NEW YORK November 18th 2020: FARFETCH Limited (NYSE: FTCH), the leading global platform for the luxury fashion industry, has today announced the launch of FARFETCH Second Life in the US. This follows the successful launch of a pilot in Europe in May 2019. The program will enable consumers in the US to trade in their designer handbags for credit to be used towards future purchases on FARFETCH.
Interested consumers can visit the user-friendly site at http://www.farfetch.com/positively-farfetch/secondlife to submit information and photographs of the bags they would like to sell. These are reviewed by FARFETCH’s partner, who will offer a price within two business days. If the price is accepted, the bag is sent for verification, free of charge. Once verified, FARFETCH immediately credits the consumer’s account with the offered value, which they can use to purchase new items on Farfetch.com.
FARFETCH Second Life helps consumers extend the useful life of unused handbags in their wardrobes. It’s a key part of Positively FARFETCH, the company’s mission to become the global platform for good in luxury fashion – empowering everyone they work with to think, act and choose positively. Together with brand and boutique partners, the company is revolutionizing and reinventing the fashion industry for the future, in a way that benefits consumers, people and the planet.
In addition to FARFETCH Second Life, in the last year alone, the company has launched a series of product features and campaigns helping its consumers to shop more sustainably. These include:
- One of luxury fashion’s best selections of conscious products, made with positive environmental and social standards
- The FARFETCH Donate service (powered by Thrift+), which enables consumers to make hassle-free donations and receive FARFETCH credit in return
- A Fashion Footprint Tool to help consumers easily identify how they can help the planet with their wardrobes
- Climate Conscious Delivery which makes every consumer delivery from FARFETCH.com carbon neutral, combining our work on packaging efficiency, renewable energy and carbon offsetting.
Giorgio Belloli, Chief Commercial and Sustainability Officer said: “The luxury fashion industry is increasingly aligning with sustainable fashion. Like the online luxury market, the pre-owned luxury market is growing rapidly and is forecast to reach $64 billion within the next five years. After the successful launch of the FARFETCH Second Life pilot program in the European market last year, we are excited to bring this service to our consumers in the US.”
Thomas Berry, Director of Sustainable Business said: “Extending the useful life of fashion items is absolutely critical to the sustainability of the industry. Enabling services, like FARFETCH Second Life, that make it easy for consumers to do this, also offers an attractive opportunity to engage luxury consumers to shop with FARFETCH. We’re thrilled to scale this model globally and are looking forward to expanding the categories consumers can give a second life to.”
In addition to the US launch, consumers in Europe will now be able to shop from localized versions of the FARFETCH Second Life website in the following languages: German, Dutch, Spanish, French, Italian, Danish and Swedish.