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Preowned luxury fashion is booming in South Africa. Enter 'Luxity'...

2 July 2021 11:42 AM
Tags:
Fashion
Rolex
Louis Vuitton
Chanel
Luxury
Refilwe Moloto
Gucci
Breakfast with Refilwe Moloto
Luxity
Michael Zahariev
Cartier

Refilwe Moloto interviews Luxity cofounder Michael Zahariev.
  • Luxity is South Africa’s largest reseller of pre-owned luxury brands

  • It is not cheap – but it has many “aspirational” middle-class customers

  • Most of its sales happen online, but it has three physical stores (one in Cape Town)


Image by StockSnap from Pixabay.

Luxity sells preowned luxury fashion.

They have been in business for five years and grew by 63% year-on-year in 2020.

Most of its sales are online, but it has physical shops for customers who prefer to try on before they buy.

Its wares are not cheap, but you can lay by an item for a 25% down payment.

Luxity recently made the news when it sold a Hermès Birkin for R220 000, and there is currently a Cartier Roadster going for R299 000.

The cheapest item on the site on Thursday was R2500 for frames.

Customers can request certain items and get notified when it becomes available.

Refilwe Moloto interviewed its co-founder, Michael Zahariev (scroll up to listen).

Luxity is South Africa’s largest preowned luxury reseller. We buy and sell handbags, shoes, accessories, and watches from some of the world’s most coveted brands like Louis Vuitton, Gucci, and Rolex.

Michael Zahariev, co-founder - Luxity

We’re a ‘digital first’ company… We do have stores in Cape Town, Pretoria, and Johannesburg… Our sales happen primarily online… Every day we list more than 20 items on our website…

Michael Zahariev, co-founder - Luxity

We have the aspirational shopper, someone in the middle-class... They make use of our 60-day payment plan… Our fashionistas… buy some goods, wear them for three months, then swap them out…

Michael Zahariev, co-founder - Luxity

One day a lady came into our store with five Chanel bags… She bumped her boyfriend’s Porsche… she needed cash…

Michael Zahariev, co-founder - Luxity

We have expert authenticators… We do a microscopic analysis of the threading and materials…

Michael Zahariev, co-founder - Luxity



2 July 2021 11:42 AM
Tags:
Fashion
Rolex
Louis Vuitton
Chanel
Luxury
Refilwe Moloto
Gucci
Breakfast with Refilwe Moloto
Luxity
Michael Zahariev
Cartier

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