Balenciaga’s Resell Program Touts ‘Highest Payout’
Balenciaga is next in the luxury sweep to formally enter resale.
The fashion house’s pre-loved program officially launched Monday, in partnership with resale start-up Reflaunt. Cofounded by Stephanie Crespin, Reflaunt already partners with luxury purveyors like, most recently, Saks Off 5th, as well as Yoox Net-a-porter, Ganni, Mr Porter, COS, TheOutnet and Harvey Nichols. Just this year, the company scored $11 million in series A funding. Its differentiator is its resale button that integrates seamlessly on product pages and allows a brand’s customers to list items in a few clicks across some 25 resale marketplaces. Reflaunt handles the documentation, authentication, photography and merchandising of goods.
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And for their participation in the secondhand economy, Reflaunt users receive credits or a cash payout depending on the brand’s directive.
Everything from Balenciaga hoodies to boots are available for resale under its new Resell program.
On its website, Balenciaga touts five benefits for customers who choose to resell using this route: a seamless experience, highest payout, faster selling, instant reward for iconic pieces and circularity. As part of the program, customers can redeem a higher amount of credit to fuel new Balenciaga purchases in participating stores in Italy, France, the U.K., the U.S. and Singapore. Products can also be dropped off at participating Balenciaga stores or collected by a scheduled service available via Balenciaga.com.
Balenciaga did not provide clarification on the credit offered but a list of participating stores can be found on its website.
Given the value of Balenciaga goods across sites, the decision offers the luxury label a chance to recapture value. Calling it a “big year for Balenciaga,” The RealReal’s 2022 luxury report listed the brand among its luxury top 10 brand rankings, citing growth across a number of merchandise categories. Per the report, demand for Balenciaga sunglasses grew 42 percent, while men’s and women’s leather jackets (as part of the motocross trend) saw a 186 percent increase in searches. Bags were the top driver for gross merchandise value. YZY Gap Engineered by Balenciaga Part 2, which recently dropped, would also command a steep resale return on investment. (As WWD reported, though Ye cut ties with Gap, future releases that have already been created and designed are expected to hit stores during the fall and into 2023).
According to Balenciaga, the Resell program is designed to encourage the practices of reducing, reusing, and recycling and to reward clients for their participation.
