Start-Up Privé Porter Rises To No. 1 Global Purveyor Of Rare Hermes Bags And Moves To NYC
Confirms Fast-Evolving Consumer Trends Are Dramatically Disrupting Traditional High Luxury Shopping
Reflects Understanding of Affluent Consumer Trends, and Innovation in the Authenticated Luxury Resell Space
NEW YORK, May 1, 2017 /PRNewswire/ -- Privé Porter, has become the world's largest re-seller of rare Hermes collectable Birkin bags, and has announced its relocation to New York City.
Founded by wife and husband Michelle and Jeffrey Berk in 2008, Privé Porter has become the most significant player in the Birkin bags business with 2016 sales totaling $20 million. With 90 percent of their business conducted on Instagram and more than 80 thousand followers, they have been silently disrupting the business of luxury handbags by building and evolving their business around avid Hermes Birkin bag collectors. Privé Porter buys from and sells to collectors in approximately 50 countries with the USA and Middle East each representing one third of its business.
Birkin Bags Outperform S&P and Gold Becoming a "Stylish investment Tool"
According to a recent report by The Independent1, in the last 35 years, the Birkin bag significantly outpaced the S&P 500 and the price of gold – rising by 14.2 percent over the same period never trending down, versus an average return of the S&P of 11.6 percent and gold at 1.9 percent. This has established the Birkin, as not only a timeless status accessory, but also as a favored investment with a lower barrier of entry than art and jewelry and easy to cash in at any time.
Privé Porter's Growth and Move to NYC Reflects How NY Power Private Shoppers Drive High Luxury Spending Trends
Privé Porter established its presence in the early days of Instagram, conducting most of its business through that platform, which allowed it to go directly to customers. It caters primarily to EIPs or "Extremely Important People," who purchase online or by making private appointments.
According to Jeffrey Berk, Founder & CEO of Privé Porter, " Privé Porter's EIP clients are our biggest influencers, representing 75 percent of our annual sales. They are front-row clients from across the globe who influence trends, and have a passionate appreciation and deep understanding of exquisite and rare luxury accessories."
Given Privé Porter's growing New York clientele, the Company has relocated to the heart of Manhattan, in an historical six-floored, 4,800-square footed, townhouse built in 1875, with original details, and a sprawling private garden.
"Privé Porter's Maison Privé, is a five-story rare handbags' 'dream house,' where customers and friends can view an extensive offering of rare Birkin bags and other exceptional designs. The collection can be seen strictly by appointment or invitation. Privacy and discretion are of utmost importance for us, and this is why we don't communicate to the public Privé Porter's address." Said Mr.Berk.
Mr. Berk continued, "While most of Privé Porter's business comes from Instagram, our customers value discretion, thus, most of our transactions happen in private settings. We are now positioned to visit our customers at their homes and hotels. Privé Porter's unique proposition is that, unlike Christie's and The Real Real, we are not a consignment business, and very importantly, can provide immediacy to our community of customers without the auction houses' long bidding and consignment timing. Once Privé Porter identifies an extraordinary design, we have the ability to immediately pay the seller which allows us to acquire the most coveted pieces, while fulfilling orders faster than any other company in the space."
Last year, Privé Porter held the record sale for a Birkin bag at $298,000, as reported by WSJ.com2. It was a vibrant crocodile 35 cm Braise Porosus Crocodile with 18K hardware and 10.8 carats diamonds. At the moment, the company has a more rare one on sale, a 30 cm Violet Porosus Crocodile with 18K hardware also with 10.8 carats diamonds, with a price tag of $349,950 (see images below).
Press contact: Liv Terminiello – [email protected] -- 917 770 7255
SOURCE Prive Porter
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