Open for Vintage
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| Type of business | Limited |
|---|---|
| Available in | English |
| Founded | May 2015 |
| Headquarters | London, England |
| Key people | Colin Saunders, co-founder and CEO, and James Loftus, co-founder and COO |
| Industry | E-commerce |
| Products | Vintage designer bags, jewellery, accessories, clothing. |
| Employees | 5 |
| Website | openforvintage |
About
Open for Vintage is a luxury online marketplace that sells designer products from over 70 independent vintage boutiques located around the world.[1] The company was founded in 2015 by Irish entrepreneurs Colin Saunders and James Loftus and has headquarters in London and operations in Ireland.
Supporting the economy
Open for Vintage connects customers with the finest designer vintage goods, whilst simultaneously supporting the circular fashion economy by extending the lifetime of products that already exist. Open for Vintage sells pre-owned designer clothing, bags, jewellery, accessories and watches for women, and ships worldwide. [2].
Investing in vintage
The business aims to increase awareness around the environmental and economic benefits of shopping vintage instead of buying new, and regularly produces articles on their journal to inform and educate their customer community on the topics of sustainability and vintage fashion. From vintage investment guides, vintage product care guides, and interviews with thought leaders, Open for Vintage demonstrates a clear passion to grow the conversation around investing in vintage and adopting sustainable shopping habits. [3].
The designer vintage market growth
The designer vintage market has grown exponentially over recent years, and Open for Vintage continues to gain market share in the UK. The business guarantees product authenticity by working directly with independent vintage boutiques, Colin Saunders explains, "Authenticity is the most important element for a successful vintage offer". [4].
Vintage Brands
Open for Vintage makes the majority of its sales from luxury brands such as Chanel, Louis Vuitton, Gucci, Givenchy, Bottega Veneta, Prada, Christian Dior, Hermes, Burberry and Cartier. Stocking authenticated vintage items from independent boutiques around the world, Open for Vintage stocks iconic, well-known designs from luxury fashion houses including the Chanel Classic Flap bag, The Dior Saddle bag, and the Hermes Birkin bag, to name but a few. The business also stocks hard to find, rare vintage designs across handbags, jewellery, accessories and watches. Open for Vintage connects highly coveted vintage goods to customers located all over the world, in one convenient marketplace that supports the trade of independent boutiques. [5].
Sustainability
Open for Vintage are advocates for sustainability within the fashion industry, encouraging customers to choose vintage instead of buying new. Stocking well-crafted pieces made from premium materials, the business ensures that the lifetime of high quality goods is extended through the marketplace. Open for Vintage customers support the circular fashion economy and are passionate about consuming more consciously. [6].
Awards
Open for Vintage were awarded 88th place in the Startups 2017 100 fastest growing start-ups. This annual index of the UK’s most exciting new businesses acknowledged Open for Vintage for addressing the world's need to accommodate the circular fashion industry, whilst giving shoppers an alternative to designer luxury whilst remaining sustainable. The most important element of the business model that was highlighted was bringing a global audience to independent vintage boutiques. [7].
Financials
Previously Open for Vintage raised £148,010 through the popular crowdfunding site Crowdcube, generated by 148 investors at 3.45% equity. [8].
References
- ↑ "The influencer approved online vintage store where you can find (and shop) rare designer buys". Retrieved 10 March 2020.
- ↑ "Cash in on the vogue for vintage". Drapers. Retrieved 21 June 2019.
- ↑ "Cash in on the vogue for vintage". Drapers. Retrieved 21 June 2019.
- ↑ "These designer handbags are still increasing in value despite the lockdown". Marie Claire. Retrieved 12 May 2020.
- ↑ "The best online vintage clothing stores if you want to be chic and sustainable". Marie Claire. Retrieved 13 May 2020.
- ↑ "How To Shop For Vintage". Sheerluxe. Retrieved 29 January 2020.
- ↑ "Startups 100 2017: The longest-running index of the best new businesses". startups. Retrieved 22 May 2017.
- ↑ "Open for Vintage Limited". crowdcube. Retrieved 2018. Check date values in:
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