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‘Cudoni and the World of Luxury Resale’

‘Cudoni and the World of Luxury Resale’

Moving, it’s one of life’s inevitable pain points. As the realisation of packing years of belongings into boxes dawns, what should be an exciting time, soon becomes incredibly taxing. Suddenly, as you stare into your closet, you ask yourself, “I have how many pairs of shoes?” or “When was the last time I wore that?”. In this fast-paced world, where time is the ultimate luxury, our capacity to streamline those overfilled armoires inevitably gets postponed, as other demands take the spotlight.

Reselling pre-loved items can be a long and complicated process; with hidden sales fees, photographs to be taken, listing descriptions to write and sold items to handle and ship. Not to mention the predictable back and forth with potential buyers looking for their next bargain.

That’s where Cudoni comes in.

Based in London, the centre for luxury shopping, Cudoni is the easiest way for busy people to sell their pre-loved luxury items. Their end-to-end service is designed for complete convenience for those who just don’t have the time. You’ll notice the Cudoni difference from the moment you make contact. Each client is assigned their own personal account manager to guide them through the entire process, dedicated to saving their customers time while going the extra mile for sales. Cudoni’s team of luxury goods experts handle the entire selling process; from professional photography, authentication and valuation, to handling and shipping.

Cudoni strives to deliver exceptional sales results through extensive market research and in-house developed valuation technology. The team go above and beyond to secure a sales price on average 30% higher than if customers were to sell the same item themself. From Cudoni’s experience, Chanel, Hermès, Louboutin and Rolex perform exceptionally well on a global scale, with Chanel handbags topping the chart as the current most popular pre-loved item to sell.

Owing to the retained desirability of luxury products, wardrobe detoxing and style overhauls are fueling a new surge of growth in the global resale market. According to ‘Fung Global Retail’, the apparel resale market is predicted to be worth over £25 billion by 2021, growing by 10% annually. Much to the delight of sellers, it is expected that pre-loved items will form, on average, 11% of wardrobes by 2027 based on current growth in market share according to ‘ThredUp’.

Cudoni posits that such increasing demand for pre-loved items is a particularly positive sign for those living in London; where individuals often have greater access to exclusive luxury products, in addition to a wider variety of heritage and boutique brands. Already, Cudoni has witnessed a dramatic growth in clientele over the past year and an impressive 300% increase in average basket values.

With ‘McKinsey & Company’ expecting the clothing market to grow overall at an annual rate of 3.5-4.5% in comparison, it is unsurprising that the resale sector has seen an unprecedented amount of investment. ‘Fung Global Retail’ report that investors have already poured over £335 million into resale companies over the last five years. Cudoni alone, for example, have successfully raised £575,000 in funding from high-caliber investors such as Giles Brook, CEO of Vita Coco, and Matt Cooper, Founder of Capital One and Chairman of Octopus Investments.

For many, moving marks the start of new horizons: a growing family, a new career, or a place to call home. As we step forward in different directions, growing as individuals, some of our belongings or past styles may no longer suit our change in lifestyle. However, that is not to say that our once-loved possessions no longer hold value.

Cudoni ensures that luxury items continue their life in good hands, whilst giving you much needed time and space to update your wardrobe. If you are in the midst of moving or just looking to downsize, Cudoni is the perfect service to help you focus on your next phase in life.

If you are looking to sell pre-loved luxury items, you’re in safe hands with Cudoni. Visit www.cudoni.com or call +44 (0) 20 3823 6093 to start your Cudoni luxury resale journey.

Source: https://www.fungglobalretailtech.com/research/online-consignment-market/

Source: https://www.thredup.com/resale

Source: https://www.businessoffashion.com/articles/news-analysis/the-state-of-fashion-2018

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