Often thought of as a place where those desperate for cash can receive low payouts and high interest rates, pawn shops haven’t always had the best reputation. But following the 2008 economic crash and credit crunch, the industry has begun to attract a new, higher-end clientele. And many of them are moving online, using their luxury handbags and designer watches as collateral.
That’s because “even the wealthy can run into situations where liquidity is an issue,” said Dewey Burke, the president and chief executive officer of Luxury Asset Capital, which runs the site Lux Exchange. He left the world of brick-and-mortar pawning after “seeing the need for easy access to capital…on a different scale for a different kind of client.”
Super-influencer @chiaraferragni doesn't miss a beat— or a party. Last night, she inaugurated Pomellato's newest boutique on Rodeo Drive, decked out in bling from the jewelry brand. At the event, Ferragni took some time to sit down with us to discuss motherhood, being a newlywed, and the hotly-anticipated documentary she is currently filming.
Photographed by @chelsealaurenla
As the conversation around sustainability only grows stronger in fashion circles, Everlane has made a new declaration: it’s saying goodbye to virgin plastic. The company, whose ethos is all about “radical transparency,” in terms of pricing and ethical factories, plans to be completely free of virgin plastics by 2021. “We’re producing millions of units and every unit that goes out is wrapped in plastic,” said founder and CEO, Michael Preysman. “At the beginning, it was like, ‘Hey, let’s just take off all these plastic bags.’ There are a lot of complications to that. Everything you buy in the world comes wrapped in plastic when it comes out of the factory.”
Meet Flamingo. The direct-to-consumer brand is Harry’s first foray into products designed specifically for women. The line goes beyond shaving, venturing into a space that is typically relegated to darker corners of the drugstore — at-home waxing. #wwdbeauty