The Luxury Closet For A Circular Economy

Business Case

Last updated: Sep 19, 2022

Summary

Founded in 2011 by Kunal Kapoor, The Luxury Closet is a leading online boutique for buying and selling new and vintage pre-owned luxury items.

With the aim of achieving a fully circular economy, they sell clothing, jewellery, watches, and bags.

Problem

The ability to keep up with changing trends by fashion brands and the overnight purchase & discard of clothes by consumers make the fashion industry one of the top environmental polluters.

Solution

To fight fashion waste and encourage consumers to move into a more sustainable shopping habit, The Luxury Closet is providing a resale marketplace online where consumers can sell their luxury items, giving a second life to the clothes they no longer wear but also reducing the problem of landfills and saving water. 

Buyers can access real luxury at The Luxury Closet as they guarantee 100% authenticity on the website by conducting a rigorous authentication process. Only items that have their confidence are accepted. They also provide products that have been previously unreachable to customers due to price or availability in the region.

The Luxury Closet has also implemented other sustainable practices - switching plastic bubble wrap for stuffing and cushioning products to recycled paper, moving to a paperless invoice system, and taking a sustainability pledge to resell, reuse and rejoice. 

Outcome

The Luxury Closet has witnessed remarkable growth in the past few years. It is slowly making a name for itself across the globe. The brand raises awareness of issues surrounding overconsumption while promoting the benefits of second-hand shopping.

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Contributor

Date added: Sep 11, 2022

Last updated: Sep 19, 2022

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