The Booming Market for Your Hermès Hand-Me-Downs
Two years ago, Marie Green, a San Diego fashion stylist, was running out of closet space. She was spending $12,000 to $20,000 a year on high-end clothing, handbags, and shoes—but couldn’t wear it all. Then she discovered the RealReal, an online reseller of luxury clothing and accessories. “It literally changed my life,” says Green, who’s sold more than $50,000 of merchandise on the site and does much of her shopping there. Green, a former employee, continues to earn a stipend for referring consignment customers to the site. Last year she bought a limited-edition Louis Vuitton handbag for $1,495, about half the retail price. Green says she now spends from $6,000 to $10,000 a year on high-end clothing. “It’s a constant edit for my closet,” she says.
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