WALMART is partnering with luxury reseller Rebag to sell pre-owned handbags, jewellery and accessories online as the retailer looks to attract wealthy shoppers and fashion enthusiasts.
The goods from brands such as Chanel, Prada and Fendi are available starting this week on Walmart’s US website as part of the company’s marketplace of third-party vendors. The items, which are certified by Rebag, significantly boost Walmart’s selection of luxury merchandise. Prices range from hundreds to thousands of US dollars.
Walmart is looking to better compete against Amazon.com and other rivals by adding more brands, broadening its price points and entering new categories online, such as refurbished electronics and collectible sneakers. Walmart’s e-commerce sales have been growing rapidly in recent quarters.
Michael Mosser, vice-president at Walmart Marketplace, said that the company seeks to carry a deeper selection of products and curate hard-to-find items for enthusiasts. The partnership will give the company more merchandise from high-end brands such as Louis Vuitton, Bottega Veneta and Saint Laurent.
Rebag chief executive officer Charles Gorra said the partnership will help his company to reach more consumers and expand its geographic reach.
He added that consumers are looking for value and making more online purchases, which is helping fuel the resale market. However, that sector’s growth has moderated since the pandemic.
Walmart’s stock has risen about 70 per cent over the past 12 months as more US consumers turn to the company, known for its slogan of “everyday low prices”, for groceries and other necessities. The retailer has traditionally struggled to attract wealthier shoppers and integrate fashion brands, but it has found more success recently by touching up stores and adding more premium goods.
Marketplace has emerged as a growth driver for Walmart, allowing the retailer to sell brands it historically has not sold. It’s also adding income for Walmart via related services such as fulfilment and advertising. BLOOMBERG
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