The RISE of Preloved: *PROOF* THE BRANDS ARE GETTING NERVOUS.
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- Опубліковано 11 вер 2024
- Join me in this video where we explore the rise in preloved luxury fashion - including information on how the brands are starting to pay attention!!
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Hello friends, I hope you all enjoy watching this! I just need to correct a mistake I made - I spoke about the Balenciaga scandal as being at the end of 2023. I'm getting my years mixed-up! It was 2022! Enjoy xx
No problem Sophie, I do the same. I get 2020-2023 mixed up too (I think it was cos of the pandemic messing things up)
@@scruffyo4460 I think you’re right, the years after 2019 are a blur for me now 😅 Hugs!xx🩷
A number of vloggers are talking about Vestiaire Collective being a scam. You should look into other vloggers' videos.
Sometime people are selling their bags because they fell into hard times and need the money. They should be able to sell their bags for what ever they want. 😊
Every time I am in Japan, I go shopping for pre-loved bags. Get pre-loved bags now before these greedy brands stop or make it difficult for those resellers to sell. These days, brands' quality/craftsmanship don't match their prices. I am not surprised LV and Dior are losing - aren't they own by the same man? Who happens to be the richest man on earth.
Oh real. Japanese condition grade standards and price according to the grade are absolutely the best!
I’ve followed this *suluxs* on UA-cam for a while now, very informative and interesting analyses.
Compared with other handbags, carrying such a bag is more cost-effective and more comfortable, and you won’t have to worry too much about theft or other accidents when traveling.
Hi Sophie…but I’m sorry these big brands have done it to them self… I worked in retail for 34 years & have never seen such ridiculous price rise…I’ve started looking on pre loved market also as before never did…I just wanted to add also that once I buy an item it’s mine to do what I wish with it… weather I keep it for ever or decide to sell it… let’s keep in mind our circumstance might change or just don’t use it…whatever the reason…who are they to tell me what to do with my items….we have to stop giving so much power to these brands & stop them trying to control us❤
What I love about pre-loved is you can snag a style you couldn’t afford in the past and that is no longer made. I just got a 2014 Chanel boy with the embossed oak and acorn pattern that I could have never afforded at the time, and for less than the original price.
Vintage is the way to go, great quality 😍
If you can’t resell a bag people will be less likely to bite the bullet in the boutique.
Preloved bags can be better quality anyway. Lots of the bags out there now aren't as high quality as they used to be, but the prices are only going up. At a certain point you're just paying for the in-store experience and the box.
In my opinion, so many of these giant fashion houses did it to themselves. If you lose 40+% in value when you take it out the store, that's worse than a new car (common stat is 10%).
So they're mad cuz shoppers are informed consumers? 😂 This is why the luxury market is losing customers. They treat their customers like idiots. Shame on them all.
If they hadn’t got so astronomically greedy with their margins in such a short space of time and focussed on exclusivity instead this wouldn’t this wouldn’t have happened.
Don’t forget QUALITY
I recently retired shall we say from sourcing deep vintage pieces( 1920s to 1970) for health issues. I knew this was coming from a MILE away. The amount of money I could be making now is mind numbing. Look for older pieces from the 50’s and 60’s . I really feel that this is when construction and workmanship was at its best. I have 2 original 2.55 bags that were designed by and probably handled by COCO herself. When the originators of the houses were still the ones in charge is when the work was at its best. The house that comes closest to its roots and is still around is Farigamo. Other than that, find small houses with royal warrants from their home countires.
Ive seen gucci bags from the 60s and they’re gorgeous. Takes quiet luxury to a whole new level
That's really cool honestly. Thanks for sharing. I will keep your comment in mind. I wish you good health soon!!
*esluxscom* I think the idea of bags is fashion, which not only makes women more beautiful, but also supports them mentally and makes them more confident.
The higher end brands are having price increases frequently to the point pre-loved handbags may not be so affordable. However, pre-loved can be less expensive on various brands regardless of a financial investment or long term investment. I’m at the point of looking for quiet luxury items that have better quality and much cheaper.
You make great points here!!xx🩷
@@SophieShohetOfficial I also don’t think breaking the bank is necessary for the brands with frequent increases.
%1000 this. I don't think pre-loved will be affordable either for Chanel, Dior, etc...
There’s only so much people are willing to spend on pre loved bags. Which makes the argument of investment bags nil.
Honestly, I don’t get why people still want these bags. They are not worth the money. The quality is atrocious. You don’t get decent repairs nowadays with a lot of them and the treatment you are getting isn’t luxury at all.
Bags and clothes shouldn’t hold a big value no matter what brand is. I don’t see that those things should be investments.
Brands definitely feel threatened by the pre-loved trend as they will lose their sales if more and more people turn to buying pre-loved only. Not sure how they will try to control it to be honest. Time will tell.
Take care. Have a great week 😊
I just got a Lady Dior in Hawaii for almost 7k. My sister bought an almost identical one for 2k. Secondary markets are the way to go. ❤
I agree with you wholeheartedly Sophie and I'm delaying going to the actual main stores and looking into preloved stores so much more. I lost my job in 2023 and haven't touched any of my planned savings because I want what I want and know if I spend it, I won't get side tracked.
P
I have thought this for years now. With the head of LVMH being one of the richest men in the world, it is obvious the markup is excessive. The explosion of luxury prices, esp bags reminds me a great deal of the Tulip Mania of the mid 1600s. The price has exceeded the quality, and with large corps now owning the once prestigious houses, I think it is only a matter of time before they collapse in popularity and price. Very curious what that will look like and who will remain, or if there will be a new group of fashion visionaries.
That green ferragamo bag is awesome. If you want a statement piece that is definitely it!
People buy the same bags now a days so it is nice to see a pop of colour and something different that looks good.
Ferragamo also still have craftsmanship and great quality of materials. It’s the bag one should want to be honest
I love the green bag. It would be perfect for St. Pat's Day. (Jan Griffiths).
I don’t want to wear Balenciaga either. After what they did. And yes it’s right the brands don’t hold its value. I’ve experienced it myself many times.
I am a preloved buyer only so many bags already in the world 🌎
Hi Jaks! I love you only buy preloved - me too💕😄
Same here. (Jan Griffiths).
That is also happening with more discrete brands like Fratelli Rosetti or Bally. Their bags are amazing, with excellent quality but at a price. Their second hand value is very low and they do poorly at the moment to sell them.
Lots of people are wearing Balenciaga. All over Europe people are wearing city bags. Just today there’s a vogue article about Kate Moss wearing one recently.
There was a period where I wasn’t seeing much of it but in the last year, definitely seeing a lot of people with them as well. See it in London, Asia and a lot in LA!
I still buy fendi from the stores despite being half off on fashionphile. but i'm only going to buy certain special versions that are unlikely to show up on preloved or the outlet. If i want a basic peekaboo i might go the the preloved route.
Also despite all their special protection around the bag, it hasn't prevented the preloved market from being made up of a lot of Birkins & Kellys.
i hope the preloved trend will force slow fashion, regardless if it's luxury or mid-range brands. for me, chanel is a overpriced fast-fashion brand - they have like 8 collections a year or more and the quality is 💩 how are they different from zara?
I hope it slows down. Is the quality getting that bad?
My biggest worry about pre-loved is accidentally buying a fake. Even on sites that verify the origin I read about it happening all the time. It’s just so much easier to just buy something in a store and know it’s the original. But the prices really are prohibitive for new bags.
Or buy non designer brand bags. Go to Italy or Europe for hand crafted bags, good leather etc for a fraction of the price and get a holiday whilst at it
@@tuttuttut7758 I do! I have lovely non-brand bags. ☺️
I noticed you can get second hand Chanel 10-20 year old classic flaps in mediocre condition (or maxi/jumbo sizes not the trendy medium or small) for like £1.5k (at least in my country). I recently got a second hand o case (medium) for about £300+ and it came with the dustbag, box, card, hologram etc
Your video is the first thing I look for on Wednesdays and Sundays here in California! Thanks for sharing your perspective. So many points to consider! ❤
They will fail. A person’s property is theirs to sell. Counterfeits are a different matter though
Hi Sophie, and all, as a vintage handbag seller, I can tell you that the vintage market has tanked and is extremely volatile. As you can experience from Sophies Valentino glasses. Even Chanel sunglasses are a steal online. I think brands are really flopping and floundering on their campaigns. And it’s having a big affect. So just keep looking for those deals out there! And Sophie is right when she says you can get a huge deal from Louis Vuitton’s preloved online. Happy shopping everyone.
im thanking people are snoozing on dior because it makes it better for me
How is this any different to buying a brand new car, most cars as soon as u take it of the showroom lose value. So u want to buy a brand new car or pre loved. Handbags are no different. Theirs nothing special going on with handbags that doesn't happen to other commodities. Personally pre loved has taken of more now because people are struggling financially for the most part
I have 3 preloved and 1 brand new. Like you said I was looking for years past versions, even back to YSL’s Niki 2016 (to get it in navy blue). I really couldn’t care for the exclusivity game of Chanel & Hermès
I might get laughed at but I'd say, those vintage Coach 2000s fabric/leather shoulder bags are so cute and well made. They look exclusive, not like the current Coach bags with the big C buckles (that really spoils it, at least for me).
Interesting. It feels like the luxury brands have pushed their prices up so far they are losing their market. Can't feel sorry for them tho lol! I was going to tell you, Sophie, I was scrolling through Instagram and there was a fake Chanel bag for sale with the cc's on the front, the chain handle, everything. I think they wanted something like $149 for it or thereabouts. That seems illegal to me, but I guess only if they get caught. I like your new throw pillows btw!
I love binge watching your video’s. And definitely we would love to see more video’s about classic bags or what to do when u r looking to buy ur first designer bag.
Such an interesting and insightful video, Sophie! The two vintage Chanel bags you featured in the video are absolutely stunning! x
I would love more videos about classic bags ❤
I have a collection of luxury bags and have been collecting for quite a while. I realised the preloved market was quite profitable as a side hustle as far back as 2016 where I would resell on eBay or VC. I tend to stick to mainly LV because they were more affordable and retained their value better. I have noticed that the preloved market has slowed down quite a bit. Preloved bags have gone up in value and are not shifting as fast as they used to. Now in the UK there is what I call the 'eBay' tax on sales over £1k in a tax year.
What a great topic! I think many of us stopped playing those crazy price increase games with luxury brands. In the past I was only looking n realreal for those bags that I missed and wasn't able to get anymore. Now when I want new color in Chanel I'd rather get it preloved. My only issue is authenticity of those preloved bags. Last week I got preloved chanel mini and had to ship it back because the structure of the bag was so soft almost questionable, but the quality of chanel went down so who knows that might be the real bag...One time I've got preloaded unworn pink dior slides and they were fake so I had to ship those back. It's great if you already own few bags of the brand you are gonna buy preloaded so you can compare those side by side making sure you are not getting scammed. Preloved is the new "new"❤
Hi Sophie, great video and some interesting points. I agree that the kudos of pre-loved items is rising and I hope it continues, I love being able to search sites for something that I missed out on. I love your spy bag and that was a great price for Farfetch. ❤
As it becomes more and more and more fashionable, the second hand prices will start going up and then skyrocket. Eventually, new may be cheaper, like Birkins! LOL! I suppose it all comes down to fashion and the market. I cannot stop mixing up the pandemic years! Thank you for the video!
Loved this video! (Also love the vintage Spy Bag, the lilac Fendi backpack and the Ferragamo!)...in terms of how designers will react...they can't and won't lower the prices they've created with the Lady Dior, the Chanel Flap, etc....what I've noticed that LV has started doing to attract more middle-income consumers is create a wider variety of "meh"-looking bags (often very small) at a lower price point. They're not as covetable as the major classics (which will continue to see price hikes), but people will be able to buy a piece of the brand, and designer houses will stay afloat. (But at what cost in terms of their quality, resale value, etc?!, as you say!)
I think brands are going to attempt to tamper with the second hand market to increase the value of their bags. I think brands like Chanel will re invest in buying their old stock and destroying it.
My thoughts are that these price increases make bags unusable and undesirable to me personally. I want to be able to use a bag and enjoy it but with a price tag of 5k or 10k or more that is just not going to happen. They are just bags after all.
Love you thoughts on the topic. Sorry if you got my comment twice I am not sure where the first one disappeared to. Lol x
Wooooo Ok finally actually watched the video the whole way through!
I just don’t understand how the luxury houses are surprised that they are now losing customers to the thriving pre-loved market. It’s laughable 😂
And further to that, Louis Vuitton particularly shoots themselves in the foot by re-launching styles that were previously on sale years ago and currently available on the pre-loved market at a fraction of their relaunches. An example is their new Vibe bag which is almost identical to the old Viva Cité mm. Vibe is 2-3 x the cost of a pre-loved Viva Cité!
Another example is their relaunched Ellipse in 2022 (I think?) In 2023 I purchased a pre-loved Ellipse pm from Japan for under $300 inc tax and delivery. It’s an almost identical bag, from 1998 in perfect condition!
LV think they are capitalizing on the pre-loved market by re-hashing old designs, but in reality all they’re doing is STRENGTHENING resellers/resale! They completely miss the point that most of us buy pre-loved because it’s cheaper! 😂
Thanks for a video as usual Sophie, and I find this topic particularly interesting as an avid customer of preloved lux! ❤
People just have to start buying handbags because they love them. Period ❤️
Same with houses 🤑🤑
Hi Sophie I am no longer buying any bags
You help to make my Wednesdays great! 😊 hope youre having a great day it's been raining here for 3 days straight...very London weather but i dont mind rain ☔ we'll have some amazing flowers 💐 because of it...take care You Dave & the Bunnies 🐰
Hello my friend! Ahh I am with you on the rain, it doesn’t stop here, literally!!! We even have a bit of flooding in places, I hope we get a good summer and this isn’t ‘it’ now 😭 You’re so lovely! I really appreciate that you enjoy the videos, and that you watch - thank you! 🙏😘🩷xx
i went to dior to see the lady diors, I felt bad telling the SA no thank you I'm just here trying to decide on the size and not ready to buy. because we all know its way cheaper in the resell market. I'm sure she knew but didn't tell her that. why spend full retail when I can get it at a way better deal
If they’re gonna raise and raise prices, their quality better match that. I’ve been to Chanel and a bag I really wanted had a crooked flap. Like are you serious? And they were really pushing me to buy it, but I don’t care if it’s the last bag. Buying a misshapen bag at their ridiculous price just enables them.
I have worked as a stylist and personal shopper. louis vuitton, chanel and hermes are so much easier to buy in Norway. rarely waiting lists and they are never sold out for trend bags. it has made it easy to find bags and clothes for people in other countries.❤
I think it's not about whether one can afford brand new or not; but rather.. Why spend more of your hard earned money (way more) when you can spend less for something that is basically the same thing? Of course one will do it's due diligence and find a bag in good condition. It's about being smart with money and making it stretch more.
Pre-loved = HIGH quality
Brand new = MID quality
I was never a fan of preloved to be honest BUT I have been through a change in my mindset lately. The brands reputation has been damaged by all the scandals (e.g. Loro Piana, Balenciaga etc.) , they are really unethical towards the environment and towards workers and suppliers, they raised their prices but lowered their quality.
I really see no appeal anymore, I prefer smaller brands like polene or byfar now and I like buying vintage because what’s the point of supporting the brands that exploit so many people… we glorified them too much as consumers.
I am also disgusted by the thoughtless overconsumption that’s beeing pushed in social media amongst younger adults with temu, shein and beauty products. It’s so much plastic and waste for nature… nobody needs 6 stanley cups and a 1.000€ Shein Haul with faulty clothes that rip after one wear made of polyester. It all gets dumped in Africa so I am very pro preloved now.
Fascinating. Love this subject matter and the business side of luxury. Great video, Sophie.
Waiting for @CassieThrope to reply! Color, style, shininess: yes. Just needing that TBE. ☺️
I am sure she has the mini of this green bag!!!
For me i only want the Karl Lagerfeld Chanel , every thing from this era is the best
It is good for the environment when folk buy second-hand stuff.
People don’t care about things being purchased “New” anymore and would rather skip walking into a brick and mortar store having to deal with a gate keeping SA.
I just bought a VCA holiday pendant preloved, because their holiday pendant operates like Hermes quota bags (i.e. need a spend history) and I didn’t feel like playing the game at yet another brand. Safe to say I’ll never buy preloved again, even if the item is brand new. I bought it from farfetch, the shopping process was smooth, delivery was fine, but the experience as a whole was just not luxurious. To me luxury shopping encompasses the shopping process, the environment, the service, the packaging, the after sale care, etc. it shouldn’t feel like buying on Amazon. I ended up taking the necklace in for alterations, and the service I received at VCA was truly stellar, so I’ve set up a profile and will be shopping from the boutique only moving forward. I’ve tried the preloved thing, and found out it’s absolutely not my cup of tea.
Dear Sophie, what is this hooodie/blazer combo you are sporting? Looks so smart and I would love to take inspiration from you for work etc. Good topical video as usual, love these,!
I love this informative video! I would like to hear more about this subject; the fashion houses have lost their minds with all the price increases and frequency. I sincerely hope the price increases backfire on them. I have 11 Chanel handbags in my collection that I love, BUT I don't know if I will be adding more because of the insane prices now; my favorite Chanel bag is the classic flap! Oh my! I always love your video's even though I rarely comment. I truly love handbags. 😊
I’m going to try to sell a lovely pink Balenciaga bag. Hope someone forgives the brand their terrible marketing tactic.
Honestly it might be a split between buying vintage being the gateway to buying retail and skipping the buy an affordable brand like coach. It might also mean that you buy vintage and you don’t ever need to buy retail. I’m glad that the resale market exists. I personally think it leads to lifestyle bloat, where I can’t go back to buying bags for 40 dollars.
This is also happening in the luxury watch market. For THIS reason, Rolex bought two of the biggest horology retailers in one buy- Bucherer (2023) [who owns Tourneau - massive resaler of luxe timepieces]. In this way, they can control the pricing for a nice chunk of the market. There is still so much out their for sale and demand is low low.
Great coverage and agreed! Interesting times for sure!
Hello Sophie! Loved your small vintage Chanel and that green Salvatore F. bag, wow what a beautiful shade 😍💚👌🌸🌞.
Agree with you about this topic
YESSSSS another Sophie upload! ❤️
Hello lovely!xx
Excellent 👌🏻 video 📼📼📼 of yours my Dear friend Sophie ❤! I would insert also Chanel as loosing their exorbitant price as soon as you step out of their boutique. And I totally 💯 👍🏻 share the fact of going to luxury second hand market as the majority of these high ends brands have raised their prices in an unjustified manner. But as our common wages did not increase 📈, as you were saying, then we are all ‘pushed’ to go to the preloved route 🛣️. I humbly do not think 🤔 that these brands will take immediate action to stop 🛑 this now, but might be thinking 🤨 as a common way to do so in the next future maybe 🤔 with a collective ‘class action’ grouping multiple of these high ends brands that are impacted by the second hand sales (loss of sales for them).
To be honest it took me some time to accept pre love items. Mainly bc of the authenticity, how the previous owner used it, whether there's any mold issues previously (it will come back even if you remove it), and if there's any odour. The pros is trying out a bag at little or no loss! Xoxo
The second hand markets are not for paying top dollar. Even the King's best clothes are not as remotely expensive as these unfounded price points in mass luxury.
But It sounds like the marketing departments are terrified of the Hans Christian Anderson child.
What a well researched video! I had no idea that the drops in prices were so significant for particular brands- Dior was most surprising. Do you think they’ll start microchipping bags so that people who resell aren't allowed to purchase anymore?
Most of the prices are ridiculous now, many buy these bags expecting to sell it and get back maybe 70% of the money as they think prices in the secondary market are correlated with the brands price increases. Once they know this is wishful thinking unless it is a certain sought after Birkin/Kelly, these customers give up buying into these ridiculous prices considering the drop in overall quality.
That green one!! Wow! Beautiful
One thing which initially drew me to pre-loved, was the speed at which brands cycle bags. As someone who had to save to buy bags, there were a few bags which I simply could not afford before the bags were no longer available from the brands. My collection of McQueen Story bags, as an example. They were completely out of my price range when they were in season, back in 2019-2021, so they were an impossible purchase. It took me years afterwards to find the bags I had been looking for. Though the benefit was that they now cost less than if I had been able to afford them new. So that got me thinking, you know what? I'll just wait until they come on the pre-loved market. And if I find them, great. If not, I guess I wasn't meant to have it.
I go after rare collectible pieces and those are still so expensive!
Be very very careful buying pre love , many resellers sells real and fakes all together
I think the fact that average people, middle class consumers, are telling the brands what for is us nudging them to change tactics. Their prestige often falls off due to ugly controversies they ignore. Things I would have wanted ten years ago are a joke to me now. The quality is also a bit of a joke. They should get it together.
ETA I also see that they don't know squat about post-sales authentication. There are services. There's also repair services. Why buy new when you can get a wonderfully worn in item and give it a bit of a boost and still have spent less than new. It's silly
My prediction is that brands like Chanel and maybe Hermes but def Chanel will start selling their own pre loved bags so they can again try to regain control of their bags and name. I’m sure they will fight this in the courts how oreloved is damaging their name but ultimately I think the era of luxury is over brands like Chanel are refusing to go down without a fight. They have come to the end of the road. They might still exist at a much smaller capacity like selling to the rich rich but I predict they will never be. giants again.
No one can stop you selling anything you own. Perhaps 'they' will just start leasing them to you for your lifetime.
You will own nothing and be happy 😉
What brands are worth investing in? Other than Hermes and Chanel . Fendi?
“As their prices have increased to…crazy” 🤣
I don't buy luxury bags unless we lump COACH in the mix. But I do browse and appreciate quality bags. I don't see how Hermes or Chanel can legally shut down the pre-loved market. They could shut down a retailer who sold counterfeit bags if they could prove it was with intent or carelessness. The only worry would be that the resale retailers had no desire to spend big money on lawyers and courts and shut themselves down.
Maybe they should stop overpricing their bags.
The CLASSICS will always hold on a pre-loved market - that's what you should go for.
100% agree with all points raised.
The Real Real is on the stock market. Interesting article published by Morningstar about financial health of TRR.
NGL: I’ve always loved the Balenciaga city bag maybe since 2007? and I’m seeing prices drop so much I’m now looking to purchase
I see nothing at all bad about buying pre-loved. It's the best way to get an item in great condition ( most times) that is no longer made in many cases, and you don't have to pay exorbitant prices for them. I buy pre-loved often when I do buy. Quality is often much better in older items than what is being made today. These older items have stood the test of time, and have many a year left in them. (Jan Griffiths).
Oooooh that 1994 bag- love it. I love the squarish shape to it, looks so cool
Hello my friend! Yes I’m a big fan of it, I love that it’s had a life before me and I wonder the kind of person who bought it from new ☺️xx🩷🩷
Wages have gone up.
Love the green bag💚😊
that green bag is ❤ xx
Hey Sophie 🥳
Hi Sophie! You were talking about how no one wants to wear Balenciaga anymore but there are more and more influencers posting about the brand and using it? It would be interesting to think about when do we forgive a brand and when is it okay to buy from the again after a big scandal.
The key point is that “influencers” and celebrities are wearing it because they are getting paid. However, if you look at Balenciaga online- they now go on sale up to 70% off. The resale market sells a city bag for $300-500 in the us. This indicates that consumers in general are not wearing the brand which is bad for business.
that’s a very valid point! I was quite disappointed that A LOT of my favourite influencers on Instagram started promoting Balenciaga and I unfollowed some because I thought “wow where are your morals? You couldn’t say no to this paycheck?” but didn’t have the heart to unfollow some others because at the end of the day they have to make a living.
@@kirshannmarcusmake a living, but at what cost🤔. We all have a duty to make sure 'others' learn a lesson and don't follow suit.
Great topic.
I don’t understand why the luxury brands don’t invest in the preloved market.
Mulberry do, they have a pre-loved site, and even some are in store. I got one in the Bond Street store (sadly gone now 🤔) a few years ago. Lovley SA called olie, helped me out.
Maybe they should stop raising their prices.
I think most of the brands cut corners (quality depts went bye bye) and got greedy thinking we would purchase based on their name only . This certainly seems to be the case with Chanel. I don’t feel sorry for Greedy people. The price hikes are unwarranted and the whole exclusivity/scarcity thing is a joke because their all popping up on preloved sites. Your bag is exclusive yet your on Fashionphile 👀🙄Make it make sense.
designer bags are sooo over no one wants them anymore.. people go for low key
I go to Japan for pre-loved
It is a Cassie bag, i thought the same Too....🎉Ev