That’s the gap he’s trying to fill in The Restory, and the company’s growth suggests there is demand. The company has doubled every year since its launch in 2017, this year adding Manolo Blahnik, Nicholas Kirkwood and retailers Brown Thomas and Arnotts to its list of existing partners such as Farfetch, Harrods and Selfridges.
Improvements are also growing internally at luxury companies, from Burberry to LVMH, as a component of their long-term sustainability strategy. LVMH says it will announce new services in 2023 “to enhance or develop the reparability” of products, with efforts underway at Louis Vuitton to develop and implement durable designs, the company’s strategy at Berluti to produce shoes that can be “fully refurbished, regardless of age. them”, and Fendi invites clients to bring back fur in any condition for refurbishment or recycling into new products.
Dry is committed to expanding and enabling easier access to repair services as part of its circularity strategy released in May 2021. Demand at its specialist repair center Shanghai is growing — it repairs 20,000 items in 2020 and the number continues to grow — and the company is in discussions with universities to create apprentices that can help train craftsmen with appropriate skills.
The list of other brands offering repairs grew rapidly, from Barbour and Dr Martens to Christian Louboutin and Churches. Hugo Boss also plans to launch a repair service later this year, following a resale program launched last month.
Brands are starting to see improvement as a way to increase customer loyalty and engagement. There may be a greater force at work as well: an emerging understanding that instead of eating into their own sales, brands can use improvements to keep customers in the brand ecosystem for longer — just as they are starting to realize reselling is an opportunity to do so too.
Providing better after-sales service to customers, according to Rea, is less likely to de-sell new products — a frequent concern for companies that need to record sustainable growth — but instead has the potential to convert new customers who may be willing to spend more on their products if they do. feel more confident about a worthwhile purchase. “If you have access to trusted aftercare, it starts to slowly change that mindset: instead of buying something tossed about, invest in something more long-term. If you choose not to keep it, if you have the desired brand in good condition that has good aftercare, you can resell it, you can rent it,” he said.