Rebag opens new store in Beverly Hills
Rebag’s newest brick-and-mortar location is designed to offer all the elements of its typical store in a more compact format.
The 800-sq.-ft. store, located steps away from Rodeo Drive in Beverly Hills, Calif., displays all of the high-end resell retailer's product categories, including designer bags, watches, fine jewelry and accessories. Additionally, Rebag’s 25,000-item inventory will be available for digital purchase at in-store The Rebag Bar.
The new Rebag offers a tailored clienteling approach to assist customers, who will be able to sell a used item within 60 minutes by using Rebag’s upfront payment offering. Customers will also be able to buy and sell an item in a single, combined transaction via Rebag’s recently launched Clair Trade service.
At the store’s “Clair Corner,” consumers can use a self-service kiosk to receive an instant price quote on the item they are selling via the Clair by Rebag software suite. Launched in 2019, Clair by Rebag is a proprietary software tool that leverages seven years of data and millions of image references to instantly determines the resale value of more than 15,000 product styles.
Clair, a proprietary software, is short for Comprehensive Luxury Appraisal Index for Resale and is equipped with a universal taxonomy and condition grades that act as a standard pricing reference for resellers worldwide. Rebag expanded the tool earlier this year, adding machine learning capabilities.
After scanning a handbag on a neutral background via a phone camera, the expanded Clair AI solution will instantly identify the bag’s brand, model and style, and generate the price Rebag is willing to pay for that item that day. According to Rebag, the tool can recognize over 15,000 existing references and identify these with 91% accuracy. Clair AI makes up to five predictions for the handbag ranked by highest likelihood, and the user can then select the one that matches their bag.
Receiving an appraisal from Clair doesn’t lock consumers in to buy or sell through Rebag. Once customers have seen the value, they can decide to hold onto the investment, consign it, sell/trade it in through Rebag, or buy more of them elsewhere.
[Read more: Rebag creates resale price transparency]
“At Rebag, we aim to provide a unique and personalized shopping experience for consumers,” says Charles Gorra, Found & CEO of Rebag. “With the opening of our Beverly Hills store, we're excited to continue to modify the traditional retail model, integrating high-tech touchpoints throughout the in-store experience in order to meet the needs and wants of today’s shoppers.”
Founded online in 2014, Rebag currently has eight physical stores besides the new Beverly Hills location, including four stores in New York City; two in Miami; one in Arcadia, California; and one in Connecticut.
For shoppers not located in New York, Florida, California or Connecticut, buying, selling and trading at Rebag is accessible through its mobile app and rebag.com. Rebag offers a process that provides payment for eligible luxury goods accepted within one to two business days for online transactions, and less than 60 minutes in stores.