Rebag is known for its reselling of luxury handbags. The retailer is trying something new by opening a new Rebag Bar in New York City. Currently, the retailer has physical stores in Los Angeles, Miami, and New York.

The Micro-Store

The Rebag Bar will be just 180 square feet. It will be in the Shops at Columbus Circle in New York City.

The store will have the full range of Rebag categories, including accessories, fine jewelry, watches, and bags. A curated selection of items within the various categories will be on display at all times. Customers will also be able to visit the Rebag Bar and browse the entire inventory digitally.

As with its larger locations, customers can also sell their luxury items at Rebag Bar. This process should take less than an hour at this new location.

The Goal and Reasons

According to the Rebag founder and CEO, Charles Gorra, this is one of Rebag’s ways to “democratize luxury sales.” Gorra acknowledged the significant changes that COVID has brought to suburban and urban shopping. The new format will allow for a hyper-local approach and also make it easier for Rebag to roll out more micro-stores in the future.

Other Changes This Year

Rebag only recently added the categories of fine jewelry and watches in fall of this year. Last May, the retailer received Series D funding of $15 million. This was particularly noteworthy given the struggles of other retailers during COVID.

Other Stores in the Resale Market

In addition to Rebag’s hopes for success with its micro-store, experts predict that the resale segment of apparel will grow. This contrasts with other segments of the market, which have struggled and included many bankruptcy filings. Despite those struggles, ThredUp recently estimated that by 2029, the resale market would be worth $44 billion.

Sources:

https://www.retaildive.com/news/rebag-opens-micro-store-in-nyc/592327/