'Brand Approved' Supports Circular Practices in Luxury Fashion
Laura McQuarrie — February 16, 2021 — Eco
References: vestiairecollective & prnewswire
Brand Approved is the name of the new program from Vestiaire Collective and Alexander McQueen that supports the future of circular fashion and luxury. A select group of clients will be contacted by a sales representative at Alexander McQueen and they will have the opportunity to sell items and potentially get a buy-back price. Once the luxury pieces are authenticated, clients will get a credit that can be used to purchase new items from select Alexander McQueen stores.
The authenticity of a luxury brand item can be verified by its external NFC tag so that new buyers can shop from the Vestiaire Collective with confidence. These authenticated pieces can easily be found on the Brand Approved page on the Vestiaire Collective app and website.
Image Credit: Chris Moore, Catwalking.com
The authenticity of a luxury brand item can be verified by its external NFC tag so that new buyers can shop from the Vestiaire Collective with confidence. These authenticated pieces can easily be found on the Brand Approved page on the Vestiaire Collective app and website.
Image Credit: Chris Moore, Catwalking.com
Trend Themes
1. Circular Fashion - The Brand Approved program supports circular fashion practices by encouraging clients to sell their old luxury items and use the credit to purchase new items.
2. Luxury Buy-back Programs - The Brand Approved program offers a buy-back price for select clients' luxury pieces, creating an opportunity for luxury fashion brands to implement similar programs.
3. Authentication Technology - The use of external NFC tags to verify the authenticity of luxury items can be applied to other industries, such as the resale of collector's items or high-end electronics.
Industry Implications
1. Luxury Fashion - The Brand Approved program is currently exclusive to luxury fashion brands, but other luxury industries, such as automotive or jewelry, could implement similar circular programs.
2. Resale Platforms - The partnership between Vestiaire Collective and Alexander McQueen highlights the potential for collaboration between luxury brands and resale platforms, creating new opportunities in the fashion industry and beyond.
3. Consumer Technology - The use of authentication technology in the luxury fashion industry could inspire consumer technology companies to explore the integration of similar features into their product offerings.
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