The End of Property
As you read this article, $2.1 trillion in fashion sits unused in wardrobes around the world. At the same time, consumers shopped 70% more in 2020 than they did in 2014, while keeping items for half as long. How does this contradiction make you understand?
Generation Z, born between 1997 and 2012, is a contradictory age group that simultaneously demands “sustainability” and fuels the throwaway culture. Their consumption of fast fashion has been fueled by a seemingly insatiable appetite for novelty, as they feel the social pressure to document their lives on social media, which ‘needs’ them to be seen in ever-changing clothes.
However, a rapid change is currently taking place here. Gen Z and Millennial consumers are losing their love for fast fashion and are drawn to resale and rental platforms where shopping takes a new, flexible form.
The traditional ownership model has shattered, being supplanted by a circular re-commerce economy where buyers buy with resale value in mind. However, with so much unused clothing, there is still a gap in the market for resale platforms that manage to better serve the needs of young buyers and sellers. These begin to merge into one brand and become “brands” themselves.
In the twilight of these shifting paradigms around ownership, the Resale as a Service platform launches Parker Lane Group a circular luxury marketplace: RLVD.com. It begins with the offer of new and used items, before moving on to a rental and subscription model and a nationwide delivery service.
RLVD.com will function as an extension of Parker Lane Group’s end-to-end re-commerce solution. If the inventory is not sold directly to consumers through the Reloved marketplace, it will be resold on secondary markets through the company’s B2B solution. The remainder is then shipped to Parker Lane’s in-house recycling facility. Overall, only 1% of stock is recycled – mostly due to legal issues or irreparable damage.
“We want to promote the paradigm shift in ownership and believe that the real power for change lies with the consumer, not the brands,” commented Raffy Kassardjian, Founder and CEO of Parker Lane Group of RLVD.com. “’RLVD aims to become synonymous with seamlessly buying, selling and participating in property without the constraints of the traditional ownership paradigm. This is in itself more circular, equitable and in line with the shopping habits of future generations.”
“Consumers see the items they no longer want as not a waste but as an opportunity to add value – it’s time for brands and retailers to embrace this shift from traditional ownership as shoppers discover new ways to access products” , added Lisa Panvino, Head of Strategy at RLVD.com. “By not producing and changing the way people consume, we want to be part of the solution and not part of the fashion problem.”
community shopping
RLVD.com will be a carefully curated platform embracing the new era of seasonal fashion. People can circulate their clothing through the RLVD community as a means of stylized self-expression.
In addition to offering more affordable prices on quality clothing, RLVD.com aims to democratize luxury fashion in a more sustainable and ethical way through its shipping community. Both buyers and sellers get a return on their investment because they can choose to resell the clothes they buy – effectively participating in a longer-term form of renting. After the start of the rental and subscription model, circularity will be embedded even more strongly in the platform service.
RLVD.com is building a global community that seeks to challenge the status quo in a way that resonates with the new generation by giving clothes new homes and giving them as many lives as possible.
“RLVD.com is not just a marketplace, it’s a community-driven platform to connect and share fashion, design and culture among creatives and like-minded people,” said Maya Kokerov, RLVD.com Marketing and Communications Manager. “We want to work with young, talented artists and designers who bring a fresh perspective to sustainable fashion.”
RLVD.com is hiring
RLVD.com offers paid internships aimed at recent graduates to help those who face barriers to entry into the fashion industry, including women, people of color and other marginalized people from low-income communities, thereby gaining the opportunity to pursue sustainable careers build in the fashion industry.
The London HQ is based in White City, where the offices are growing rapidly, fostering a fun, energetic and fast-paced environment while the team is growing exponentially.
While launching in the UK this year, the company has plans to expand into Europe and the United States.
About RLVD.com
RLVD.com is a London-based luxury marketplace opening in Summer 2022. This marketplace is an exclusive destination for circular fashion. RLVD’s mission is to redefine views on novelty, overstock and consumption while addressing today’s generation’s need for change.
With the rise of the conscious luxury consumer, RLVD.com embraces the changing landscapes of ownership and abundance to help bring a new life to high-quality items.