- Bergdorf has launched a new initiative called the “Conscious Closet,” which allows customers to donate, repair or resell their pre-owned luxury items.
- Through its “Conscious Closet” initiative, Bergdorf Goodman now offers a selection of luxury vintage items.
- The Neiman Marcus Group has pledged to keep 1 million high-end items in circulation by 2025.
Bergdorf Goodman, a luxury retailer, has created a five-step program to maximise the use of pre-owned clothing and promote a circular economy in fashion.
The Neiman Marcus Group, parent company of Bergdorf, predicts that the Conscious Closet initiative will help extend the life of 1 million luxury items through circular services by 2025.
In 2019, the Neiman Marcus Group acquired a minority share in Fashionphile. Through their collaboration with Fashionphile, "Conscious Closet" provides an opportunity to modify, amend, resell and donate clothing.
Fashionphile drop-off locations have been established in several Neiman Marcus stores, allowing customers to sell their clothing and accessories. Bergdorf is collaborating with Fashionphile in Manhattan to authenticate the items they sell.
Customers can also receive home visits from a Bergdorf stylist to evaluate their current closet, as well as receive suggestions of what could be altered, repaired and resold.
If a repair is needed, Bergdorf’s Fifth Avenue flagship workshop can provide both simple and more intricate adjustments.
The company has also hired Santana Leather Care to clean and revitalise shoes and handbags. Bergdorf has partnered with Give Back Box to make donating "gently used" items to local charities more accessible to their customers.
Bergdorf personal stylists can now offer customers the option to receive BG gift cards in exchange for their items.
The price of the services will vary depending on an individual’s connection with the brand. According to Melissa Xides, Bergdorf's chief retail officer, some services may be free if customers have a long history with them.
For newer customers, the cost of alterations or modifications will be determined by the complexity of the task.
With many luxury brands designed and manufactured overseas, high-net-worth individuals (HNWIs) often utilise international payments services when purchasing expensive products.
In particular, those interested in buying or selling luxury goods through the Conscious Closet will need a secure and safe money transfer method to help reduce the potential for fraud and other financial risks.
As well as supporting ethical and eco-fashion, Bergdorf has also launched a Conscious Curation program for April 2022 which showcases ethical and sustainable products from top labels such as Studio 189 and Gabriela Hearst.
For HNWI individuals looking to donate or buy luxury items, use our online money transfer tool to find the best rates available.
