When Delhi girl Anvita Mehra was doing her undergrad in business from the University of Nottingham, she was introduced to the concept of pre-loved luxe. As a college student on a budget, she decided to sell some of her bags to fund a trip to Spain. It occurred to her that there was a place for this back home too, where anyone could encash value hiding in the luxury items they were not using. “It had to be more than an ebay. It had to be a curated marketplace that was hassle free,” says founder of Confidential Couture, started 11 years ago in Delhi.

According to Bain & Company, the Indian luxury market, valued at $17 billion in 2023, is projected to reach $90 billion by 2030, making it one of the fastest-growing globally.

Vestiaire Collective was founded by Fanny Moizant and Sophie Hersan 15 years ago, in France, sourcing from family and friends. Today it is the fastest growing resale site with B Corp Certification, spread over grown to over 70 countries.

Emily in Paris saw Mindy sell her jacket to Vestiaire to fund her music career; today the company is valued at over $1 billion. It has banned fast fashion brands such as Zara, H&M, and Shein from their platform. Their “Think First, Buy Second” campaign is a hit. With the Or Foundation, they give a platform to Ghanaian designers to create unique pieces from second-hand materials.

Mehra went back to London to get a master’s degree from Istituto Marangoni in Luxury Brand Management. “I would like to add, the practical experience of running a business is far greater than any text book I have ever read,” she laughs.

Mehra did not know Confidential Couture (CC) would survive, as one was aware of pre-loved luxury, a concept that had done well internationally! “The market was extremely resistant; many challenges were there, such as logistics and the stigma attached to pre-loved luxury. India was the only primary market of luxury,” she admits.

The world has changed, so have customers. Easier to catch eyes with logos and monograms which is very common in the market of Delhi. But if you move down south to Chennai and Bengaluru, even Mumbai, they also carry the same brands, but prefer to be discreet like the Europeans.

“I got a product from a second-hand luxury seller online; it turned out to be fake. I wanted a Celine Messenger bag, as the real one costs almost four lakhs. I can’t afford the one I really have been lusting after — the Celine Conti bag in calfskin and wicker for almost Rs.8 lakhs. I spent Rs. 60,000 coming home with a fake. The website is not answering my calls and messages, and refuses to entertain my requests,” says a luxe shopper on condition of anonymity.

Authentication is an issue, but Mehra explains they have a team in-house, experienced, supported by third party vendors in the US and London. There is a rigorous 4-5 steps process in authentication, leave alone the entire listing process, and a strict policy for counterfeits.

According to OECD (Organisation for Economic Co-operation and Development), “Global trade in fake goods reached USD 467 billion, posing risks to consumer safety and compromising intellectual property.”

Clothing, footwear, and leather goods remained among the most affected sectors, accounting jointly for 62% of seized counterfeit goods. While China remains the dominant source of counterfeit goods, accounting for 45% of all reported seizures in 2021, other countries from Asia, the Middle East and Latin America are also involved in counterfeit trade, it stated.

CC has sellers, (they started with 15-20) from Delhi; Mumbai, Chennai, first-time sellers from Indore, Pune, Ahmedabad, Bengaluru, are still a little hesitant. Usually, older handbag models fetch lower resale value as compared to the limited available stock/recent models. Hermes, Goyard (Saint Louis tote is for Rs 1,71,853.05) and Chanel (Maxi bag with flap calfskin gold-tone metal black Rs.738,500, prices can vary dramatically for all products) fetch higher reselling compared to brands like Gucci, Fendi, Dior. Models like the Hermes Birkin, Kelly in smaller sizes perform the best, along with LV Petite Malle, LouLou, Dior Saddle, Gucci Ophidia in leather, but the apparel category is still a little conservative. Hermes, Chanel, Saint Laurent, Gucci, Louis Vuitton move fast, CC also offers discounts of almost 40-45% off retail for some.

“The main issue is the unpredictability of the supply. Since it is based on an individual’s decision, we cannot forecast what is going to come in our inventory,” she says. “Our products are available to Tier 2, Tier 3 cities that we deliver too, where the primary market does not exist. Save the hassle of having to wait for another international trip or a good deal to come across,” she explains.

Consigning is the way they sell, maximum return on the investment they have made, they ask for details/ condition of the bag, invoices (not mandatory), detailed images, in case it passes, they onboard it. “Some products that do not meet the condition criteria are first sent to our sister company – The Leather Care & Co to take care of the products in order for us to be able to fetch some value for our seller on their products,” she says.

Mehra has plans to open stores in Mumbai and Bengaluru. “The idea of the store came about when we got an opportunity to do a pop-up, in 2021, Select Citywalk Mall. One year later, we opened our store in 2022 on MG Road. We made it into an experience centre for people to get accustomed to the idea of pre-owned luxury, a space where they themselves could check out the condition, and quality of the items we sell,” she adds.

“Spending while saving” is the motto of CC – you can own a branded bag, save a major cost attached to it, have the option of selling it again – the circularity of resale. CC sells handbags, footwear, accessories, fine jewellery to sunglasses, wallets, even watches like a Rolex or Audemars Piguet. It has a curation of limited availability stock even in the primary market, like Birkins and Kellys to start with, brands that are not available here, but are in demand. For example, Loro Piana (Vicuña is known as the diamond of the textile world they use; baby cashmere Rs.3 lakh for a scarf) or Amina Muaddi (Jordanian-Romanian brand shoes can cost, a lakh) Azzedine Alia are in stock for “like 5-7 minutes,” she admits.

“Women love the essence of the items they have collected over years, associate sentimental value with it. Purchases are made on special occasions, or celebratory moments, gifts that’s why it is so hard for them to part ways the first time whereas getting a new one is always on top of the list,” she laughs. Sometimes it is about liquidating your old bags to get a new practical one.

“There was a new product that we listed and just as soon as we released it, we had two people show up at our store at the same time to fight over a bag. It was quite funny to see two of our customers fighting with each other on who deserves to get the bag! It was indeed a great deal on a Hermes Kelly (which is originally Rs. 25 lakhs). Given the demand on some luxury items, we then decided to run auctions which were successful,” she concludes. Mehra’s favourite is Hermes, but she likes emerging brands – Polene and the Row, quiet luxury.

Another entrant is Niti Goenka of My Almari, who admits she has been buying-selling pre-loved luxury goods for years now, began with her studying in the US, exploring consignment stores and flea markets, especially during trips to New York, getting one-of-a-kind vintage pieces. “These weren’t just purchases; they felt like little treasures, each with a story; they added so much more value to my wardrobe,” says Goenka, who began two-and-a-half years ago.

There are two main types of sellers: one group is high-net-worth individuals, typically in their late 30s, 40s, and 50s, who have a substantial collection of luxury items. In terms of bestsellers, bags are by far the most popular category. They make up the bulk of My Almari’s sales – Louis Vuitton, Gucci, and Chanel, while Coach is great too. “There’s something incredibly exciting about finding a rare, discontinued piece or owning luxury at a more accessible price point, luxury items demand trust, and rightly so. India has a lingering taboo around the idea of ‘second hand’. Luxury is perceived as a symbol of success and status. Owning a high-end brand like Chanel, even at half the cost, provides a sense of accomplishment to an exclusive circle. In fact, we currently have multiple Birkins consigned with us,” she adds.

“Luxury, especially in India, has always been aspirational. Not everyone dreams of owning a Van Gogh painting, but I can assure you – every girl dreams of owning a Birkin. That desire for iconic, statement-making pieces is very real,” Goenka confesses.

After her BBA at Purdue University in the US, she used to bring these interesting finds back to India, wearing them proudly.

Even today, nearly 20 years later, those pieces remain her most treasured items. “I have not bought leather in over 10 years. I’m huge on animal welfare. While I can’t stop the world from buying leather, what I can do through my business is help reduce the demand for new leather goods,” she says.

One of the most interesting consignments we ever received was 75 vintage Hermès ties! “Naturally, we were so intrigued that we went to meet the family who owned this incredible treasure. It turned out these ties were part of a friendly competition between two tie-loving friends back in the 70s and 80s – how amazing is that? We feel so lucky to have these unique pieces with us, each carrying its own quirky story,” she says.

Her favourite label is Stella McCartney, due to being the best vegan luxury brand out there. “We help customers with additional details, pictures, a video call or a trial or in-person visit to our office if they are based in Mumbai. Luxury is a purchase that someone must think through, and we are here to support our customers every step of the way,” she adds.

My Almari does not have a store, they do have an office in Mumbai where clients are more than welcome to visit by prior appointment. “Indian luxury buyers are evolving, but at the heart of it – yes, there is a deep love for logos. Luxury is a status symbol here. People want to be seen with that LV monogram or that iconic GG canvas – it’s a way of saying ‘I’ve arrived’, a visible logo often carries emotional value,” she admits.

More seasoned luxury consumers appreciate craftsmanship, the understated elegance of “if you know, you know” brands. Silent luxury brands like Polene, The Row, Delvaux (started in 1829 in Belgium) too are emerging in India. My Almari offers handbags, shoes, clothing, accessories, and vintage jewellery to even Indian outfits. Pricing starts from as low as Rs.5,000 and can go up to Rs.20 lakhs. “Some sellers even send us entire collections – 100 bags at once are not unusual,” she says.

They don’t ship any product until the full payment has been received. For cash on delivery orders, they charge an additional fee of Rs.1,000, which the customer pays upfront when placing the order. As for sellers, we release payments within 14 days of the sale. This timeline accounts for the time it takes to deliver the product and standard 3-day return policy.

Radhika Mundra of The Luxury Quest, started in the middle of the pandemic in 2020, seeing disposable income growing. Sellers are usually men and women, age group of 25 to 48 years, stay at home moms, working women, men buy for wives. Bags sell best, more than shoes, weight and colour of bag matters, India likes to show the brand names, popular brands but has no obvious branding, hardware, then that buyer may not take interest. Radhika studied luxury brand management from Pearl Academy, Mumbai.

“Stigma around footwear and garments exists – people are not comfortable. Mostly luxe leather, vegan leather do well with increasing consciousness. If they have paid one lakh got a bag at Gucci they want a full price, on resale, even if it’s brand new, we can’t offer its retail price,” says Mundra.

Hermes puts you on a wait list, pre-loved you can get it super-fast. People are obsessed with bags, build a collection and pass it on to their daughters. Chanel raises bag prices every year, bag lovers go to a pre-loved website, get that classic flap for their trousseau,” says Mundra.

Gen Z wants to invest in handbags, watches not gold. Younger generation are planning purchases, if they start their career, ask parents for a gift in the form of a luxe handbag, or they save up. French and Italian brands do the best, “they won’t buy a brand because a celeb flaunts it, the brand should be identifiable,’ she asserts.

The new shopping destination for the rich now is La Roca village, near Barcelona, Spain, where you can get e Burberry to Prada, Jimmy Choo, Gucci, Max Mara coat or even Prada sneakers. It is quite like London’s Bicester Village or La Vallée Village in Paris. Mundra has many engaging stories to share, one where a client has come back to get the bags she sold — ready to give extra money.

“We have sold Hermes products at a good price, Hermes doesn’t go to outlet malls, we have had clients pushing us for the Hermes Evelyne (Rs 2,57,832.4 entry level bag), buyers ready to pay premium for it,” she confirms.

In the pre-loved market, both sellers and buyers do not want their identity to be revealed; they don’t give Luxury Quest feedback or reviews. “Stigma still exists among buyers and sellers – they do not want anyone to know they are buying second hand; this still exists in our society. I know some sellers sold products, to get money for medical expenditure, or sold a bag to pay for something else in urgent need,” she concludes. – Asmita is the Lifestyle Editor of NRI Focus. She is an award winning journalist who has been writing on fashion for the last 32 years