As its name suggests, Rebag launched as a resale site for luxury bags six year ago. But today, the brand wants to take over a larger share of customers’ closets by offering clothes, shoes, jewelry, and accessories from top high-end designers.
Over the past decade, luxury resale has become a booming $32.61 billion global industry, with sales expected to hit $51.77 billion by 2026. Online consignment shops like TheRealReal and Vestiaire Collective allow consumers to buy and sell a wide array of luxury goods online, while the company takes a commission on each sale.
Rebag stands out from these competitors because it owns all the inventory on its site, allowing it to control more of the resale process, from photographing products and shipping them to customers. It is also more selective than these other sites, carrying a smaller number of high-end brands like Chanel, Gucci, and Celine. Rebag buys products directly from clients online and in-person at its retail locations in New York, Los Angeles, Miami, and Greenwich, Connecticut.
Charles Gorra, Rebag’s founder and CEO, says that with this category expansion, the site will carry a few more brands specific to shoes, like Yeezy and Air Jordan, as well as clothes, like Canada Goose and Moncler. “We’ve always been very selective about what we carry,” says Gorra. “But we realize that to grow we need to expand into more categories and brands. We want to do this while ensuring that every product is in the best condition and the highest quality.”
With its $33 Series E funding last year, Rebag has been doubling down on technology. It also has an app that uses millions of data points to allow people to take a photo of a luxury bag in order to identify its market value. As Rebag expands into these new categories, it wants to continue gathering data about these new categories and will use this new product knowledge to make pricing, authentication, and logistics more efficient.