Rebag is touting its real-time price transparency tool Clair as a “game changer” to the “opaque” luxury resale industry. An acronym for Comprehensive Luxury Appraisal Index for Resale, Clair aims to create access, giving “expert data to non-experts” within the handbag vertical.
“We moved a process that took weeks or months to a few days, then one hour in our stores — then minutes with Clair,” said Charles Gorra, founder and chief executive officer of Rebag. Removing the friction between resellers and consumers is necessary for the luxury resale industry, and with greater price transparency consumers can take on a more active and informed role in regards to their handbag investments.
As a proprietary software tool that was five years in the making, Clair has data and insight on more than 50 brands and 10,000 handbags. With universal codes, a detailed condition grade rubric built into the software as well as accessibility via Rebag’s web site or its mobile app, Clair is positioned to be a benefit to “anyone who is involved in this space,” according to Gorra.
While peer-to-peer marketplace StockX reveals an item’s true market price (including streetwear, handbags, footwear and collectibles), Rebag, as with other managed marketplaces such as consignment models The RealReal or Fashionphile (which announced a free authentication app earlier this year), operates a managed marketplace. Clair Codes can be tapped by any reseller worldwide.
Just this October, Rebag opened its ninth store in San Francisco and is set to continue on its quest for 30 stores within the next few years, growing its footprint by 100-percent year-over. The 10th store is expected this year.
As for how Rebag’s in-store experiences will change, Gorra said, “We are going through that training as we speak. It’s really everyone that works at Rebag, including customer service, business development and sales consultants. Everyone is trained to be a super-user of Clair.”
Gorra stressed that the concept is not new, and Rebag is simply “transposing this method for the resale industry,” referencing examples in the auto and electronics industries. “Eventually, it’s meant to live in other systems,” said Gorra at a press dinner announcing the tool.
As for his opinion on department stores partnering with resale players, Gorra said “They’re cautious — hence partnering with the existing players.” Gorra believes department stores will generate the most synergy in leveraging Clair as a selling tool as a “shopping companion.”
Applicable to many of the current challenges faced by the apparel and footwear industry, “Scalability comes through standardization,” reiterated Gorra and he believes technology (including tools such as Clair) is the key.