The pandemic didn’t stop one South African from spending R220,000 on a second-hand bag
- Secondhand luxury goods retailer Luxity says it grew sales by 63% despite the pandemic.
- One of the most expensive items it sold is a Hermès Birkin bag that retailed for R220,000.
- Its shopper's firm favourite brand is Louis Vuitton, and clients are now showing significant demand for Hermès and Chanel, which don’t have stores in South Africa.
- Watches are also gaining popularity, and Rolex is the most popular. One recently sold one for R210,000.
- For more stories, go to www.BusinessInsider.co.za.
As many retailers suffered during the Covid-19 pandemic, Luxity, a reseller of secondhand luxury goods in South Africa, was booming.
In its financial year ended February 2021, the retailer sold a sought-after Hermès Birkin bag for R220,000, just two minutes after it listed it on its website.
Sales for the company, which has stores in Nelson Mandela Square and Pretoria's Menlyn Main, surged 63%, it said.
Here are the five most expensive items Luxity sold during the period.
Hermès Togo Birkin 35 Black - R220,000
Rolex Oyster Perpetual Datejust- R210,000
Rolex GMT-Master II- R150,000
Christian Dior Diamond Christal Watch- R100,000
Michael Zahariev, the cofounder of Luxity, said sales were driven by a combination of factors, including heightened demand from high-net-worth people who diverted their usual holiday spending towards luxury purchases due to international travel restrictions brought on by the pandemic.
"We've had a lot of high-net-worth clients saying to us they've never had more available cash than they do now," Zahariev said.
Spending on luxury brands that would have happened on their travels abroad also landed up at Luxity.
"You've seen it across the luxury sector in general; If you look at Louis Vuitton and Gucci, in general, in South Africa are performing really, really well."
"Many people who would shop internationally are now coming to us because, for example, there's no Hermès in South Africa, there's no Chanel in South Africa," said Zahariev.
Customers also bought strange luxury items, including these.
Gucci mouse pad for R2,000.
Hermès post-it holder for R3,000.
Hermès hoof pick for R4,500.
Chanel snow globe for R5,000.
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