The Pre-Loved luxury goods has been on an uprising lately because of their durable and timeless nature that makes them a good fit for the resale market.
With the luxury brands increasing their prices by 25% every year, people are willing to buy pre-loved luxury rather than paying full price. According to the market research by IMARC Group, the pre-loved goods market is expected to reach US$ 51.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.1% during 2023-2028.
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One such brand that has tapped the preloved luxury market is Ziniosa, which offers leading luxury fashion resale service. Ziniosa allows its customers to buy and sell pre-loved items and has dominated the pre-loved market in India ever since they launched their services during the lockdown. Since then Ziniosa has grown rapidly and now has over 10 product categories from Handbags, Clothes, Belts, Sunglasses, Belts, Watches and many more for both Men and Women. Today, Ziniosa carries over 50+ brands including louis vuitton, gucci, dior, fendi, chanel, goyard, Burberry, Michael kors, coach, kate spade and many more international and domestic labels.
Today consumerism trends have made fashion the second-most polluting industry in the world. The founders Ashri Jaiswal and Varun Ramani thus felt that Ziniosa could be a solution that fulfills audience needs while helping build a circular economy. Resale value also offers brands an opportunity to flaunt their sustainability credentials; today the consumers believe in taking a conscious decision and are aware of the negative impacts fashion has on the environment. The pre-loved luxury market is an opportunity for luxury brands to support long term sustainable goals.Ziniosa’s wide customer base, repeat usage, and high social media engagement are tributes to its impeccable reputation and brand goodwill as a trustworthy and sustainable online re-selling platform.
Lately, a lot of influencers have also been spotted carrying pre-loved luxury from Ziniosa that can be seen on their instagram.
According to Ashri Jaiswal, Co-founder, Ziniosa,“Affordability is the first barrier keeping a major chunk of shoppers away from enjoying luxury brands as these brands raise their prices by 25 percent every year.The future of fashion is pre-loved and this market is set to increase in the next decade. Ziniosa takes away all the pain and complexities from reselling. We list the Product for the sellers and also negotiate with the buyers in order to make sure the product is sold immediately. I can firmly say that Ziniosa has the fastest sell through rate,”
Speaking on the quality-check Ashri explains,“Ziniosa has a very thorough authentication check.Each item is authenticated twice, once by our in house team and then by a team of experts in the US,”
While most of the pre-loved luxury brands sell offline, Ziniosa has created an online one-stop-shop for second-hand luxury items for the ease of their customers. In the last two years, Ziniosa has successfully served over 10,000+ customers. With a 4X increase in revenue 4X in FY 22-23, Ziniosa is set to dominate the pre-loved market in India. Ziniosa’s growth is also because of the increase in awareness about sustainable and circular fashion. Customers are now willing to try second-hand since it’s better for the planet and they end up saving almost 50% on these pieces.
Ziniosa is now expanding their services and they’ve also started expanding their physical presence by conducting pop-ups in cities like Mumbai, Delhi and Bangalore.
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