Economy
Second-hand fashion revives virtues in China's middle class
(Xinhua)
Updated: 2010-10-03 15:13
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BEIJING - A chief executive officer at an IT company, Lin Jiang is one of Beijing's new rich, but he spurns flash department stores.
Once a week, Lin goes to a small shop near the Beijing Railway Station to look for vintage jewelry.
"I have just found an emerald bangle with delicate carving. It's rare and the price is reasonable," Lin says.
The shop, Rain-WOW Consignment, sells all kinds of second-hand luxury goods, from brands like Louis Vuitton, Gucci and Hermes, and including bags, jewelry, watches, clothes and shoes. Most of the goods are nearly new.
"When it comes to luxury goods, it really doesn't matter much whether they are new or used. The uniqueness and quality are the most important," Lin says.
He began collecting vintage goods while living abroad. "One of my friends liked my watch and wanted to exchange it with his, which was more expensive. He liked the design," Lin says. "Gradually I understood that owning a favorite thing is more important than whether it is new."
The prices at Rain-WOW Consignment are also a draw. "Here I get good stuff at good prices. The bangle I bought could go for twice the price if I wanted to sell."
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Rain-WOW Consignment has seven outlets in Beijing, making it the city's largest vintage chain store. The flagship shop near the Beijing Railway Station opens from 10 am to 8 pm seven days a week.
"We get busy at around four o'clock in the afternoon," says shop assistant Huang Xiaohua. "Most of the customers are Chinese from around the country. Jewelry sells best."
Lu Runwu, chief executive officer of Rain-WOW Consignment, started the business three years ago.
"The idea came to me when my rich friends found it hard to deal with luxury goods they no longer liked or needed," Lu says. "When I lived in Switzerland, recycling was a common part of the low-carbon lifestyle. I thought I could introduce it to China."
However, it failed to find a market initially.
"At first, not many Chinese liked second-hand goods. They thought their value was diminished, but gradually they accepted it as their awareness changed," Lu says.
Lu pays about 1.3 million yuan ($194,320) for Rain-WOW's annual rent.
"We can break even during the week and make a profit at the weekends," she says.