One fashion follower’s trash was another’s treasure Wednesday night, as an ultratrendy crowd gathered at a cavernous building in London’s Covent Garden neighborhood to celebrate the launch of the Visa Swap Shop. The temporary shop has been set up so shoppers can drop off their unwanted clothes in exchange for points on a special Visa card. During Saturday and Sunday, they then can exchange the points on their card for others’ castoffs.

Model Morwenna Lytton Cobbold, Margo Stilley and Chloe Delevingne all turned up at the launch to check out a runway show previewing the garments on offer. As models paraded past in vintage dresses, guests sipped rose chai tea martinis from chintzy floral teacups. “I’m really impressed with the vintage selection,” said Erin O’Connor. “But it’s so hard to find pieces to fit my very modern body,” she added ruefully, gesturing to her skinny frame. “I have to stick to jackets.”

This story first appeared in the July 18, 2008 issue of WWD. Subscribe Today.

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