1️⃣ Pay Now, Buy Later Model
Rebag+ membership: $50/month or $500/year; converts to credit; free to join and cancel; additional 2% balance added monthly. CEO Gorra emphasizes retention, aiming to increase customer spend and frequency.
2️⃣ Customer Incentives
Rebag+ offers free shipping, returns, and discounts on merchandise. Gorra calls it "financial planning," encouraging customers to make smaller, frequent purchases. Analyst Minkow praises program's low-risk structure and consumer perks.
3️⃣ Strategic Shifts
Rebag shifts focus from apparel to premium items like Chanel purses and Louis Vuitton wallets. Reduced store count from 10 to 4, emphasizing profitability. Partnership with ThredUp for "Closet Clean Out" service.
4️⃣ Luxury Resale Market
Luxury resale market valued over $32 billion in 2022. Challenges include profitability and authenticating merchandise. Rebag remains cautiously optimistic about Rebag+'s role in business growth.
What perks would entice you to join Rebag+?
