A leading online marketplace, the Carousell Group is expanding into physical retail with the launch of its first branded brick-and-mortar store, Carousell Luxury. Located on Singapore's renowned Orchard Road at The Centrepoint, the 1,400-sq-ft store is set to officially open on September 23. It offers second-hand luxury handbags and accessories from top brands like Louis Vuitton, Chanel, and Yves Saint Laurent.
According to Tresor Anne Tan, Director - Client Relations, Carousell Group, the new store addresses a growing trend among luxury consumers who are more conscious of a product's economic value and sustainability. Buyers can purchase high-end items at a fraction of their original cost, often in excellent condition, she notes. A physical presence also offers a key advantage over online sales: it allows buyers to inspect products in person and rely on the store's in-house authentication team. A team of five appraisers meticulously checks each item's materials, stitching, and embossing to ensure authenticity.
For sellers, the store offers a ‘net-earnings model,’ where they agree on a specific payout amount upfront. Carousell takes a 25 to 30 per cent cut of the consignment price, which covers services like digital marketing and photography. This model ensures sellers are not affected by any sales or promotions the store might run, Tan explains. The store also provides a direct buy-out option, allowing sellers to get paid upfront at a slightly lower rate, as Carousell assumes the risk if the item doesn't sell, she adds.
Since its soft launch, Louis Vuitton has been the top-selling brand, accounting for one in four bags sold, followed by Chanel and Gucci. The store's clientele consists mainly of professionals, managers, executives, and technicians aged from their mid-20s to late 50s. While most sellers are local, the store has also drawn overseas buyers from countries like South Korea and China.
