KREAM's Used Luxury Sales Soar 588%, Service Renamed 'Vintage'

Cream's pre-owned luxury goods trading service 'Boutique' was fully reorganized into 'Vintage', recording remarkable growth. According to the announcement of its operational performance over the past year, transaction volume in early August 2024 surged by 588% compared to the same period last year, and the number of new product (SKU) registrations for high-end brands is doubling every month. The main customer base saw those in their 20s and 30s account for 71% of all users, with transaction proportions particularly high among men in their 30s (49%), women in their 30s (39%), and women in their 20s (20%), in that order. By brand, Chanel recorded the highest transaction volume, followed by Hermès, Louis Vuitton, Dior, and Gucci. This growth is attributed to the excellent price competitiveness of high-end brands, a highly rare vintage product lineup, and the thorough inspection system of its subsidiary PAP. A Chanel Coco Handle Flap Bag can be purchased approximately 43% cheaper than a new one, and items like Prada Saffiano and Hermès Herbag are so popular they sell out within a day of being listed. Rare items such as Richard Mille watches put up for auction, Chanel limited edition mini bag collections, and accessories exclusive to Japanese vintage stores are also actively traded. All registered products are verified for authenticity and condition by luxury appraisal experts with over 10 years of experience belonging to Cream's subsidiary PAP, and high-value items are safely transported through a free on-site pick-up service. With this reorganization, Cream redesigned its user interface (UI) and logo, and added a new 'Pre-owned' tab to enhance accessibility. Beyond existing high-end brands, it expanded its range of choices by adding brands favored by those in their 20s and 30s like Celine, Prada, and Balenciaga, as well as premium watch lineups such as Rolex. In the future, Cream plans to expand into a peer-to-peer (P2P) service that allows one-click buying and selling of pre-owned luxury goods, establishing a virtuous cycle where products purchased on Cream can be easily resold. Furthermore, in the second half of this year, it plans to open an offline store where consumers can inspect products firsthand. A Cream official stated, "Based on our diverse product lineup and unique inspection system, the pre-owned luxury goods market continues to grow," adding, "Through this service reorganization, we aim to firmly establish ourselves as a leading platform in the market."