Gabriella Demetriades and Punit Anand want to change the perception of pre-loved fashion

The Established speaks to the recent partners of re-commerce platform Luxury Pop about India’s second-hand fashion market and the duo’s plans following their merger

When Punit Anand launched pre-loved marketplace Luxury Pop eight years ago, she often met potential sellers and buyers with an urgent need for privacy. “They didn’t want anyone to know about these transactions, especially their extended family members. They’d ask us to remove the product from the website as soon as it was purchased,” she reveals. Designer Gabriella Demetriades faced a similar problem when she started consigning for VRTT Vintage, a company she co-founded in 2019 with two other partners who are no longer with the business. “People did not want to be seen selling their pieces as they felt it was not a ‘good look’ for them,” says the Mumbai-based model-designer-entrepreneur.

Demetriades and Anand often discussed their experiences of working in the same industry (Anand was also one of the first customers at Demetriades’ clothing label Deme), and over a year ago they thought of merging their two pre-loved fashion platforms. “Even though we had different branding ideals, we were aligned on values,” feels Demetriades. “We are on the same page in terms of sustainability and [making an] impact,” adds Anand.

Now, their entire inventory has been combined to be sold on the Luxury Pop platform. Ninety per cent of their stock comes from reseller consignments. While North India—Delhi, Raipur, Ludhiana, Chandigarh and Amritsar—makes for a bulk of their buyers and sellers, Mumbai, Bengaluru, Chennai, Hyderabad, Ahmedabad and Kolkata are other popular markets. Demetriades has also brought in VRTT Vintage’s popular celebrity sale concept to the company, and they recently concluded one that dipped into the closets of Neelam Kothari, Maheep Kapoor, Bhavna Pandey and Seema Khan. Demetriades’ own closet will be up for grabs next. 

Decoding the Indian market 

According to the online second-hand marketplace thredUP, the resale market is growing 11 times faster than traditional retail and will be worth $84 billion by 2030, compared to fast fashion’s $40 billion valuation. Moreover, the second-hand clothing industry is expected to grow by 127 per cent annually till 2026, thereby promoting a circular economy for the 80 billion pieces of new clothing that are purchased globally every year. About three in every five of these garments end up in landfills within years of production.

Keeping pieces away from these landfills is a driving factor for Anand. It is why they also buy out pieces from certain sellers who are looking for instant cash, rather than consigning it as they normally would. “Sustainability wasn’t my motivation when I started out. The idea initially stemmed from the need to make space in my closet, and I found reselling a popular model the West was following. As I educated myself, the importance of the second-hand goods market for environmental sustainability became more pressing,” she explains.

According to The International Market Analysis Research and Consulting Group (IMARC Group), India’s second-hand luxury goods market size reached $555 million in 2022, and is expected to reach $1,060 million by 2028, with a growth rate of 12 per cent. When Demetriades—who grew up shopping for vintage pieces in South Africa, and on her travels across Europe—moved to India, she found the concept wholly missing here. This is what prompted her foray into the industry. 

Demetriades finds classics always sell instantly in India. “Anything with an LV monogram sells within minutes. With the resurgence of vintage, one-off designer vintage bags like the original Dior Saddle bags or past LV collaborations also do very well,” she says. “Chanel is also very popular because the brand keeps increasing their MRP on their products. Shoppers look for brands not easily accessible in India. Or take a trendy style like the Jodie—the fact that one can get 20-30 per cent off on the retail price for these is a huge draw,” adds Anand. 

Changing notions 

While Indians do love a good bargain, there are many preconceived notions around second-hand purchases. And while a lot may have evolved since the two entrepreneurs entered the industry, there is still more work to be done. Demetriades and her previous co-founders spent a lot of time propagating the cool quotient of their unique offerings, that you wouldn’t spot on three other people on entering a party. “It’s not just about the lower prices. You’re also buying something one-of-a-kind. For the sellers, we helped them understand that it lets you pass on your personal culture, instead of hoarding it in your closet,” she explains. 

The need for education on the subject will not cease to exist in India. At least not anytime soon, according to Anand. It’s an ongoing endeavour for them. “When we take part in pop-ups, we find some customers still don’t know what pre-loved means. They often wonder if these are just counterfeit products,” says Anand. “Luckily, there has been a giant shift in favour of pre-loved due to environmental factors, resurgence of vintage and Gen-Z’s shopping habits. And thank God for that.” 

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