Today, Luxury Shoe Club (LSC) launched a membership club and App for trading pre-owned designer shoes. Ostensibly inspired “through repeated conversations with shoe lovers who were fed up with the process of consigning and buying pre-owned designer shoes. Tired of losing money on reseller fees, they wondered why women with the same shoe sizes couldn’t simply trade shoes they no longer wear with each other instead of losing money on consigning. And with this idea, Luxury Shoe Club was born…”
LSC Trading App
Niftily side-stepping some legal pitfalls by trading as a members’ club for pre-owned designer shoes, Luxury Shoe Club differs from competing services: “List only the best pre-owned designer shoes, make the App simple and easy-to-use and eliminate the hassle and expense of consigning and reselling.”
The business model takes a moment to understand as cash is not involved. Instead, the currency used by club members is something mysterious called “points”.
Each Club Point is valued at one US dollar. When a member lists a pair of shoes, LSC uses its proprietary pricing algorithm to determine its resale value and then pays 50% of it instantly. The remaining amount is paid after the shoes are bought. Members immediately earn points to shop from other members’ shoe closets without having to wait until their shoes sell. The more shoes they list, the more points they earn upfront for “buying” famous name designer shoes.
The App is available from APPLE store.
The logistics are intended to be hassle-free with personalized shopping, express shipping, at-home pickup, free boxes and a 7-day return policy.
For A Limited Time Only – FREE Club Membership
In celebration of today’s launch, for a limited-time only, Luxury Shoe Club is waiving its annual membership fee and offering FREE memberships to members who list shoes within 7 days of joining.
There are three membership levels to choose from: Intrigued ($49/year), Passionate ($99/year), or Obsessed ($149/year). Depending on the membership level, benefits include bonus Club Points for shopping, savings on Club Point purchases, discounts on shoe repair & polishing, free shipping boxes, and free shipping for shoe purchases.
The U.S. women’s luxury shoe market accounts for $8.6 Billion annually. Over the past five years, the average price of women’s designer shoes has surged to $770 a pair. The sale of “pre-owned” designer shoes has skyrocketed to more than $800 Million a year.
Scott Van Valkenburgh, Luxury Shoe Club’s Chief Shoe Evangelist, said: “When I saw how much money and time it cost women to sell their shoes on The Real Real, Poshmark and eBay, I wondered why women with the same shoe size couldn’t just trade shoes they no longer wear with each other.”
“We have completely taken the hassle and expense out of buying and selling pre-owned designer shoes,” says Van Valkenburgh. “For women who love shoes, who want variety at a fraction of the cost, Luxury Shoe Club is the answer.”
There are various benefits touted like saving time and money by using Club Points instead of cash or getting 50% credit upfront for listing your shoes that you can immediately buy shoes before yours are sold.
They claim that you always get the full resale value when you sell your shoes in Luxury Shoe Club without consignment fees.
I like their assertion of a next-day Home Pickup Cobbler Service from the “world’s best cobbler” because they are one of only two cobblers certified by Christian Louboutin in the United States.
On the LSC website, we can read a couple of quotes from “members”.
“I love Luxury Shoe Club! It’s amazing how easy it is using points to buy & sell between members. It’s so cool, if I get tired of something or just want a change, I can get a new look or style whenever I want!”
Wendy G, LSC Founding Member
“The club is awesome! I just list shoes I no longer wear and I instantly get paid Club Points to shop. I can’t believe how much money I save now! My girlfriends keep asking me where I get such great shoes!”
Samantha B, LSC Founding Member
Luxury Shoe Club started as a cobbler shoe repair business, hence its accreditation with Christian Louboutin.
As we become dependent on social media and live virtual lives, it is a natural progression to also make transactions in an App-based world. AlphaLuxe reported on a similar LAXUS App for designer handbag rental.
Without seeing the “proprietary pricing algorithm”, I can’t figure out how LSC makes money apart from the membership fees and wonder how their resale valuations compare with fair market value.
My only concern is that one of the “founding members” listed on their website – Samantha B – has the photo filename “Desiree M” and looks like a professional model called Iris McKenzie.
The other “founding member” Wendy G listed is well known fashion and image consultant Wendy Bryant Gow so that checks out OK.
Check it out and let us know what you think of LSC Trading App.
Author’s Biography: Melvyn Teillol-Foo (MTF)
Dr Melvyn Teillol-Foo is a contributor on AlphaLuxe web-zine.
He is also a moderator on PuristSPro.com horology discussion fora. He blends his scientific medical objectivity from the pharmaceutical industry with purist passion, in his musings about watches, travel, wine, food and other epicurean delights.
His travelogue ‘Lazing’ and feasting ‘Grazing’ series of articles have now passed into “mythic legend” on the original ‘ThePuristS.com’ website. Those were the halcyon days when he was “rich and famous” that he remembers with bittersweet fondness.
Dr Teillol-Foo is a quoted enthusiast on the watch industry, appearing in feature articles and interviews by Wall Street Journal, International Herald Tribune, Sunday Times (London), Chronos (Japan), Citizen Hedonist (France) and other publications. He has authored articles for magazines like International Watch (iW) – both U.S. & Chinese editions, ICON (Singapore), August Man (Singapore), Comfort (China) and The Watch (Hong Kong).