NTH Collective P2P marketplaces launch to share and reuse high-end fashion – Marketplaces
NTH Collective: giving luxury fashion a second life
A new peer-to-peer (P2P) marketplace, NTH Collective, has been launched to make it easier to buy and sell second-hand high-end designer and couture clothing.
After a two-month pre-launch campaign, during which potential users could submit listing requests for items they wish to sell on the site, NTH went live today (October 7, 2021) , initially launched with 200 products, the resale price starts at £ 120.00.
The company was founded in 2021 by Shivani and Rab Selvaratnam, an Australian-British couple of Sri Lankan origin, with a mission to make fashion more circular, enabling the community to make more sustainable fashion choices. .
Unlike other P2P marketplaces, submissions are approved within 24 hours, users can take their own photograph as per site guidelines, and the collective only takes a 17.5% commission, lower than most others. resale sites.
Committed to nurturing a sense of trust within the collective by delivering genuine and authentic products, all submissions go through quality control and all submissions over £ 250 are authenticated before reaching the buyer , in partnership with Real Authentication.
Sustainability and consumer issues have become more prevalent over the past year, with the climate crisis and pandemic forcing people to reassess their drinking habits. Especially in the fashion industry, where a slower, more thoughtful, and more conscious way of buying is on the rise. In fact, according to a global report backed by market research firm GlobalData, the resale market is growing at a rate 11 times faster than traditional retail and is expected to be valued at $ 84 billion by 2030. , while fast fashion is expected to be worth around $ 40 billion.
As fashion lovers themselves, NTH co-founders Shivani and Rab found it increasingly demanding to stay on top of trends that seemed to be relentlessly produced. Determined to be part of the solution, the idea for NTH was born: a community, or collective, of like-minded individuals looking to sell and buy high-end second-hand clothing, with the goal of consume more consciously without sacrificing a trendy over-wardrobe.
NTH offers the best selection of premium clothing from a range of global designers, such as Zimmermann, Fendi and Moschino, allowing consumers to purchase designer items at a fraction of the retail price, while monetizing their own custody. -dress.
Shivani Selvaratnam, co-founder of NTH comments “We are fashion lovers today – our mission is to protect our planet and slow fashion down by extending the life of pre-loved items. We believe fashion has a future and we’re here to do it the right way. “