Business

ReLuxury, the first trade fair dedicated to second-hand luxury opens in Geneva

From 4 to 7 November 2022 in Geneva (Hotel Président Wilson), the first edition of the ReLuxury trade fair dedicated to second-hand luxury will open its doors to the public. Lovers of second-hand watches, jewellery, fashion and leather goods will be able to buy, sell or have their objects repaired. Organised alongside the GemGenève auction and trade show, ReLuxury aims to capitalise on the growing second-hand and vintage market.

Cristina D’Agostino

By Cristina D’Agostino02 novembre 2022

Fabienne Lupo, Managing Director and founder of ReLuxury (DR)
eBay is increasingly investing in the luxury sector (eBay Watches)

Fabienne Lupo, former CEO of the Fondation de la Haute Horlogerie and now CEO and founder of ReLuxury, has imagined this new kind of fair to be in line with the growing second-hand market. According to the Luxury Outlook 2022 study, carried out by BCG x Comité Colbert, the sector has grown twice as fast as first hand and is expected to be worth around €33 billion by 2021. It is expected to exceed €50 billion by 2025. The global resale platform eBay, a founding partner of the fair, will be present at the event. "eBay really believed in ReLuxury from an early stage, explains Fabienne Lupo. The platform wanted to invest more in the luxury sector, an image linked to this industry that it still lacks in Europe, whereas in the United States, cars worth several million are bought on eBay. The platform now links the purchase of watches worth more than 2000 dollars to a guarantee certificate. It has structured itself internally to be in line with the requirements of the sector. ReLuxury's purpose is also to explain the guarantees and to reassure customers about the traceability of goods, as it should be remembered that second-hand sales are mainly active on the digital market. It was therefore important to organise a physical show to allow visitors to see and touch the luxury items."

ReLuxury's purpose is also to explain the guarantees and to reassure customers about the traceability of goods

Fabienne Lupo, Managing Director and founder of ReLuxury

The fair, whose budget for its organisation has been estimated at less than one million francs according to Fabienne Lupo, is mainly financed by partners and exhibitors (30 exhibitors). ReLuxury allows visitors to try on and buy products at fixed prices. Enthusiasts can also bring their collectors' items (watches, jewellery, handbags) to have them evaluated by experts present at ReLuxury, and even sell them, if they are interested.

Many watch and jewellery brands are not yet clear on how to manage the second-hand sector

Fabienne Lupo, Managing Director and founder of ReLuxury

Fabienne Lupo explains: "My first idea was to organise ReLuxury with all the watch and jewellery brands, as these are of course the ones I know best. I contacted them all, including those belonging to the Richemont group. But I realised that for many of them, they were not yet clear on how to manage the second-hand sector, either directly or with a partner. All of them found the idea very attractive, but a little premature. Others, such as Richard Mille, accepted immediately, as it has a "Certified Pre-Owned" distribution network. The brand will not be selling anything, but will be exhibiting some rare models such as the RM 002 Manual Winding Tourbillon." Another partner of the show, the watch resale platform Watchbox will be present with a dedicated space and will offer rare models, including an F.P. Journe Chronomètre à Résonnance and a De Bethune DB1 Monopusher Chronograph.

The fashion sector will also be present at ReLuxury (DR)

Could ReLuxury one day become affiliated with a show like Watches & Wonders, the world's leading watchmaking event? Fabienne Lupo replies: "No, that's another Momentum. The idea is not to put the first hand and the second hand next to each other. Moreover, brands have to invest in this business first, and it is not yet clearly structured. But what is interesting to understand is that Porsche, for example, makes 30% of its turnover with the Porsche Classic section. Similarly, jewellery brands are already doing this, such as Cartier and van Cleef & Arpels, which include a heritage collection."

ReLuxury will also welcome the fashion sector, which is highly concerned by second-hand goods. Swiss operators such as Closet Genève and Julia's dressing will come with beautiful Valentino, Pucci, Chanel, YSL pieces and fashion accessories.

The first edition of ReLuxury in Geneva aims at an attendance of 4000 people (DR)

ReLuxury is aiming for an attendance of 4,000 people. "I would ideally like to have a thousand visitors a day, explains Fabienne Lupo. I also hope to export ReLuxury around the world, to London, Paris, Dubai, among others, with projects already under consideration, in a B2C approach, to raise awareness of the circular economy."

An educational programme will also be offered during the four days of the fair, with discussions around sustainability, recycling and environmental and ethical issues, as well as the screening of two documentary films: the film Slay by Rebecca Capelli and the film Sur le Front by Hugo Clément.

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