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Sign upSeptember 26, 2022
Kering
Singapore
Balenciaga is officially launching its "Re-sell" program, allowing customers to drop off unwanted clothing and accessories from the brand at select stores by appointment, or opt for a home pick-up service. Once collected, the items are authenticated, photographed, and listed online for resale. Following a successful pilot, the Kering-owned brand has entered into a formal partnership with Reflaunt, a white-label resale platform, in which Balenciaga CEO Cédric Charbit is also an investor. Reflaunt organizes the resale process through its network of 25 partner marketplaces, including Vestiaire Collective, Tradesy, Rebelle, The Next Closet, and Hewi. Founded in 2018 in Hong Kong, Reflaunt also works with brands like Ganni and Net-A-Porter and has the backing of organizations such as the New York Fashion Tech Lab, LVMH's Maison des Start-ups, and investors like Charbit.
Founded in 2018 in Hong Kong, Reflaunt also works with brands like Ganni and Net-A-Porter and has the backing of organizations such as the New York Fashion Tech Lab, LVMH's Maison des Start-ups, and investors like Charbit.
With the emergence and acceleration of fast fashion, we have been buying more than ever before, yet treating clothes as disposable items. The average consumer today buys 60% more than 15 years ago but wears them for half as long. It is estimated that 33% of women wear items in their closets for as little as 5 times before disposing of them. The current system is broken. The fashion industry is the second most polluting in the world, yet we still overproduce. Despite the amount of resources utilized for clothing production, more than 70% of garments end up in landfills or incinerators. We have finite resources that we are feeding to an industry that goes from manufacturing to waste. We need a more sustainable model of consumption to avoid a global disaster. Reflaunt provides resell as a service to brands and retailers. Its disruptive circular model allows customers of retailers to resell, donate or recycle their past purchases in a click directly from retailers e-commerce site.
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