SAN FRANCISCO, CA--(Marketwired - Jun 20, 2013) - Lollipuff, the only online auction site that pre-screens items to guarantee the authenticity of its high-end, pre-owned designer offerings, launched today with a brand new site design and the addition of Balenciaga bags to its repertoire. Unlike traditional consumer-to-consumer auction sites, Lollipuff provides buyers and sellers with the confidence that all items are completely authentic, using an authentication process that is a unique combination of human brand experts and proprietary technology.
Several factors make Lollipuff unique:
- A patent-pending authentication process for pre-screening luxury goods providing an extra layer of security for buyers and sellers
- The lowest selling fees, enabling sellers to net more from each sale
- Low prices for buyers
- Focused only on the hottest clothes, shoes and bags from top designers Herve Leger, Chanel, Christian Louboutin, and now, Balenciaga, attracting serious buyers
- Personalized customer service and close buyer/seller community
According to JustStyle the worldwide market for new luxury fashion is $100 Billion [1]. With the overall resale market for used merchandise estimated at an additional 30%, this would translate to a $30 billion market for resale luxury fashion [2]. Yet, with such a huge industry comes an exorbitant number of counterfeit and fake goods. As the only online site that uses proprietary authentication technology, Lollipuff stands out as the go-to destination for couture items that are guaranteed to be the real thing.
Unlike consignment store websites that charge 30-60 percent, Lollipuff sellers pay just a flat 7 percent listing fee -- so their net proceeds from each sale are much higher. Unlike sites like eBay, there are no counterfeits on Lollipuff. Buyers can be assured that the goods they are purchasing are authentic (this is backed by a 100 percent money-back guarantee).
Lollipuff started out as a blog written by Fei Deyle, an electrical engineer by trade, Herve Leger fanatic by choice, and one of the industry's most well-known authenticators for Herve Leger clothing. Fei began selling some of her own Herve Leger clothing through the blog, and regular readers asked if they could do the same. Soon, there was a three-month waiting list.
"I saw a real market need for a peer-to-peer site for authenticated luxury goods," said Deyle. "We designed a patent-pending process for authenticating items using a combination of very specific photo shots plus technology, so we never have to handle the goods. That keeps our cost structure very low, enabling buyers to get great deals while sellers have a very high margin. No other site offers Lollipuff's combination of low listing fees with authenticity guarantees."
Based on her analysis of competitive sites, Deyle believes Lolipuff's sales already comprise 25 percent of the market for resale of authentic Herve Leger. After starting with only Herve Leger, the company expanded its wares to include Chanel, Christian Louboutin, and most recently Balenciaga. Lollipuff's sales volume is currently growing 33% month-over-month.
Lollipuff operates on a 10-day silent auction format. New items are added to the site for auction every day and potential buyers place a single bid that matches or exceeds the minimum starting bid. At the end of the 10-day period, the highest bidder wins. If there is no winning bidder, the item becomes available for immediate purchase to the first interested buyer.
"I have done a lot of selling on other auction sites and even consignment shops, and I encountered many problems," said Lollipuff customer Iryna Iverson. "Lollipuff is such a great model for selling high-end, pre-owned goods specifically because of its authentication features and low fees. It's a completely different experience that gives sellers like me much higher margins. Lollipuff is now my go-to site for auctioning Herve Leger, Chanel, Christian Louboutin and Balenciaga."
"I've been burned more than once by unknowingly buying knockoffs at very high prices on other auction sites, and having no recourse," said Lollipuff customer Jolyn Johnson. "Then I discovered Lollipuff. I truly feel it is the only safe place for buying amazing couture goods. I won't shop anywhere else."
New customers who are interested in registering for a free Lollipuff account to begin buying and selling can visit: https://www.lollipuff.com/u/register.
About Lollipuff
Headquartered in San Francisco, Lollipuff is the only online auction site for pre-owned designer goods that uses proprietary authentication technology to pre-screen every item sold. No other site offers Lollipuff's combination of low listing fees with authenticity guarantees. Backed by Y Combinator, Lollipuff is headed by CEO Fei Deyle, a well-known online authenticator who has established herself as one of the leading experts in this field. Lollipuff currently sells exclusive Herve Leger, Chanel, Christian Louboutin and Balenciaga designer goods. Visit www.lollipuff.com.
[1] http://www.just-style.com/analysis/luxury-shoppers-lured-by-innovation_id94880.aspx
[2] http://business.highbeam.com/industry-reports/retail/used-merchandise-stores
Contact Information:
PR CONTACT:
Kerry Metzdorf
Big Swing Communications
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