There is a new way to do away with last season’s bags.
EBay (EBAY) -), the online marketplace enabling users to buy and sell everything from electronics to cars, is making it easier for fashionistas to part ways with their pre-loved designer items with the launch of their new luxury consignment service.
The new feature will connect users with expert sellers who will sell their designer pieces on their behalf through a seamless and insured process from start to finish.
Related: New report shows how much shoplifting and crime really hurt company profits
EBay has partnered with Linda Lightman, the founder of luxury consignment retailer Linda’s Stuff, to power the service at launch. In a statement, eBay noted her 20 years of experience on the platform and her “unrivaled expertise” with designer goods.
The service will initially launch for designer handbags by brands such as Louis Vuitton, Hermès and Chanel, however, they plan to expand into more categories such as jewelry and watches starting next year.
EBay has been making leaps in establishing itself as a trusted marketplace destination for style-conscious shoppers. Recently, they expanded their authenticity guarantee program to cover pieces from coveted streetwear brands like Off-White, Kith and Supreme, and acquired Certilogo - an AI-powered authentication provider used by many designer fashion brands.
More Retail:
- ‘Too pretty’ Home Depot worker faces backlash after viral mirror post
- A classic kitchenware brand files for Chapter 11 bankruptcy
- Who’s running The Gap? With no CEO, retailer hurtles towards crisis
Additionally, the site also launched their Certified by Brand feature, which allows for brands and their authorized resellers to sell directly on the marketplace.
EBay global general manager of luxury Tirath Kamdar said in a statement that the introduction of the consignment service builds on its efforts to legitimize their platform as a trusted marketplace and that their “top priority is to respond to the ever-evolving needs of our customers, and continuously delight luxury shoppers and sellers.”
Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.