Rebag opens up pricing with image recognition
A digitally-native handbag reseller is adding machine learning (ML) capability to its pricing tool.
Rebag is launching Clair AI, an image recognition solution that can identify and price luxury handbags within seconds. An extension of Clair, the company’s pricing tool that launched in October 2019, Clair AI recognizes and instantly delivers the resale value of handbags across more than 50 brands. The ML-based software is backed by six years of data and millions of image references collected by Rebag.
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. Users can download the Rebag app on their iOS or Android device for an optimal experience, or visit the Rebag.com e-commerce site.
After scanning a handbag on a neutral background via a phone camera, Clair AI will instantly identify the bag’s brand, model and style, and generate the price Rebag is willing to pay for that item that day.
In addition to allowing users to scan bags that are available in person, Clair AI software can also recognize virtual representations of a handbag, in particular any screen that features the items. For instance, users can scan another device that is browsing a luxury shopping or resale destination, a social media account that features handbags, a television screen, or a page or advertisement of a printed magazine. Receiving an appraisal from Clair AI is free and does not lock consumers in to buy or sell through Rebag.
After receiving their price quote, consumers have the option to accept Rebag’s offer, generate a free shipping label, and send their item out in the mail. As per the Rebag process, sellers will be paid within two to three business days upon receipt of the items. There is also the option to receive instant payment in-person by dropping off the products at any of Rebag’s seven store locations across New York City, Miami, and Los Angeles .
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. For professional resellers and platforms, Clair AI is also available on-demand for third-party applications and can integrate with external systems at scale.
“Clair AI will transform the luxury resale industry forever,” says Charles Gorra, founder and CEO of Rebag. “From now on, anyone can scan and access the resale value of a handbag instantly, without any prior industry knowledge. With Clair AI, we are building on our promise of always providing total transparency and simplicity for resellers. Ultimately, we believe that accessible resale data points will redefine behaviors and move the luxury industry from a consumption mindset towards an investment one.”