Neiman Marcus Partners To Push In-Store Consignment

Neiman Marcus has its eyes set on selling more and then reselling even more.

The company is partnering with The RealReal, an authenticated luxury consignment company, to expand its in-store consignment service from six to over 34 stores across the country.

The partnership would let luxury shoppers consign luxury goods in the store and get paid in Neiman Marcus gift cards with an extra 10 percent payout value added to it.

“We learned that over 40 percent of our consignor base was interested in receiving their payment in the form of gift cards to their favorite luxury retailers,” said The RealReal Founder and CEO Julie Wainwright.

The strategic move comes at a time when several other online retailers like eBay are stepping into the luxury resale market with their valet services that take care of picking, pricing, photographing and selling the product.

“There is a very real demand for a service-oriented aftermarket solution for selling luxury goods, evident through the thriving business we’ve established. In 2015 alone, we’re projected to pay consignors over $100 million from the resale of their luxury goods,” said Wainwright.

“After seeing the increased demand for this service since its pilot program launched in February, we recognized the benefit of offering the service to our customers across the country,” said Neiman Marcus CMO Wanda Gierhart.

With the partnership in place, The RealReal’s luxury managers would work with Neiman Marcus’ sales associates to provide customized services for each client, ranging from pickup to selling and redeeming.

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