What Goes Around Comes Around’s founders: Luxury brands 'holding things close to the chest' benefits resale
Mar 27, 2024
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Seth Weisser and Gerard Maione, co-founders of What Goes Around Comes Around, discuss the impact of luxury brands' exclusivity on their resale business. They share insights on successful partnerships, evolving from vintage to luxury resale, and strategies to stand out in a competitive market. The founders highlight their innovative approaches, including live selling and collaborations with platforms like TikTok and Amazon, to engage new luxury buyers and collectors.
Luxury brands' exclusivity drives demand for pre-owned items in the resale market.
What Goes Around Comes Around uses livestream shopping and unique offerings to stay competitive.
Deep dives
Evolution of Business and Response to Exclusivity
With brands increasing exclusivity and pricing, consumers seek choices, leading to a rise in the pre-owned and vintage market. Customers turn to the secondary market when faced with discontinued products or challenging brand practices.
Origins of Resale Business
Co-founders Seth and Gerard started their business after discovering a gap in the market for curated and unique pieces. The business stemmed from their personal experiences in the nightlife scene and observations while exploring vintage stores and flea markets, leading to the establishment of a storefront in New York.
Expansion and Partnerships
The company expanded into e-commerce and partnered with Amazon to provide luxury resale offerings. The strategic partnership aimed to offer authentic luxury products and cater to a wider audience through e-commerce platforms.
Challenges and Future Growth
Challenges include educating consumers about the quality and authenticity of pre-owned luxury items amidst increasing competition. The company plans to focus on enhancing technology, utilizing data for growth, and improving operational efficiency to support future expansion plans.
Seth Weisser and Gerard Maione co-founded the luxury resale company What Goes Around Comes Around 31 years ago, starting with a single storefront in NYC’s SoHo neighborhood. In the decades since, they’ve built up a strong B2B business, with distribution partners from Dillard’s to Disney. Plus, they’ve teamed up with Amazon on e-commerce and opened two more stores, including a Beverly Hills shop and a second NYC location.
In the last few years, resale has been on a hot streak, which some would consider a threat to the brands selling luxury goods on the primary market. Indeed, tensions are often high — What Goes Around Comes Around was caught up in a legal battle with Chanel just last month.
On this week’s Glossy Podcast, Weisser and Maione discuss how luxury brands’ extreme exclusivity is impacting their business. They also talk about the success they’ve seen with livestream shopping since opening a dedicated studio last year and the ways they’re ensuring WGACA stands out as new competitors flood the resale category.
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