E-commerce platform Very Exclusive is making luxury fashion accessible by allowing payment in three interest-free installments.
With the exponential rise in prices of designer ready-to-wear and handbags, Millennials have largely been frozen out of the luxury market—prompting many to turn to outlet sites such as The Outnet and rental luxury platforms like Rent the Runway in search of a designer fix.
Now new e-commerce platform Very Exclusive is planning to make the real deal available to all—this season, and for keeps—by allowing payment in three interest-free installments. The company launched this week in the U.K. and sells Marc by Marc Jacobs, Kenzo, McQ, See by Chloe and Vivienne Westwood, among a host of fashion brands.
Very Exclusive is owned by U.K. e-tail behemoth Shop Direct and is the latest example of a mass-market retailer moving into the luxury space—Amazon is another recent one. It’s also the latest example of how new digital platforms are reinventing the idea of discount, and renting, as aspirational for sophisticated (but cash-strapped) Millennials.
Image credit: Vogue