Nordstrom is the latest retailer to bet on the resale market.
After tapping into rental services through its Rent the Runway partnership, the department store chain is launching a shop-in-shop of secondhand merchandise housed both online and at its New York flagship. Dubbed See You Tomorrow, the store, which opens on Friday, will showcase pieces from its roster of big-name brands, such as Adidas as well as luxury labels like Burberry and Off-White.
The selection of previously owned items includes clothing, shoes and accessories that hail from Nordstrom’s inventory of returned and damaged pieces. The Seattle-based retailer will also welcome pre-owned goods from customers to sell in exchange for gift cards redeemable online and in stores at Nordstrom as well as Nordstrom Rack and HauteLook.
Just last week, Nordstrom’s off-price arm ramped up its collaboration with Rent the Runway, piloting a new program called Rent the Runway Revive. The service brings some of the subscription rental platform’s gently worn, ready-to-wear products to 24 Nordstrom Rack locations for a limited time.
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Rent the Runway already has drop-off locations at Nordstrom and Nordstrom local locations, where customers can quickly return rented items. The companies first joined forces over the summer, testing the service in Los Angeles and expanding it in mid-November to nearly 30 of the retailer’s stores. Ahead of the holiday season, Rent the Runway and Nordstrom also announced that their partnership could potentially involve developing exclusive products that could either be purchased or rented.
As more customers make the case for high-end goods at more wallet-friendly prices, a number of storied fashion retailers have seen opportunities in the secondhand market, whether through resale or rental services.
In April, Neiman Marcus took a minority stake in online consignment market Fashionphile, becoming what is widely reported as the first major luxury player to directly invest in resale. In mid-August, Macy’s and JCPenney forged partnerships with ThredUp to host the reseller’s products at its stores. And in November, fashion rental startup Le Tote closed its acquisition of storied retailer Lord & Taylor.
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