WHAT'S THE STORY
The Future – Why?
REVERSE RETAIL
“ACCEPTANCE INCREASES DAILY” Overflowing wardrobes are the hunting ground of Reverse Retail. Via its Buddy & Selly brand, the company buys high-quality used clothing directly or at special events at fashion retailers. Anyone who would like to own such a pre-loved piece, buys it from Vite En Vogue, also on platforms such as eBay. style in progress sat down with Managing Partner Marcus Schönhart, an experienced manager who previously worked for Peek & Cloppenburg and Katag, to talk about the positive effects of circular fashion. Interview: Kay Alexander Plonka. Photos: Reverse Retail GmbH
Retailers who collaborate with Buddy & Selly have an argument against the full wardrobes of their customers. Why is it so important for retailers to make space in those wardrobes? Because everyone wins. It makes it easier for customers to part with their old pieces when they receive a shopping voucher from the retailer on the spot. Retailers can increase customer loyalty and generate additional revenue. Last but not least, we open up a new procurement source. In the US, buying a piece of clothing often already includes the possibility to sell it on at a good price down the line. The US wedding market serves as an extreme example. The resale proceeds are actually part of the wedding budget. Can we expect that ownership will merely be a temporary factor in the future, even in the case of everyday clothing? The US is usually ahead of us. Nevertheless, this does not apply to every form of fashion. Wedding attire is expensive, is only worn once, and hardly changes in terms of fashion grade – the best conditions for a resale. We deal exclusively in designer and luxury fashion whose half-life is considerably longer than that of cheaper brands. The truth is that the attitude towards owning something is changing dramatically. Good for us, as the acceptance of circular fashion increases daily. Do you observe that customers are refocusing on brand and quality products with a view of reselling them later? The awareness of brands and quality is growing worldwide. The revenues and profits of luxury companies are eclipsing anything that has ever been seen before. That is a turbo for us. To what extent the resale value is considered from the outset can only be guessed. For our customers, it is a welcome additional income. 154
style in progress
Marcus Schönhart is the Managing Partner of Reverse Retail, which operates Buddy & Selly, a purchasing platform for designer and premium fashion, and Vite En Vogue, a sales channel for pre-worn items.
Why do Vite En Vogue customers choose second-hand goods – just because they are less expensive? An essential element is sustainability! Since we don’t produce our range from scratch, there is no production-related environmental impact. Could circular fashion diminish the willingness to pay the high original prices for designer and luxury brands? The underlying psychology is different. When I buy the original products, I want to be at the forefront of things. Being the first person to possess the latest product conveys knowledge, money, and prestige. This motivation is not impaired by circular fashion, but is supplemented in a meaningful way.
