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DISCOUNTED HIGH FASHION

Tista Sengupta| Posted On: 17-Nov-2012


For those who lust for luxe brands, here’s a store to serve your purpose. Fatema Lokhandwala, owner of Branded Bargains, a store that sells pre-owned luxury goods is here to provide high-end fashion at affordable prices. A brainchild of Fatema, the store’s concept found its inception at a kitty party, where she heard ladies discussing how their wardrobes were loaded with Guccis, Louis Vuittons, Burberrys and Diors that they have hardly carried once or twice. Speaking to Sk, Lokhandwala tells us more about the idea behind the store and how it operates...

 

When and how did Branded Bargains start?
I have seen my friends talking about a space crunch in their closets, because of too much merchandise. So, I thought of initiating a business of selling pre-owned luxury items that is already in vogue in foreign countries. It was in January this year that I launched my store in Mumbai. There are many women and men who do not have mega bucks to spend, but always dream of owning high-end products. This concept will help my clients make space in their wardrobe by providing their luxury or designer products on sale and shall also make the dream of having an LV or Dior come true for those who aspire to own one.


How do you source these pre-owned luxury goods?
Word-of-mouth has always worked for my store. I never had a marketing strategy due to fund constraints, but I have actively used the social networking platform to create awareness about the endeavour. Be it sellers or buyers, majority of them have come to know about Branded Bargains through the Internet.

Which are the brands available at Branded Bargains?
We have brands like Marc Jacobs, Juicy Couture, Louis Vuitton, Christian Louboutin, Armani, Just Cavalli, Coach, Dolce & Gabbana, Fendi, Gucci, Miu Miu, Salvatore Ferragamo, Prada, Versace, Valentino, to name a few. From bags, footwear to accessories like sunglasses, belts, wallets, tie-pins, money clips and pens, we have it all.


How is the selling price determined?
The brand to which the product belongs and the condition of the item is what I majorly keep in mind while determining the price. Along with that, I also make sure that my client has the authority in finalising the price, as he or she originally owns the product. If I find my client under-quoting or over-quoting, I always guide them. After all, I am aware of the pulse of the buyers.

Which kind of a business format does Branded Bargains follow?
We follow the consignment boutique format in which we accept the pre-owned goods from clients for three months. If the product goes unsold, we either return it to its actual owner or go for another 90 days of consignment, if the client insists.


Tell us about the footfalls and the sweet spot in terms of products.
If anyone wants to buy from my store, they need to have an appointment with me, so that I can attend to them well. There have been times when I have had three-four appointments back-to back in a week, and sometimes it’s been a dry patch. But on a whole, at least 20 clients inquire and walk into my store fortnightly. Talking about the ticket price, the goods in my store range from Rs. 3000-1,00,000, but the sweet spot in terms of products has always been in between Rs.20000-30000.


So at last the wait to own a high-end brand or a designer label seems to have ended. Grab your favourite pieces from Branded Bargains, and flaunt luxury in style.


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