Starting from the ground up with a content-rich, editorialised e-commerce perspective, a new ‘affordable luxury’ online shopping site launched yesterday, and it’s filling a potentially lucrative gap in the market.
Very Exclusive by Shop Direct
Shop Direct’s new fashion and beauty site, Very Exclusive has launched as a stand alone e-commerce venture, targeting women aged 25-36 who want luxury labels at a price they can afford. While sister shopping sites Very and Littlewoods are also under the Shop Direct umbrella, Very Exclusive is offering designer brands such as Marc by Marc Jacobs, Vivienne Westwood Anglomania, See by Chloe and Red Valentino alongside premium high-street lables including Whistles, Joseph and Reiss, as well as glossy beauty brands Stila or Laura Mercier. All these brands are signed up to Very Exclusive’s credit deal for customers to spread the cost of purchases across three monthly, interest-free payments.
Very Exclusive by Shop Direct
‘We know how women shop and presents an online destination that offers a top-to-toe-nail shopping experience for every occasion,’ says MD Sarah Curran, who previously launched My-Wardrobe. She says shopping on the site is about mixing up catwalk and high-street looks and decoding current season trends into easily digestible wardrobe additions. ‘We want the Very Exclusive shopper to come to us for her seasonal wardrobe or for that Saturday night purchase, knowing she can shop the fragrance, body care and make-up to match,’ says Curran adding her customers can be savvy with their shopping plans. Curran is joined by ex-buyers from Harvey Nichols and Harrods, as well as style bloggers Emily London and Simon Glazin to editorialise the website.
According to a recent savings survey by the Consumer Federation of America, Millennials are getting much better when it comes to having savings goals, with 39% reaching their monthly goals. It remains to be seen how many luxury brands will embrace the idea of free-credit to purchase their goods, but evidence suggests Millennials are keen to spread the costs of splurging online to manage finances. At FarFetch this is also a popular option, especially in Brazil.
* Shop Direct spotted a gap in the market as consumers are shopping across lo-hi retail and contemporary designer brands. After contacting a range of its regular Very customers that already had high basket spending habits, Very was able to confirm the likely demand for a more accessible luxury online shopping destination. It’s about time the multi-brand online retail marketplace was shaken up and Very Exclusive looks set to be driving change in both consumer and brand behaviours.