I couldn’t be more excited to share our big news with you. You’ve been with us for so long and really are the heart of what we do, so I wanted you to hear it from me first.
I type this with actual tears in my eyes: FASHIONPHILE has officially partnered with Neiman Marcus!
While we’ve been bootstrapped since our founding, Ben and I realized that this had to change in order to continue to grow and provide the best possible experience for all of you in this increasingly competitive landscape. When we began our outreach efforts looking for a traditional partner, we had no idea that we would end up where we are today. This is truly a dream come true, not only for us personally, but for all of us here at FASHIONPHILE.
Neiman Marcus is an iconic luxury retail brand. Their CEO, Geoffroy van Raemdonck is transforming Neiman Marcus Group into a digital luxury platform that provides luxury customers access to exclusive products, unique events, and intuitive solutions to anticipated customer needs. We are a part of this transformation. Our partnership with Neiman Marcus is a historic move because of what it means to the entire “recommerce” category. Neiman Marcus is the first major luxury retailer to expand into the pre-owned market, and they’re doing it with FASHIONPHILE. That is huge. ICYMI, used really IS the new new!
When we started FASHIONPHILE twenty years ago, the stigma of pre-owned meant that we occupied a relatively niche category frequented mostly by you early adopters and loyal fashionphiles who ‘get it.’ But as the years went by... you told a friend, who told some friends. And it only took a matter of time until the pre-owned revolution entered mainstream culture. Back when we launched, you had three options in your hunt for that amazing, nearly new, authentic ultra-luxury handbag: your local consignment store (still a fan!), eBay and FASHIONPHILE. But since then, there has been a tsunami of additional players in the recom world. In fact, 64% of women have already bought or are interested in buying secondhand products. And despite growing at 21x faster than the traditional broader retail market, the category is only just now coming into its own.
But we are setting our sights even higher! By partnering with Neiman Marcus, we’ll continue to redefine the future of the luxury retail market. Together, we will reimagine how both buyers and sellers participate in luxury and drive increased access to the most coveted brands on the planet. The ability to cash in on your luxury handbag and accessories investments puts more money back in your wallet for that next shopping trip - whether it be with Neiman Marcus or FASHIONPHILE!
Again, thank you for your support as we partner with Neiman Marcus to change not only the recom market but the luxury retail industry!