Luxury Shoe Club (LSC) recently launched a new membership club, an iPhone app and a next-generation shoe trading platform for pre-owned designer shoes.
While there are currently some solutions in place that help consumers buy and sell designer goods, LSC set out to create a new option that will ultimately save people time and money. As Scott Van Valkenburgh, Luxury Shoe Club's Chief Shoe Evangelist, puts it: "I wondered why women with the same shoe size couldn't just trade shoes they no longer wear with each other."
LSC has its members use points to buy and sell shoes, where one Club Point is equivalent to one US dollar. When a pair of shoes has been listed, LSC uses a proprietary pricing algorithm to determine the pre-owned luxury shoe's resale value and pays 50% of it instantly—which offers an incentive for users to instantly shop the closets of other members.
What's Driving This Trend
- Luxury Shoe Trading
- LSC launched a platform for pre-owned designer shoes with a point-based system, disrupting the luxury shoe trading market.
- Peer-to-peer Shoe Sharing
- LSC seeks to save people time and money by allowing women with the same shoe size to trade shoes they no longer wear with each other, disrupting the traditional designer goods market.
- Proprietary Pricing Algorithm
- LSC uses a proprietary pricing algorithm to determine the pre-owned luxury shoe's resale value and pays users 50% of it instantly, disrupting the traditional resale market.
Who This Affects Most
- Luxury Fashion
- Luxury Shoe Club's platform for pre-owned designer shoes could disrupt the traditional luxury fashion market.
- Resale
- By using a proprietary pricing algorithm for determining resale value and offering instant payment, Luxury Shoe Club could disrupt the traditional resale market.
- Peer-to-peer Trading
- Luxury Shoe Club's point-based system for trading pre-owned luxury shoes amongst members could disrupt the traditional peer-to-peer trading market.
