"Feel good luxury"

A new e-commerce platform dedicated to pre-owned luxury goods makes fashion sustainable and accessible. It is also a place to find rare treasures. By MEGHA MERANI

ChadiLuxury.com – a global e-commerce platform dedicated to pre-owned luxury goods, vintage goods or rare goods. “The luxury market as a whole is slowly evolving towards being more so- cially responsible due to global trends turn- ing more and more towards sustainability,” Nouri tells CitizenK. “My career spent in the luxury industry has sharpened my passion for beautiful craftsmanship, luxury brands, high-end watches and jewellery. At the same time, I strongly believe that balancing sustain- ability and newness are key in today’s world.” Nouri says her designer resale ecosystem, launched in June this year, focuses on what she calls “feel good luxury”: waste-reducing as clients buy or sell goods that are meant to last in time and style, a personalized, luxury client experience where second-hand clients are treated and pampered like first-hand clients, and a low commission structure for consignees.

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At ChadiLuxury.com, Chadi Nouri caters to seekers and sellers of rare, vintage, and hard-to-find designer pieces.

In a bijou space set high in a modernist office complex overlooking Wong Chuk Hang, an up-and-coming recently-post-industrial cityscape on the south side of Hong Kong Island, Chadi Nouri, a former product director at Swiss luxury watch manufacturer Audemars Piguet, has set up virtual shop. Nouri's consignment resale business, ChadiLuxury.com, soft-launched earlier this month and features a broad range of covetable, pre-owned apparel, shoes, bags, and accessories—think: rare Rolexes, Birkins in near-pristine condition, and more Louboutins than you can count—all Swiss-authenticated and competitively priced.

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Welcome to Chadi Luxury

After working for Audemars Piguet and Cartier, Chadi Nouri has now set up an e-commerce site for certified second-hand luxury items.

Chadi Nouri is well-known in the watch and jewellery industry, having worked in the milieu for nearly ten years, including eight as product director for Cartier and Audemars Piguet. She has now embraced her entrepreneurial side, by setting up her own company, ChadiLuxury. This Hong Kong-based e-commerce platform specialises in certified second-hand luxury items, including vintage watches, bags and other luxury accessories and rare finds, for men and women. Chadi Nouri’s experience in the luxury industry helps her both in verifying the workmanship of the items on offer, as well as identifying consumer trends. All the items sold are authenticated by a team led by Swiss experts, who grade their condition as good, very good, excellent or perfect. The items are then priced at a level in line with the market. According to the philosophy of ChadiLuxury, design, craftsmanship and materials matter as much as the emotion the piece evokes, and the desirability of the brand.

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New research shows that global sales in the second-hand luxury market are expected to grow at an average rate of 12 per cent year-on-year, compared to a 3 per cent average for the core luxury market.

The figures were released in a Boston Consulting Group (BCG) and Vestiaire Collective survey, entitled “Why Luxury Brands Should Celebrate the Pre-Owned Boom”, revealing three key drivers behind the rapid growth and detailing how luxury brands can benefit from the explosion of the resale market.

According to the survey, the resale industry is forecast to increase turnover from US$25 billion in 2018 to $36 billion in 2021, representing around 9 per cent of the luxury market.

Millenials and Gen Z are disrupting the market and placing greater importance on the social and environmental impact of their purchases than previous generations.

The BCG-Altagamma study revealed that the purchasing behaviour of 59 per cent of luxury customers in both the primary and secondary markets is influenced by sustainability, while 17 per cent of customers in the second-hand market purchase pre-owned because they consider it “truly sustainable behaviour.” The survey of Vestiaire Collective customers reveals similar data, with more than 70 per cent trying to shop ethically and 13 per cent saying that sustainability is extremely important to them. Of those that shop ethically, 57 per cent say that environmental impact is their primary concern.

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