Rebag launches Rebag+, charging $50/month or $500/year, converting into store credit, with perks like free shipping and returns. CEO Gorra aims to boost sales, targeting dormant customers, amid a "deceleration" in growth.
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.
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.
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.
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+?
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