Rebag has found a way to clear out excess inventory.
The new Rebag Outlet operates on the Rebag.com site, and offers off-price designer items at up to 80 percent off retail price points. The outlet store began operations earlier this week. All outlet purchases are considered “final sale” items and cannot be returned. Outlet purchases also do not qualify for Rebag’s buyback program.
“The outlet will sell one-of-a-kind designer styles from Rebag’s 25,000-plus inventory, including bags, watches, fine jewelry and accessories,” the resale firm said. Brands that will be included in the outlet’s inventory include Dior, Gucci, Prada, David Yurman and Tiffany & Co., among others.
Rebag buys used designer items from customers who wish to trade in their goods, often so they can then buy a secondhand item from the retailer’s inventory. It’s not unusual for customers to become repeat sellers and buyers as they tire of an item and look to refresh their closets.
According to a Rebag spokeswoman, nearly 1,000 items were made available for the outlet’s launch, with new items expected to be added every week.
“Our outlet items, all of which are vetted and approved by our in-house team of experts, are one-of-a-kind styles that are priced exceptionally in accordance with their unique character—often at lower price points, especially in comparison to retail. Pricing is dependent on the exact condition of the item and the current demand for it,” the spokeswoman said.
Charles Gorra founded Rebag in 2014 and is the company’s CEO. A digitally native brand, the company has since opened several brick-and-mortar locations in cities that include Manhattan, Los Angeles and Miami. While handbags were its first secondhand category, the firm last year expanded its merchandise assortment to include designer accessories, such as sunglasses, scarves and belts.
Last year, the company closed on a $15 million Series D funding round. Earlier this year, the brand launched Clair AI, a proprietary database containing identification codes for high-value handbags to help identify and price a bag in seconds.