Luxury second-hand, a thriving market in the Principality
The clothes of the most prestigious luxury houses are increasingly found on the second-hand market, which is full of advantages. In Monaco, these shops are not new.
With the health crisis that has redefined our way of consuming, the second hand has a bright future ahead of it. According to a study by the American firm Boston Consulting Group, this market now represents 9% of the total luxury market. In Monaco, second-hand luxury is not a new sector, but it is attracting more and more enthusiasts.
Located on the border between Monaco and France, Odile Loeb-Flory's “Chiner Chic” boutique is overflowing with nuggets. "I've been around for 15 years but that doesn't stop the turnover from growing more and more," the woman who knows luxury fashion like no one has noticed that consumers are becoming aware of the value of things.
A demanding clientele
Odile offers pieces signed Chanel, Hermès or Valentino at more affordable prices than in stores, even if it remains a budget. If the products are of such quality it is mainly because they have never been worn or very little. A pair of new embroidered shoes from the Fendi brand is thus priced at €240 instead of €1,280. And the store manager knows it, "if customers come through the door, it's to have Made in France or Made in Italy". Exit the clothes made in China which "give skin diseases" underlines the head of the consignment store.
“Slightly capricious” customers is how Helen Rimsberg, who has run the three luxury second-hand shops “Le Dressing” for 20 years in Monaco, defines second-hand luxury buyers and resellers. She adds that here “you don't wear a piece of clothing twice, otherwise others may think you have financial problems. This market is therefore aimed at a wealthy clientele who wishes to renew their wardrobe. But it's also a gateway to the world of luxury for people who can't afford such new products.
Before being able to take pride of place among the articles of the “Le Dressing” and “Chiner Chic” consignment store, each product is carefully inspected. Non-genuine or poor quality pieces have no place in luxury second-hand.
>> READ ALSO: Impacted by the crisis, how can the fashion sector reinvent itself?
The quest for the exception
“At the beginning, people were a little hesitant to buy second-hand, but they all end up, even the richest, coming to buy. “Shopping in such shops is the guarantee of having a unique item, from an old collection and therefore sometimes unobtainable. The position of the Principality has something to do with it, "Monaco's luck is to have an international clientele that brings pieces back here" emphasizes Odile. Unique luxury pieces from all over the world can thus be found 40% to 70% cheaper in consignment stores in Monaco.
>> READ ALSO: Where can I buy sustainable fashion on the Côte d'Azur?
In her Ali-Baba cave-like shop, Odile also offers clothes that have survived the decades. A coat by Gianni Versace, a haute couture dress by Saint-Laurent, vintage pants by Thierry Mugler… The fashion enthusiast unearths these rare pearls directly in her clients' dressing rooms. Thus, we find clothes designed with beautiful materials such as crepe de chine, panne velvet and with embroidery, which is difficult to find today. More than vintage luxury, they are works of art. "You do everything in Monaco, you can't find a dress like that" rare pieces that recall the know-how of yesteryear.
>> READ ALSO: Is it so easy to adopt “eco-friendly” fashion?
- Prev
- Next
