Global fashion luxury e-tailer Fwrd, has launched a new resale program, Fwrd Buyback, to bolster its sustainability strategy toward circular luxury shopping.
Fwrd Buyback is launched to extend the life cycle of high-end luxury handbags from designers such as Bottega Veneta, Saint Laurent, Loewe, and The Row. It will also contain highlights from creative director Kendall Jenner's continuous edit for Fwrd as well as her personal closet.
The resale program intends to make Fwrd a "one-stop destination for customers" by allowing them to swap previous purchases in great condition for credit to shop on both Fwrd and Revolve.
Furthermore, Fwrd will give "additional incentives" for loyalty members who sell their bags back to them, including 2,000 points for the first repurchase transaction, a 20 US dollar reward, and 1,000 points for subsequent buyback transactions, a 10 US dollar reward.
Fwrd says that the buyback program, which is currently available exclusively to US consumers, will be supported by proprietary data and validated purchase history, with qualified swaps scheduled to be "conducted easily" via a personal Fwrd account up to one year from the initial purchase at full price. After it has been validated and accepted, a credit for 50% of the original purchase amount will be provided.
Handbags approved through Fwrd Buyback will then be reintroduced to the Fwrd community via Fwrd Renew at rates ranging from 25 to 50% off the original retail price.
Michael Mente, co-chief executive and co-founder at Revolve Group, said that with Fwrd Buyback, they are growing the Fwrd portion of their company as a destination for the finest in established and new luxury brands from start to finish.
Mente added that they believe in recognizing exceptional design and fostering a more circular interaction between businesses and customers. They are merging their authentication and service capabilities to offer a diverse range of intriguing items at an excellent value.
Kendall Jenner, who joined Fwrd as creative director in September 2021, added that the more she works with the Fwrd team, the more she realizes how well they know their customers. The Fwrd Buyback program is just another opportunity for them to demonstrate that they are constantly listening and are delighted that it has come to completion after years of hard work improving the system.
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