Photo: Courtesy of Fashionphile
Watch the full conversation between Sarah Davis and Fashionista Staff Writer and Social Media Manager Brooke Frischer on The Fashionista Network.
While many know and shop Fashionphile, they may not realize that Founder Sarah Davis started the company 25 years ago as an eBay storefront. A lifelong lover of secondhand goods, Davis captured the luxury resale market in a way no one had previously conceived by sourcing reliable, authentic designer goods.
“I always just wanted nice things,” Davis shared with Fashionista’s Brooke Frischer on The Fashionista Network. (Watch it here!) “I would rather buy a used quality product than a new, less quality product. That was what got me started in those early days.”
In 1999, she realized the untapped potential of luxury resale. “I was like, ‘Why’s nobody doing this? […] Back in those days, you didn’t know if [resold] stuff was stolen or counterfeit — it was a mess. [The need for luxury retail] was pretty obvious, in my opinion, because it was such a gaping hole, so I took advantage of it.”
*Fashionphile is offering Fashionista Network members early access to its Very Merry sale — which includes an extra 10% off sale items — starting Dec. 6 at 9 p.m. PT (or Dec. 7 at 12 a.m. ET). New and current members can still gain early access: Sign up for The Fashionista Network now and watch the replay for the promo code.*
When she started, Davis produced a series of authentication guides on eBay (when the platform hosted blog-style review content), sharing the validity of her authentication process and products with her customers. She grew a following on the resale platform before social media even came to be. By 2010, Entrepreneur Magazine raved about Fashionphile’s innovative business model.
The company went its first 20 years without investors. It wasn’t until Neiman Marcus invested in the company in 2019 that it received any outside funding, Davis noted. Fashionphile opened storefronts in 10 department stores and focused on creating an upscale, convenient experience for both sellers and buyers.
Before the Neiman Marcus investment, Fashionphile didn’t have a marketing department. Instead, it found sellers in its buyers, relying on the quality of its services and word of mouth to grow the business. “If you’re buying a Chanel flap or a Louis Vuitton backpack from us, it’s likely not your only luxury item,” Davis explained during the interview. When customers receive a Fashionphile product, their invoices (now online) include an invite to resell their items and any other designer goods they may have on the platform.
Davis also discussed pricing rare pieces, navigating resale once a slew of competitors (with deeper pockets) infiltrated the market and more. Watch the full interview (and get an exclusive promo code offering early access to Fashionphile’s Very Merry Sale) on The Fashionista Network.
This conversation was hosted on The Fashionista Network powered by interactive media platform Fireside, where viewers get the chance to participate and speak directly with industry figures. Learn more about The Fashionista Network here.
Source: Fashionista.com
