Luxury with a used tag still holds ample value
“In the region, this formula has been used to great advantage by a handful of portals.”
Ms SDM alum, Roupen Karageuzian, is the CEO of Designer-24, an online designer dress hire service based in the UAE that is making luxury fashion more accessible. He was recently featured in a Gulf News article written by Walid Hanna, founder and CEO of Middle East Venture Partners (MEVP). Click here for the full article on Gulf News.
In the article, Karageuzian says, “dresses contributed by users are three times more likely to be rented out compared to those sourced from suppliers, indicating the power of network effects and that people in the same community tend to have similar tastes and needs.”
Hanna notes that, “with rising awareness and adoption of the pre-loved asset sharing concept, and new platforms dedicated to enable seamless access to this rich pool of assets, the behavioural shift in this direction sets the tone for a completely novel way of owning fashion.”