What a difference a month makes.
Last month, in the middle of the holiday season, the world’s biggest retailer, Walmart rolled out two online collections, the KAMUGO & the Aidrani, which were leather handbags that look quite similar to one of the most famous, if not the most famous, bags in the world: the Hermès Birkin.
The Hermès Birkin is a “globally recognized emblem of status and wealth,” with price points between $10,000 and $400,000. These bags have become so expensive—not to mention hard to acquire—that their value has grown faster than both the S&P 500 and the price of gold, with a return on investment of 500% over 35 years.
The versions on Walmart.com were introduced with a price tag between $78 and $102, and come in different styles and color options, including green, orange, blue and iron gray. The handbags are gaining attention on social media for their striking resemblance to the coveted Hermès Birkin bags.
The story gained international attention.
New Partnership with Rebag
In response, Walmart is now adding to their Walmart.com marketplace tens of thousands of pre-owned (or pre-loved as they are often referred to) luxury handbag collections, fine jewelry and designer watches through a new partnership with Rebag, a resale platform that got its start in 2014, which allows users to buy, sell and trade luxury items.
The best part, the partnerships is already live.
Launched in 2009, Walmart’s online marketplace, according to CEO Doug McMillan who has spoken extensively about about its importance, is now approaching 700 million items vs the 120,000 SKUs that are traditionally carried within the walls of a typical Walmart super center store.
Rebag’s full catalog, which now sits at over 25,000 items, contains both one of a kind items and mainstream collections from Maisons such as Louis Vuitton, Chanel, Gucci, Christian Dior – and of course Hermès. The partnership will greatly increase luxury items available through third-party sellers. The partnership will also offer an exclusive collection of items specifically for the Walmart clientele.
While one might argue that most people who can afford a Birkin don’t shop at Walmart, and those who shop at Walmart typically can’t afford a Birkin – you would be incorrect. Based on their latest earnings, Walmart is winning with higher income shoppers.
Last year Rebag, also announced a strategic partnership with department store Bloomingdale’s.
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