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How The Luxury Closet advocates the transition towards a circular economy

ADVERTORIAL
By Sponsor

9 Jun 2021

Fashion

One word that adequately describes how consumers today, particularly younger generations, seek to change the fashion narrative for good: sustainability. Following the rise of fast-fashion business models, which focus on low prices, high collection turnarounds and cheaper materials, the negative impacts of overconsumption are being seen and felt around the world. For example, a 2018 study from the United Nations found that the fashion industry generates up to 20% of global water waste and approximately 21 billion tonnes of textile waste. It is also responsible for 10% of all annual global carbon emissions - more than all international flights and maritime shipping combined. As fashion brands and retailers continue to grow, consumers demand that these players make sustainable changes within their business models, from the raw materials they source to produce their garments to the end of their lifecycle.

At the same time, sustainability is shifting the way consumers buy and sell fashion. Other business models which focus on conscious and responsible consumption are gaining traction. There has been a resurgence of interest in second-hand fashion, as it promotes sustainable purchasing habits while diverting garments that may have ended up in landfills. Pre-loved fashion also gives consumers access to specific garments or brands they may not have been able to purchase brand new. Focusing on the importance of buying less and buying better, second-hand fashion platforms like The Luxury Closet help increase quality item's longevity while advocating the benefits of a circular economy. A pre-loved luxury fashion platform, The Luxury Closet is dedicated to changing the way people view luxury consumption. Centred on the belief that when people purge their wardrobes of unwanted clothes, others can benefit, the second-hand platform focuses on high-end luxury garments, bags, shoes, fine jewelry, watches, accessories and homeware. A market leader in the Middle East, The Luxury Closet is slowly making a name for itself across the globe as it focuses on legacy brands, investment brands, and trending brands.

As a global second-hand marketplace, The Luxury Closet helps users around the world sell and purchase their pre-loved luxury fashion and homeware items. Offering a 100% authenticity guarantee, the in-house team of experts at The Luxury Closet verify the authenticity and condition of each item before they are put up for sale. Users can effortlessly switch between buying and selling roles without any hassle, making it easy to sell and buy second-hand luxury pieces such as shoes and handbags. Working with a systematic pricing process, every single luxury item is priced according to condition, style, material, brand value and resale value. This ensures buyers and sellers benefit from the fairest price while becoming a ‘Re-Fashion Hero.’

By selling and shopping pre-loved high-end items with The Luxury Closet, consumers prolong the lifespan of the items while reducing the number of new products purchased. The VIP Concierge Service offered by the platform caters to luxury enthusiasts who are to selling more than five items at a time, and for those seeking to sell high-value luxury items, further promoting the idea of buying less, choosing well and making it last. In addition to contributing and promoting the benefits of a circular economy, The Luxury Closet has implemented other sustainable practices to make an even bigger positive impact. This includes switching out plastic bubble wrap for stuffing and cushioning products to recycled paper, moving to a paperless invoice system and taking a sustainability pledge to resell, reuse and rejoice. At the same time, The Luxury Closet continues to work tirelessly to raise awareness on issues surrounding overconsumption while promoting the benefits of pre-loved shopping during these unprecedented times. The online luxury platform swiftly adapted to new protocols introduced following the outbreak of the global pandemic COVID-19 by changing how its teams work in-house and prioritising the safety of its employees and customers. Shipping worldwide, The Luxury Closet ensures it maintains its sustainability values, even under such circumstances.

With the fashion landscape shifting towards positive change, The Luxury Closet encourages consumers to become a ‘Re-Fashion Hero’ and take an active role in eradicating overconsumption and the exploitation of resources, while advocating for circular fashion in the most stylish way.

Based out of Dubai and founded in 2011 by Kunal Kapoor, The Luxury Closet is a leading online boutique for buying and selling new and pre-loved luxury items like handbags, clothes, watches and jewellery. With more than 40,000 unique items as part of our selection, we feature top luxury brands such as Louis Vuitton, Chanel, Gucci, Hermes, Rolex, Cartier, Van Cleef and Arpels and more. We accept items and deliver globally.

From a three-member team to nearly 150 now, The Luxury Closet holds this special mix of driven individuals very close to its core value. Our team of global contributors spread across 16 nationalities continuously thrive to add, improve and disrupt the online business strategy model.

The journey of The Luxury Closet started the day we sold our very first Hermès Birkin, and rest, as they say, is history. We are now supported by the strongest VCs in the region, who are helping us build a large sustainable business.

Sell, shop, and partner with us. Join us in building the biggest luxury marketplace in the Middle East.

www.theluxurycloset.com