Luxury Shoe Club launches women's footwear trading platform
Fashion tech startup Luxury Shoe Club (LSC) has launched a new platform for women to buy and resell luxury shoes.
Scott Van Valkenburgh of Luxury Shoe Club explains in a release, "When I saw how much money and time it cost women to sell their shoes on The Real Real, Poshmark and eBay, I wondered why women with the same shoe size couldn't just trade shoes they no longer wear with each other."
To meet that need, LSC is launching a new membership club and iPhone app where women can trade their luxury shoes. The service offers personalized shopping, express shipping, at home pickup, free boxes and a 7-day return policy.
Perhaps the most interesting feature about LSC is that women are paid up front when they put their shoes up for sale. LSC uses an algorithm that assigns fair market value for the pre-owned shoes. Sellers are then paid 50% in advance and receive the remainder when the shoes are sold. LSC essentially gives credit to sellers so they can continue shopping while they wait for their shoes to sell.
"We have completely taken the hassle and expense out of buying and selling pre-owned designer shoes," says Van Valkenburgh, adding that the site is for "women who love shoes, who want variety at a fraction of the cost."
According to LSC, the market for women's luxury shoes in the US alone is valued at $8.6 billion a year, while the resale market for designer shoes is now a $800 million business annually.
LSC is now available as both an e-commerce site and an app.
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