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What's Next for Fashion Resale with Fashionphile Founder Sarah Davis
Description
This week our guest is fashion resale pioneer Sarah Davis, the Founder, President & CCO of Fashionphile, the leading purveyor of preowned ultra-luxury accessories.
We learn all about Fashionphile's 20+ year journey from scrappy boot-strapped start-up to its break-through partnership with Neiman Marcus. Along the way we learn the ins-and-outs of retail recommerce, what's driving its growth, how COVID affected its evolution and what it will take for all the various resale models to succeed in the future. In addition, we discover Fashionphile's remarkable track record of year-over-year growth and--brace yourself--profitability, as well as plans to add 10 more Neiman Marcus locations by early next year.
Then we wrap up the episode with our fast-paced weekly segment “Remarkable or Forgettable?” where we give our hot takes on retail headlines, and deem them wow-worthy, best ignored or somewhere in between. This week's big stories include earnings from other resale brands ThredUp, Poshmark and the RealReal, as well as Canada Goose. Victoria Secret spin-out and prospects for a revival, JC Penney's updated prospects.
As the very first ultra-luxury re-commerce brand of its kind, FASHIONPHILE is the brainchild of Founder and President, Sarah Davis. Like most of the brands we love best, FASHIONPHILE began in 1999, with little more than a good idea. In 2006, Sarah introduced business partner & CEO Ben Hemminger, who evolved the brand by expanding the collection and presenting it to a larger market. Over 20 years later, FASHIONPHILE is now one of the world’s top resellers of pre-owned luxury and the exclusive re-commerce partner of Neiman Marcus.
In the words of Geoffroy van Raemdonck, CEO of Neiman Marcus Group, “FASHIONPHILE’s hyper-focus on curating high-quality supply and providing best-in-class shopping experiences makes it the ideal partner.”
When Neiman Marcus calls you ideal, you blush and just, well, let it in.
Steve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.
Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global E-Commerce Tech Talks and The Food Professor with Dr. Sylvain Charlebois. You can learn more about Michael