Press Highlights
BUISNESS OF FASHION: How to Choose a Resale Partner
Choosing the right one requires understanding which resale model makes the most sense for a brand's specific needs and customers.
Ultimately, launching a resale service should command the same kind of thought and consideration that goes into designing a collection, according to Mimi Margalit, a retail strategy consultant and former head of DTC merchandising at Rebecca Minkoff.
“Resale is merchandising,” said Margalit. “If you don’t pick the right experience, if you don’t pick the one that your customer finds the most meaningful or resonates the most, then it’s not actually going to be the most successful.”
“Ultimately, resale is an extension of your brand perception,” she said. You’re presenting your brand through this experience…”
“Rental & Resale is definitely something that will become mainstream with many emerging software founders focusing on ways the current solutions can be re-engineered to accommodate different business models.”
”The combination of both rental & resale is extremely interesting. For instance, buy this item now, resale it later for a trade in value on your next purchase.”
“The main challenge with rental as a service integration is profitability.”
"On the brand side, forecasting demand and inventory management complexities require significant investment in merchandising expertise.”
BRIJ: How Your Brand Can Get Started With OmniChannel Marketing
March 17, 2022
“A McKinsey article advises brands to (1) understand which channels to prioritize given the company’s long-term goals and current resources, (2) focus on customer value over seemingly exciting tech innovations, and (3) invest strategically based on the company’s capabilities. The very essence of omnichannel is personalization, and every brand’s omnichannel strategy will look different.”
“Mimi Margalit, an advisor of omnichannel merchandising strategy and retail innovations, provides insight on how brands can get started with omnichannel: “You have to meet the customer where they are right now. There are strong wholesale businesses that need to enter the digital space, and digitally native brands that need to enter wholesale. These are two completely different business models.”
“I help brands cost-effectively reverse engineer the DTC business model by partnering with a tech company that makes sense for their specific model,” Margalit says. “For me, it’s about thoughtfully matching the capability to the brand – which will ultimately surprise and delight the customer. That's the magic of good retail.”