Black-owned fashion brand Telfar is raising the stakes when it comes to bag resale market value. According to Rebag’s 2022 Clair report, the Telfar Clemons-helmed collection has surpassed legacy luxury brands in average value retention.
“For the first time, [Telfar’s] average value retention on the secondary market exceeds all legacy brands, including Hermès,” states the report released on Tuesday (Oct. 18). The consumer-first resource details market value and trend shifts for luxury accessories within a year. It also gives insight into the best investment pieces, economic predictions, and the biggest collaborations of today.
So far, Telfar has collaborated with Ugg, Eastpak, and Moose Knuckles.
“Even though it’s in the contemporary category price-wise, it carries the same type of status — the Telfar Shopping Bag could even be considered cooler — [as] owning an Hermès bag,” Rebag chief executive officer Charles Gorra told WWD. “The fact that Telfar bags are so coveted but difficult to obtain drives their brand value up.”
He added, “Chanel and Louis Vuitton are increasing prices and limiting their supply to increase their brand value at retail and resale. It shows that a contemporary brand can achieve the success of a luxury brand with the right amount of marketing strategy, hype and prestige.”
“Telfar items, on average, carry an average value retention of 195 percent on the secondary market, meaning that they appreciate to nearly twice as much as their original retail price,” said Gorra.
Hermès bags reportedly carry an average 102 percent value retention at resale. Meanwhile, Louis Vuitton’s is at 82 percent, and Chanel’s is at 87 percent.
Amongst apparel, the multi-colored leather shopping bags retail at $150 for the smallest size and $257 for the largest. The line also offers a medium-sized bag for $202. The bags are guaranteed to sell out soon after they drop on the website each month. Telfar also offers a “bag security program” where customers can pre-order multiple bags at once and receive them at a later date.
The Brooklyn-bred brand recently held a one-day shopping experience at a Rainbow retail store during New York Fashion Week last month.
The pop-up offered an array of bags in all colors and sizes and allowed customers to purchase a maximum of five bags while waiting in line. The event was also filmed by the brand’s network, Telfar TV.
Since launching in 2015, Telfar bags have become an essential accessory in a fashion lover’s wardrobe. The staple piece, nicknamed “The Bushwick Birkin,” has been spotted on various celebrities including Beyoncé, Zoe Kravitz, Solange, Selena Gomez, Lil Nas X, and many more.
Clemens announced that a Telfar New York City flagship store will open sometime this year. The location and opening date have not been revealed.