There are 2 major retail trends currently ongoing in the fashion industry: the resale of your major labels for extra $$s and purchasing those major labels for a bargain. There are of course some issues that can arise with either of these areas. A buyer wants to ensure they are not only getting a great deal, but actually purchasing a genuine article from a particular brand/label. A seller will want to reach a large market of interested buyers for as low a fee as possible. Right now, there is only 1 place that can offer buyers and sellers, for a few specific brands, the ability to sell for a low fee and provide 100% guarantee of authenticity to buyers-Lollipuff.
Lollipuff is an online auction site that pre-screens each and every item to guarantee authenticity. One of their main goals is to weed out the counterfeits, which is what other sites or consignment stores are unable to do in the same manner. Currently, Lollipuff works with 4 major brands-Herve Leger, Balenciaga, Chanel and Christian Louboutin. (click each of the links to see what amazing auctions are currently ongoing!!) There will be other brands added over time and those decisions will be based on what brands are in high demand and the desire to be resold. As I discussed with co-founder Fei Deyle, some brands that I think would make as great additions would be Tory Burch, Louis Vuitton or Michael Kors. So you might be asking, what is it that makes this site unique or how is the authenticity guarantee ensured?
The Lollipuff authenticity model is based off a non-provisional patented process that combines software and fashion brand experts. If a counterfeit is later discovered, Lollipuff offers back a full money back guarantee. Further, as sellers on this site are just as important as the buyers, the listing fee is only 7%. This is drastically lower than consignment stores and websites, which generally are 30-60%.
If you are interested in buying, the operation format is that of a 10-day silent auction. A potential buyer places a bid that matches or exceeds the minimum starting bid and after 10 days, the highest bidder wins. If there is no winning bidder, the item is available for immediate purchase to the 1st interested buyer. Click here for more information on the bidding process. Lollipuff offers great customer service as well and if you don’t believe it, click here to read through all of their rave reviews! There is also a good amount of press coverage as well-StyleCaster, Marie Claire, Forbes, etc.
PLEAES NOTE, ALL PHOTOGRAPHS ARE OF AUCTIONS THAT HAVE ALREADY CLOSED!!
If you are interested in selling on Lollipuff, or even buying, make sure to visit here to register. There is a different process for the various brands. Different articles require a minimum submission of photographs, which are used to verify the authenticity of the item. So if you are interested, get started by clicking here!
Also available on Lollipuff is a blog which discusses topics involving these various brands. CEO Fei Deyle, who has worked as an online authenticator and is an established authenticator expert in this area, heads Lollipuff. In fact, it all began from Deyle’s blog and selling some of her own Herve Leger clothing on her blog. She saw a need in the market and made the leap.
It’s a great action that was made by Deyle and Lollipuff has certainly experienced success already. The need for buying and selling these major brands is certainly not decreasing so I’m sure continued success is imminent. I look forward to following their journey, seeing what expansions are made brand-wise and perhaps even making a purchase myself at some point!
- The Ultimate Fashion Game: Are These Designer Items Real Or Fake? (stylecaster.com)
- A Site To See: The RealReal Lets You Shop Labels Like Chanel and Vuitton at a Steep Discount (stylecaster.com)
- Pros and Cons of Buying Fashion Brands Through Online Fashion Auctions (smackout.wordpress.com)