Yahoo Finance Valentino Unveils Vintage Project
V FOR VINTAGE: Valentino wants to take a slice of the booming resale and vintage market.
Confirming a July report in WWD, the Italian luxury house and its creative director Pierpaolo Piccioli forged partnerships with a number of vintage stores around the world.
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Owners of Valentino vintage pieces will be encouraged to submit them to the boutiques in exchange for store credit to use on new Valentino collections.
The project, Valentino Vintage, kicks off today with the launch of a dedicated section on the Rome-based house’s website where owners of vintage items can liaise with the four international boutiques involved in the project. They include Madame Pauline Vintage in Milan; New York Vintage Inc. in New York; Resurrection on Los Angeles, and Laila Tokyo in the Japanese capital.
After contacting the vintage store and submitting images of the pieces, owners of Valentino vintage garb are provided a valuation upon which they can make their decision and after an in-person meeting and sale they are offered store credit to use on new Valentino collections at select flagship stores in the same cities each vintage seller is located.
During the second phase of the project, which will kick off in January 2022, vintage stores will offer their clientele the selection of Valentino vintage items they have accumulated. More details on this phase were not provided.
As Valentino already has structured and expansive archives, this project is meant to create a cycle of loyalty and added service to its customers in light of Piccioli’s goal of syncing Valentino more with the times while maintaining its codes.
The house sees the project as tapping into the circular fashion model. To be sure, sustainability is a key topic for the brand, which has increasingly been focusing on environmental issues, announcing in May that it would go fur-free starting from 2022.
The majority of luxury brands have remained on the sidelines of the resale market, fashion’s fastest-growing segment, which is expected to double in the next five years to reach $77 billion by 2025, according to resale marketplace ThredUp.
Before Valentino, other fashion brands that recently entered the secondhand market included Jean Paul Gaultier and Gucci.
SEE ALSO:
Valentino CEO Jacopo Venturini on Growing, Repositioning Couture House
EXCLUSIVE: Jean Paul Gaultier Ventures Into Vintage Rentals
Why Luxury Brands Are Sitting Out the Resale Market Boom
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