Luxury brands marketplace Farfetch has announced two new initiatives to tackle the issue of sustainability in the fashion industry, including the launch of a pilot re-sale programme called Second Life.
The scheme allows customers using secondlife.farfetch.com to trade their designer handbags in exchange for credit to be used towards future purchases on Farfetch. Users visiting the site will be able to submit information and photographs of the bags they are selling. This will then be reviewed by Farfetch’s partner, who will propose a price within two business days. If the price is accepted, the consumer schedules a free courier pick-up for the bag to be sent to the team to verify. Farfetch then adds credits of the value of the offer to the customer account, for the consumer to purchase new items on Farfetch.com.
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The pilot has been developed in partnership with one of the partners from Dream Assembly – the technology incubator programme launched in 2018 and will be open to customers in the UK and other European markets.
Giorgio Belloli, chief commercial and sustainability officer, says: “Luxury fashion is increasingly aligned with sustainable fashion. Resale is an area of increasing interest for our customers. Like the online luxury market, the pre-owned luxury market is growing rapidly and is likely to double in size to reach $51bn over the next five years. A luxury re-sale programme like Farfetch Second Life, allows us to enter this market and test the demand of Farfetch customers for this kind of service.”
A spokesperson for Farfetch also confirmed to just-style the company has joined the Ellen MacArthur Foundation’s Make Fashion Circular initiative, which seeks to drive collaboration between stakeholders to create a greener fashion industry.
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By GlobalData
