Monogram Paris (formerly ByLuxe) is testing the American market. Founded by Beverly Sonego, the French website specialising in the sale of second-hand luxury goods, has just opened its first pop-up shop from 10 May to 15 May in New York. It will then fly to Los Angeles from 25 to 31 May, to showcase its concept of “making the luxury market accessible to as many people as possible”, with vintage products from luxury brands (Louis Vuitton, Chanel, Hermès, etc.) or designers such as Off-White or Jacquemus.
For the pure-player, which has managed to make its mark in France, this is a first step towards export.
Heading for the export market
“I’ve been working on the second-hand market for fifteen years,” explains Beverly Sonego. “Today, the next step is the internationalisation of our concept. We are interested in many markets such as Dubai, Morocco, Singapore, Hong Kong, and of course the United States.”
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Across the Atlantic, she believes that “the prices of the second-hand players”, i.e. TheRealReal and What Goes Around Comes Around, “are prohibitive and offer a place for a more accessible brand” like hers. She wants to “seduce both French customers who live in New York or L https://libido-de.com/.A., but also source new products”.
The company, which currently employs 30 people, has recorded strong growth over the past three years, including +150% in 2020 and +40% in 2021 (to 6.5 million euros). 12 million by 2023.
At the beginning of 2021, the site changed its name from Byluxe to Monogram Paris, better highlighting its French roots, and modernised its logo and graphics. Last year, it attracted more than 120,000 visitors thanks to a quality approach, both upstream (authentication and enhancement of the products entrusted to it in a deposit-sales approach) and downstream (advice and premium services to customers).
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Although it is now interested in exporting, Monogram Paris is not neglecting its home market. A concept store project is thus envisaged in the French capital.
Read also > THE REALREAL PUBLISHES THE FIRST-EVER SCIENTIFIC MEASUREMENT OF THE IMPACT OF SECOND HAND
Featured photos : © Galeries Lafayette / Monogram Paris
