiorPrada Mini Re-EditionFendi Baguette
Bottega Veneta PouchBottega Veneta Padded Sandals
Most Popular Textiles

CHANEL

Part of a sound investment is choosing what materials suit your lifestyle. Luxurious and long-lasting materials matter for FASHIONPHILE shoppers. From Chanel, handbags constructed of lambskin made up 29% of total Chanel sales at FASHIONPHILE. But over a third of our total Chanel sales were handbags constructed of caviar leather, a signature calfskin leather that is durable and iconic to Chanel.

Compared to other frequently used textiles such as tweed and canvas, 87% of Chanel handbag purchases this year were items constructed of lambskin, goatskin, and calfskin collectively.

Caviar leather made up 34% of total Chanel sales at FASHIONPHILE.
Most Popular Textiles

Louis Vuitton

77% of total Louis Vuitton handbag purchases this year were made of coated canvas, making up the majority of products sold this year – and we all saw this coming.

Louis Vuitton Monogram, Damier Ebene, and Damier Azur patterns are timeless. They’re extremely durable and designed to last for years. But most importantly, coated canvas styles from Louis Vuitton continue to hold great resale value even worn, which explains why these pieces remain so highly desirable.

MonogramDamier AzurDamier Ebene
Best-Selling Color

HERMES

Are you, or someone you know, a first-time Hermes investor? If so, consider an item in the color Etain, which is the best-selling color followed by Gris Mouette and Gris Perle. And it just so happens that the Birkin bag is the most popular style in the Etain color!

Togo EtainSwift EtainEpsom Etain

Etain is the best-selling color.

Best-Selling Colors

Of All Time

Speaking of color, across all brands and textiles, pink, white, and taupe grew the most in popularity from last year, with black, brown, and red scoring the top spots in color performance this year.

No.1 BlackNo.2 BrownNo.3 Red

1st Place: Black, 2nd Place: Brown, 3rd Place: Red.

Fine Jewelry & Watches

In the fine jewelry space we’ve seen an uptick in searches for rose gold pieces as well as a hyper-focused trend in blue and green dials for designer watches. The growing prevalence of these noteworthy colors have definitely captured our attention and the likes of ultra-luxury shoppers.

The Sustainable Mindset

Luxury handbags are 200% less likely to end up in a landfill and 260% less likely compared to fast fashion.

The Sustainable Mindset

Luxury handbags are 200% less likely to end up in a landfill and 260% less likely compared to fast fashion.

1 MILLION ITEMS RESOLD

Since our founding, we have resold over 1 million ultra-luxury handbags and accessories. Our commitment to resale and reducing fashion’s negative impact has resulted in countless gallons of water and carbon emissions saved.

With that said, we’re proud to have acquired 44% more gently-used items and 64% more new condition-rated items this year than last. We know that when it comes to creating new products, leather production is the third most environmentally impactful material to produce (Collective Fashion Justice).

But with 1 million ultra-luxury products resold by FASHIONPHILE, we have saved the equivalent of 1,580 metric tons of CO2 emissions. And that’s not all. Based on the water footprint of raising cattle for leather, one leather handbag requires about 17,128 liters of water (Circumfauna.org). That amount is the equivalent of about 450 showers for the average American. In reselling, we have saved the equivalent of 450,000 gallons of water.

Now with the global market for pre-owned luxury goods worth an estimated $30-$40 billion, resale over the last decade has become increasingly more popular, more sustainable, and is now considered mainstream.

1 Million Items Resold Saved The Equivalent Of.

BUYING LUXURY IS SUSTAINABLE

Our study with Kantar earlier this year revealed that buying a luxury handbag is the most sustainable choice.

Why? Because 92% of luxury shoppers believe that it is important to shop for accessories that will last a long time. It’s pretty clear that accessories with longevity don’t end up in the landfill.

Length of Ownership

3.68 Years

Average length of fast fashion handbag ownership.

33

Intend to keep their luxury handbag for more than 10 years.

Ben Hemminger

"Consumer demand is shifting towards sustainability. The secondary market not only helps extend the lifecycle of better-made products, but at FASHIONPHILE reselling luxury accessories is a way to incentivize our customers' sustainable choices."

- Ben Hemminger, FASHIONPHILE CEO

COST & CARE

And aside from luxury shoppers keeping their items for longer, they are also heavily driven by brand values and cost, so it makes sense that they’re also likely to invest in life-extending repairs and to seek end-of-use alternatives from the landfill, such as reselling, gifting, or donating.

Roughly 77% of luxury handbag owners take initiative to properly care for their investments.

THE RESALE CYCLE

Luxury shoppers with a sustainable mindset (about 69%) are more likely to research the brand before they buy, learn about the expected life of the bag and materials, as well as its resale value. Many of our sellers, while educating themselves in resale valuations, actively purchase new at retail with the intention of selling to us for a profit – all while contributing to a sustainable resale cycle.

With our shoppers and sellers participating in the benefits of resale, we hope to encourage more individuals to partake in the dialogue and do better to improve the circular economy, thus benefiting the environment and ensuring a better future for all.

Though intentions for reselling vary for luxury handbag shoppers, they largely intend to use the proceeds to buy new bags.

The Retail x Resale Balance

Retail can thrive alongside resale. Why? In our case, it’s quite simple. The business of reselling luxury handbags and accessories for the purpose of buying something else from the proceeds gained is a cycle both the Capital King and Mother Nature are quite fond of.

Selling with us in-person at one of our Selling Studio locations is revolutionary in so many ways, but especially from a shopping perspective. We get your bag, you get paid upfront, and when you choose a Neiman Marcus gift card as payment you get 10% more added. We are the only luxury reseller that has joined forces with a major retailer. As a whole, we’re honored to work together in harmony to make the joy of selling and shopping possible all in one trip.

But here’s where it gets better. This continuous pattern of selling and shopping eliminates luxury handbags and accessories from ever ending up in a landfill. Since our partnership with Neiman Marcus, we’ve saved thousands of items from entering the landfills from our Selling Studio appointments alone.

FASHIONPHILE Selling Studio at Neiman Marcus.
Sarah Davis

"This partnership is a win for the customer who is looking for a quick and easy way to liquidate those luxury investments they’ve made in the past. It’s a win for Neiman Marcus who is happy to offer ways for the customer to spend those gift cards inside their stores. And finally, it’s a win for FASHIONPHILE who is always looking to buy more of the best products from the best closets."

- Sarah Davis, FASHIONPHILE Founder & President

The Rise of Gen Z in Resale

The pandemic no doubt has also changed the way e-commerce operates. As stated in Forbes, “online retail sales as a percentage of total retail sales were sitting at around 19% in February 2020. A year later, it had skyrocketed to close to 35%” (Forbes). With people spending more time on their phones, particularly on social media, it makes sense why our revenue skyrocketed from just social media alone – not including revenue generated from other channels.

We have Gen Z to thank for contributing to that. Both in the number of transactions, but even more so in the amount they’re spending and what they’re searching for.

Our largest demographic has and continues to be between the ages of 25-34. But a significant portion of our revenue this year came from Gen Z, customers between the ages of 18-24. In 2021 this group generated 5x more orders compared to 2018. Although not the majority of our shoppers and sellers, we can only anticipate that Gen Z will grow in the next few months and well into next year, considering the percentage nearly tripled. Back in 2019, just 8% of our sellers fell under 25 years of age.

Top Search Terms for Gen Z
The 18-24-year-old customer group frequently searches for Chanel, Birkin, Gucci, Goyard, and Prada.

The Big Spenders

As we observe the growing participation of Gen Z shoppers and sellers with FASHIONPHILE, it’s worth noting their increase in average order value over the past few years.

Average order value for FASHIONPHILE customers under 25 years of age increased 48 over the past 5 years.

Despite age, however, the average order value hasn’t fallen below $1500 nor exceeded $2000, hinting at a sweet spot when it comes to ultra-luxury investments across generations.

Gen Z spent over 5x as much this year compared to 2018.

Afterthoughts

Afterthoughts

SHOP SELL REPEAT

The pre-owned luxury market allows fans of ultra-luxury to acquire pieces that are valuable to them, as well as sell their gently used pieces for a profit.

At FASHIONPHILE we take pride in making ultra-luxury as accessible as it can be, as well as a sustainable way to acquire the luxury products we all know and love. Buying and selling designer items is a never-ending sustainable cycle, as well as an enjoyable (guilt-free) experience.

Coming Up in 2022

In 2022 we have so much to look forward to! As the original innovator of ultra-luxury resale since 1999, we are excited to be involved in the establishment of our first-ever independent Selling Studio, which will be located in Los Angeles in ROW DTLA.

In addition to that, we’ll be opening more Selling Studios around you!

Next year our headquarters will be expanding into Chelsea New York City planting its roots within the Starrett-Lehigh building, a 60,000 sq ft facility that will provide not only more dream jobs but also make it possible to provide more buying and selling opportunities for you.

Are you ready to shop and sell with us? Visit www.fashionphile.com to get started today! Shop. Sell. Repeat.

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