German luxury fashion eTailer Mytheresa has teamed up with resale platform Vestiaire Collective to enable its top clients to sell their pre-loved items in exchange for store credit.
The program aims to cut down on the time consumers typically have to spend waiting to get paid for the products they have sold. It speeds up the process by providing customers direct price quotes and then giving them store credit as soon as the item is quality checked and authenticated.
The offering is currently only being made available to customers in Europe. Eligible items that are accepted under the program include handbags from a list of 20 luxury designers. The two companies are planning to expand the service to include a wider array of customers, designers as well as product categories in the near future.
Mytheresa’s move to partner with Vestiaire Collective follows Alexander McQueen’s recently launched “Brand Approved” program, which enables a select group of clients to receive store credit in return for garments, accessories and shoes from previous collections.
The move also follows a resale trend that many high-end designers are finally making an effort to do their part.
The service offering launches today.