- Kristopher Fraser
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In a very rare move for a fashion brand, Mark Cross has announced it’s
launching its own resale platform. Beginning this fall, consumers will be
able to bring in their pre-owned bags to be authenticated and sell them for
cash or store credit. After that, the products will move to the brand’s new
vintage storefront. The news was reported by Business of Fashion.
While Mark Cross products can be found on resale sites like The Real Real,
this makes Mark Cross one of the first brands to launch their own resale
platform. Resale is seen as a cash cow for brands right now, with the
global resale market outpacing retail. Resale reached a global market of 24
billion dollars last year and is growing 21 times faster than retail at
large as reported by Business of Fashion.
Even luxury department stores, like Neiman Marcus, have begun capitalizing
on the resale market. Last year, the company took a minority stake in
resale website Fashionphile. However, not all luxury stores and brands on
board with the resale model. Chanel has actually gone as far as to sue The
Real Real because they say they are the only ones who can authenticate a
Chanel product.
Mark Cross’s new CEO, Ulrik Garde Due, is looking at resale to expand the
brand’s business, in addition to newer categories jewelry, small leather
goods, and men’s products. The brand is also expanding in Europe and Asia.
photo: Markcross.com
