Latest / Bloomberg Intelligence / Portero's Clarbour on the Luxury Consignment Industry (Audio)

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Portero's Clarbour on the Luxury Consignment Industry (Audio) · Bloomberg Intelligence

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  Speaker 1: Broadcasting live to New York, Bloomberg eleven to Washington, d C.
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  Speaker 1: Bloomberg to Boston, Bloomberg Well, Undige to San Francisco, Bloomberg
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  Speaker 1: and around the globe the Bloomberg Radio plus append Bloomberg
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  Speaker 1: dot Com. This is taking stock attainable luxury. It can
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  Speaker 1: get just a little bit harder every day as the
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  Speaker 1: cost of luxury goods continue to rise. With a perfect
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  Speaker 1: entry point for Portrero, a place where you can find
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  Speaker 1: pre owned luxury goods, many of them of great quality
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  Speaker 1: at prices that you can take advantage of because someone
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  Speaker 1: else has owned it for a little while, but so
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  Speaker 1: luxury good people take care of them. We're very We're
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  Speaker 1: gonna be talking to the chairman of Portrayro here, and
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  Speaker 1: Jill Schneider. This is Bloomberg Katherine. Thank you. And here's
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  Speaker 1: a quick check of the equity Banchmark style industrial laboratory
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  Speaker 1: main entire up at thirty four points at seventeen thousand,
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  Speaker 1: nine hundred sixty three smp F, I founded up five
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  Speaker 1: point at twenty one oh four, NaSTA twenty two point
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  Speaker 1: at forty eight sixty four. And that's a Bloomberg business flash.
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  Speaker 1: Bloomberg taking stock the Lutch Life, Jews properties valuable nature
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  Speaker 1: in a front house. Can I be your financial adviser?
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  Speaker 1: It's good to be keen. I thought of your right
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  Speaker 1: and then I've got out in. Remember how much I
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  Speaker 1: wanted a big backyard with Grecian statue sh shaped hedges
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  Speaker 1: Stock the lux Life on Bloomberg Radio. A born and
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  Speaker 1: bred New Yorker, our next guest began her career in finance,
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  Speaker 1: working as a Nasdac trader, luxury has always appealed to her.
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  Speaker 1: In fact, whenever first Luxury Splurges was a Todd's bag
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  Speaker 1: many years ago. Now she is the chairman of Portero Inc.
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  Speaker 1: She is set up a curated marketplace more than ten
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  Speaker 1: years ago for authentic, pre owned luxury goods. Alexis Clarbert
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  Speaker 1: joins us now here in our New York studio. Welcome,
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  Speaker 1: Thank you for having me. So what first? When did
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  Speaker 1: you get interested in luxury? And growing up in New
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  Speaker 1: York just luxury all around you, right? Is that what?
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  Speaker 1: It was? A family connection? What really entice you to luxury? Well,
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  Speaker 1: it was the idea that people really love, the idea
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  Speaker 1: of of luxury. And I started working for a company
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  Speaker 1: called water Works, which is a very high end luxury fittings, fixtures,
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  Speaker 1: bathroom company, and I learned a lot about those kinds
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  Speaker 1: of customers and what their expectations were. And the reality
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  Speaker 1: is is that there is value to be found in
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  Speaker 1: in many different things. And I really gravitated towards the
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  Speaker 1: luxury markets and the luxury customer. So how did you
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  Speaker 1: go from the NaSTA to water Works? Good question? Through
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  Speaker 1: a family connection. My mother worked in materior design magazines
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  Speaker 1: and I just loved that whole world. And but I
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  Speaker 1: learned a lot from water Works about branding, about marketing
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  Speaker 1: and luxury good So then if you set this company
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  Speaker 1: in two thousand four, so what how did you get then?
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  Speaker 1: I mean, what was it you just said, bingo, everything
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  Speaker 1: is going online e commerce or was it just what
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  Speaker 1: was it? Right? Well, Portero was set up before I
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  Speaker 1: said that Portero has is really the pioneers of the
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  Speaker 1: pre owned luxury marketplace. I came in about three years
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  Speaker 1: ago and recognize that we had more work to do.
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  Speaker 1: The reality is is that the Portero customer is a
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  Speaker 1: very astute customer. Are average dollar transactions about two thousand dollars,
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  Speaker 1: which not many of those other websites that you might
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  Speaker 1: know that sell pre owned goods can say, um, So
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  Speaker 1: we really focused on the best of the best. We
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  Speaker 1: leave the rest to others, and we're very highly curated.
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  Speaker 1: So when we say an item's an excellent condition, it
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  Speaker 1: means it's really probably even worn a couple of time.
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  Speaker 1: Who you got two groups of people I'm interested in.
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  Speaker 1: One of course is your customer, But the other side
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  Speaker 1: of it, who are the people who come to you
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  Speaker 1: to consign their their vintage handbads. They're very high and goods. Well,
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  Speaker 1: these are people that have done their homework. They recognize
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  Speaker 1: that Portero is a place where they can get the
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  Speaker 1: fair market value for the item. There are other websites
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  Speaker 1: that almost have a liquidation type mentality, but we really
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  Speaker 1: want to um, you know, value the bag and want
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  Speaker 1: and want to preserve the integrity of the secondary market place.
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  Speaker 1: Tell me about the bag you have in front of
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  Speaker 1: us today here in York. Sure, this is a beautiful
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  Speaker 1: vintage crocodile Kelly bag. Um. This was purchased back in
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  Speaker 1: the eighties for about in Paris. We are selling it
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  Speaker 1: on our website for twelve thousand dollars. WHOA so? How
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  Speaker 1: much with the customer, the person who's consigned it to
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  Speaker 1: you get out of that? What's the what's the fee
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  Speaker 1: or what's the um? Well, if an item is over
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  Speaker 1: ten thousand dollars, we take a commission so they get
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  Speaker 1: se of the value. That is highly competitive. If the
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  Speaker 1: item is under ten thousand dollars, they actually get um
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  Speaker 1: seventy percent of the value. How big is the business now?
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  Speaker 1: How big can it get? Oh? The secondary resale market
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  Speaker 1: is a billion dollar industry. It is, and it is
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  Speaker 1: growing everyday. Portero for example, this year we're up. We
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  Speaker 1: do not see the momentum slowing at all. I think
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  Speaker 1: that people look at set at the secondary market and
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  Speaker 1: understand the value that that they can buy in the
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  Speaker 1: in the market and also that they can sell or
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  Speaker 1: consign in the secondary. Are your customers and your consigners
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  Speaker 1: or consignments are they mainly in the United States? Is
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  Speaker 1: it global? It's global. I mean, we focus our consignment
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  Speaker 1: program in the United States, but we because we are
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  Speaker 1: a global marketplace, we do get inquiries all you know,
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  Speaker 1: from all over the world. A lot of our buyers
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  Speaker 1: are all over the world. Um actually right now it's
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  Speaker 1: about seventy US thirty percent international. You see a lot
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  Speaker 1: of demand in Asia and duh. So if somebody wanted
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  Speaker 1: to uh actually just send you something to sell or
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  Speaker 1: buy something, what do they do? They go online to
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  Speaker 1: poor terot dot com and uh, actually, we're having a
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  Speaker 1: great Independence Day sale right now off of select items.
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  Speaker 1: So it's a great time to shop our site. Just
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  Speaker 1: really quick. What's one of the least expensive items for
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  Speaker 1: people who are still striving to the top of luxury
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  Speaker 1: the most expensive. Well, I'm gonna focus on handbags. Um
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  Speaker 1: I would say on handbags you can get a great
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  Speaker 1: value Louis Vuitton for about fifty percent off, and then
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  Speaker 1: you have your holy grail of the rez Birkins, which
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  Speaker 1: can run you six figures. But that's for a pristine
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  Speaker 1: bag meaning unused. Alexis Clarbor, how fast. What a great
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  Speaker 1: job it is. It's a lot of fun. Come over
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  Speaker 1: and see us sometime. You bet. She's chairman at poor
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  Speaker 1: terot Egg based here in New York City. I'm Kathleen Hayes.
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