As more retailers join the sustainable and circular fashion trend, the high-end department store is enabling premium resale through its acquisition of the e-consigner

A first for the world of luxury retailers, Neiman Marcus has acquired stakes in a luxury pre-owned retailer: The department store now owns a minority stake in the fast-growing luxury pre-owned accessory platform Fashionphile.

While it is not yet known how much of Fashionphile Neiman Marcus now owns, the two retailers are getting to work on making premium secondhand handbags and accessories more accessible and less taboo to the luxury shopper. At select Neiman Marcus locations, shoppers will be able to have their handbags, jewelry and small accessories appraised and receive an instant pay out to put toward a day of shopping with the retailer.

This initiative from Neiman Marcus is also in an attempt to engage younger shoppers, with whom secondhand is continuing to grow in popularity due to their environmental and ethical awareness and concern. Further, the program serves to drive store traffic, encouraging shoppers to consign in person and shop in store.

Neiman Marcus

Fashionphile


Lead image: stock photos from Helen89/Shutterstock

A first for the world of luxury retailers, Neiman Marcus has acquired stakes in a luxury pre-owned retailer: The department store now owns a minority stake in the fast-growing luxury pre-owned accessory platform Fashionphile.

While it is not yet known how much of Fashionphile Neiman Marcus now owns, the two retailers are getting to work on making premium secondhand handbags and accessories more accessible and less taboo to the luxury shopper. At select Neiman Marcus locations, shoppers will be able to have their handbags, jewelry and small accessories appraised and receive an instant pay out to put toward a day of shopping with the retailer.