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Rebag’s Charles Gorra Discusses the Power of Resale

Charles Gorra, founder and chief executive officer of Rebag, the digitally native luxury resale business with five stores, believes several massive trends are powering the resale market.
The first driver is that Millennials are seeking sustainable products; the second is value shopping, particularly after the recession, and the third is that the sharing economy is rising and people want to be asset-less. Witness the success of Lyft and Rent the Runway, he said.
“Consumers want to be smart with what they own,” said Gorra, noting that the resale market is becoming mainstream and heading to $40 billion by 2022. The current size of the resale market is roughly $20 billion.
Gorra believes that the trajectory of resale shopping is similar to what happened with online shopping 20 years ago. He recalled that in 2000 when Net-a-porter launched, people were skeptical about whether customers would buy luxury online. Fast-forward 15 years, and you see Net-a-porter, Yoox and Chanel investing in Farfetch .
“We think resale is going through some of these motions,” he said. “The same skepticism that was around online about two decades ago has somehow replicated itself in that theme. In reality, there’s been a huge shift toward the resale mind-set post-recession.”
Specifically, he

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Via:: https://wwd.com/accessories-news/handbags/rebags-charles-gorra-discusses-the-power-of-resale-1203099006/