Tiffany, Neiman Marcus and Saks face online competitor

Luxury goods retailers face a new competitive challenge from a consignment Web site called Couture Within Reach that has the potential to siphon off traffic and sales.

The New York-based company promises to connect online luxury goods buyers with authentic previously owned goods such as handbags, accessories, jewelry and shows. The online clothing and accessory site believes it has found a special niche and where people can go to find some of the best and most unique high-end fashion items. Selling only authentic luxury brands such as Chanel, Hermes, Balenciaga, Celine, Louis Vuitton and Gucci that are on consignment, CoutureWithinReach.com sources its pre-owned luxury items from well-heeled Wall Street types, socialites and celebrities.

"Our consignors always surprise us with their unique items,” said Couture Within Reach CEO and founder Maiyang Kim. “However, what you see now could be gone in a second. And once we began shipping our merchandise to customers on a global basis, we've been finding that people all over the world are simply amazed with our luxurious and unique findings." The Web site offers customers the ability to layaway one item at a time and also features a personal shoppers program.