How e-commerce platform ShopWorn is solving luxury’s inventory problem: Covid-19 created a glut of unsold off-season product when physical stores closed – which Chinese consumers now snap up online
- ShopWorn has big plans for penetrating the Chinese market, from offering payment options like Alipay to promoting on WeChat and Douyin, says CEO Larry Birnbaum
- The company will also work with KOLs to appeal to millennials and Gen Z, while staying sustainable and calming authenticity fears by buying directly from brands
In the latest instalment in our series with luxury CEOs, we sat down with Larry Birnbaum, CEO of the e-commerce platform ShopWorn, to talk about how he tackles luxury’s inventory challenge, promotes sustainability and builds a strategy for connecting with Chinese millennials.
What drove you to start ShopWorn?
ShopWorn was born out of this proverbial “inventory problem”. What we do is take this inventory off the hands of brands or their authorised retailers and sell this past-season merchandise on our site at substantial savings.
How does your business model differ from those of other platforms?
ShopWorn items are never previously owned nor are they new from the current season. Our merchandise comes directly from brands or retailers sanctioned by the brands to sell their products. Our customers are the first true owners of any item they purchase from our site.
The direct relationship between ShopWorn, brands and authorised retailers alleviates questions of authenticity. We can guarantee all our items are 100 per cent authentic without having to employ “authenticators”. We also purchase all our inventory before it appears on our site, and items featured on the ShopWorn site are always in stock and ready to ship.
The direct relationship between ShopWorn, brands and authorised retailers alleviates questions of authenticity. We can guarantee all our items are 100 per cent authentic