- Second-hand luxury goods retailer Luxity says it has increased sales by 63% despite the pandemic.
- One of the most expensive items he has sold is a Hermès Birkin bag which sold for 220,000 rand.
- The preferred brand of its buyers is Louis Vuitton, and customers are now showing significant demand for Hermès and Chanel, which do not have stores in South Africa.
- Watches are also growing in popularity, and Rolex is the most popular. One recently sold one for R210,000.
- For more stories, visit www.BusinessInsider.co.za.
As many retailers suffered during the Covid-19 pandemic, Luxury, a second-hand luxury goods dealer in South Africa, was booming.
In its fiscal year ended February 2021, the retailer sold a wanted Hermès Birkin bag for Rand 220,000, just two minutes after listing it on its website.
Sales at the company, which has stores on Nelson Mandela Square and Menlyn Main in Pretoria, have jumped 63%, he said.
Here are the five most expensive Luxity items sold during the period.
Herm̬s Togo Birkin 35 Black Р220,000 rand
The Hermès Togo birkin back was sold for 220,000 rand. (Image: furnished / luxury)
Rolex Oyster Perpetual Datejust– R210,000
The Rolex Oyster Perpetual Datejust was sold for R210,000. (Image: Supplied / Luxury)
Herm̬s Taurillon Cl̩mence Returns Kelly 35 GoldР200,000 rand
Hermès Taurillon Clémence Retourne Kelly was sold for 200,000 rand. (Image: furnished / luxury)
Rolex GMT-Master II– 150,000 rand
The Rolex GMT-Master II sold for 150,000 rand. (Image: furnished / luxury)
Christian Dior Diamant Christal Watch– 100,000 rand
Christian Dior diamond watch. (Image: furnished / luxury)
Michael Zahariev, the co-founder of Luxity, said the sales were driven by a combination of factors, including increased demand from wealthy people who diverted their usual vacation spending to luxury purchases due to international travel restrictions caused by the pandemic.
“We have had a lot of high net worth clients who have told us that they have never had more money available than they do today,†Zahariev said.
Spending for luxury brands that would have occurred while traveling abroad also landed at Luxity.
“You’ve seen it in the luxury goods industry in general; if you look at Louis Vuitton and Gucci in general in South Africa they work really well.”
“A lot of people who would buy overseas now come to us because, for example, there is no Hermes in South Africa, there is no Chanel in South Africa,” said Zahariev.
Customers have also purchased weird luxury items, including these.
Gucci mouse pad for R2 000.
A Gucci Guccissima mouse pad. (Image: furnished / luxury)
Hermès post-it holder for 3,000 rand.
A Hermès Swift leather post-it and notepad holder. (Image: furnished / luxury)
Hermès footpick for R4,500.
Hermès Vachette Pouchette and Cure-Sabot. (Image: furnished / luxury)
Chanel snow globe for R5,000.
Chanel VIP Christmas Snow Globe. (Image: furnished / luxury)