Kardashian Kloset takes on the resale market
The Kardashian-Jenners are tapping into the burgeoning US secondhand luxury market with a new venture that will open their closets to the public.
The Kardashian-Jenners are launching Kardashian Kloset, a resale e-commerce platform that will start by listing pre-owned items from their wardrobes, including clothing, shoes and handbags.
Their endorsement could help the resale market gain credibility in the eyes of the consumer.
At 9 a.m. PST on Friday, the closet doors open. Fans of the Kardashian-Jenner family will be able to get their hands on around 250 pre-owned items coming directly from Kris Jenner and her daughters’ wardrobes through Kardashian Kloset, their new luxury resale venture. Initially the e-commerce site will only stock items belonging to Kris Jenner, Kim Kardashian West and Kylie Jenner. Khloe Kardashian, Kourtney Kardashian and Kendall Jenner’s pre-loved clothing and accessories, including handbags, shoes, sunglasses and costume jewellery, will follow in weekly drops.
“In the United States, resale is the hottest ticket now, it’s the thing to do,” says Cynthia Bussey, Kris Jenner’s cousin and a recurring character in the family reality TV show Keeping Up with the Kardashians, who closely collaborated with Jenner to launch Kardashian Kloset.
Kardashian Kloset is the latest in a series of lucrative businesses for the Kardashian-Jenner family, whose members have mastered the art of leveraging their names to sell products.
In the US, resale is booming. The country’s total secondhand market, which includes resale, thrift and donations, is forecast to increase from $24 billion in 2018 to $51 billion in 2023. According to the 2019 Fashion Resale Report by Thredup, the US resale market has grown 21 times faster than traditional retail apparel in the last three years.
Future product drops will also be announced that way. Prices will appeal to both aspirational and luxury customers, with items ranging between $20 to $9,000 for the first drop.
“First and foremost, we will start with the five girls and Kris, and then we could branch out into further collaborations like kids’ clothing,” says Bussey, adding that more used items could come from the closets of North West and Kourtney Kardashian’s daughter Penelope.
While resale is often marketed as a sustainable option, resale customers primarily shop secondhand to gain access to luxury products for less. “Typically, buyers in the secondhand market are people who don’t have access to buy full price and sellers are people who use the money to buy new fashion luxury items,” says Olivier Abtan, managing director at Boston Consulting Group. According to Abtan, with their millions of followers, celebrities like the Kardashian-Jenners have access to communities that includes both.
As the celebrity-owned beauty brand space grows more crowded, exemplified by the recent launches of Lady Gaga’s Haus Laboratories, Millie Bobby Brown’s Florence by Mills and Victoria Beckham Beauty, the resale market represents a new and less saturated playing field for celebrities eager to expand their business footprint. According to Marc Beckman, founding partner and CEO of advertising and representation agency DMA United, the resale market will also benefit from celebrity endorsements. “Influential celebrities can instantly eliminate the stigma attached to the secondary market,” he writes via email. “The Kardashian’s participation, if executed properly, will certainly accelerate acceptance and sales of previously owned and used merchandise.”