Luxury Resale as a Service
“Since the beginning of our partnership with PLG, we have seen a 96% increase from PLG’s consignment services compared to best traditional returns for both regular and faulty stock. They were quick to process and sell and we see PLG as a long-term partner for generating extra value from excess stock.”
About the brand
In 2021, Parker Lane Group partnered up to work with one of the world’s largest online luxury and fashion retailers. The retailer offers hundreds of international designer brands from all the major luxury fashion houses, including LVMH, Richemont and Kering.
PLG was able to help the online retailer with several specific complications surrounding:
• Faulty items
• Marketing exposure
• Catalogue
• Creating wholesale collections
• Sensitivity around pricing and marketing
As part of their first consignment deal, the retailer gave PLG a mix of luxury product at €2 million RRP.
PLG was able to overcome issues with IP (Intellectual Property) and value of stock to help profile and then resell excess stock and returns.
In response to each specific complication, PLG recommerced the retailer’s luxury stock using a wide range of wholesale channels, adeptly tweaking the supply chain to ensure fine quality control with targeted product marketing.
PLG’s partnership with the retailer yielded an increase on returns across all stock compared to best performance:
PLG will continue to partner with the luxury retailer in both the B2B recommerce market and with the launch of their D2C luxury initiative, rlvd.com.
As an extension of PLG’s full-stack RaaS solution, Reloved will act as a highly lucrative avenue for PLG’s partners to indirectly manage excess stock and Intellectual Property – two important value levers. The online marketplace will expand to outlet and eventually offer a rental subscription model.
Over the next three to six months, an additional increase of circa 130% is forecast due to continued collaboration with the retailer across both the D2C and B2C propositions.
PLG excels at fostering transparent, two-way relationships with brands and retailers and working together to find innovative recommerce opportunities throughout the luxury retail market.