TrueFacet, the online marketplace for pre-owned watches and jewelry, is joining the world of full price.The digital marketplace is adding a new Brand Boutique platform to give shoppers access to select brand partners for jewelry and watches. The addition is in response to consumers’ request for “new,” according to founder and chief executive officer Tirath Kamdar. Consumers who head to the TrueFacet landing page can click on either the access button for the pre-owned marketplace or the one for the new boutique.Kamdar said the boutique initially has 16 brands, with half offering jewelry and the other half specializing in watches. The plan over time is to add new brands to the offerings, as well as limited product pieces and specially created “exclusive experiences” coordinated between TrueFacet and a brand partner. Some of the launch brands include Fabergé, Fendi, Les Artisans de Genève and Mimi So. Prices range from $1,000 up to $250,000.Kamdar began TrueFacet in 2014. Many of the brands that provide pre-certification of designer jewelry and watches on the resale side are now expanding their partnership to be part of the Brand Boutique category. The ceo also said, “Having a pre-owned certification can [command] a 15 percent premium for the item.”According to Kamdar, data from consignment on the site indicates that in “five years, more than 65 percent of jewelry and watches will be purchased online. This is a revolutionary movement for the $38 billion fine jewelry category.”Many of the site’s buyers are Millennials, with 28 percent of the traffic from those under age 30. Many Millennials are repeat buyers and sellers — they buy pre-owned, sell it later on and take the proceeds to buy something new that is also pre-owned. In contrast, older consumers tend to focus on selling their trophies of wealth.Kamdar said executives in the “luxury watch market are trying to figure out where the future growth will come from.” He has his views on what is the problem in the watch industry and why there is a general malaise in the sector.“There is a big disconnect among the Swiss and European firms on who is their consumer at retail. The problem is their customer is the retailer, and they don’t get a lot of data on the shopper who is the end consumer. So they make a lot of product, but they don’t get to see what it is the consumer really wants,” the ceo said.That results in excess inventory, which in turn gets “dumped in the marketplace, whether by authorized dealers or even the brands themselves,” Kamdar said. He said that for some brands, it could take as long as three years to close up the gray markets.The ceo said he’s helping to solve the disconnect by providing data to brands about what consumers are shopping for on his site. According to Kamdar, that possibly might help brands and factories with the other problem they have — the concern that cutting back for the sake of cutting back will lead to layoffs of skilled workers who might leave the industry and not be around for hire when demand in the high-end watch sector picks up again. [caption id="attachment_10964512" align="alignnone" width="371"] A Love Always bracelet from Phillips House.[/caption]
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia