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In a switch from business online, handbag reseller LuxLexicon has unveiled its first flagship store at The Centrepoint.
Founder Florence Low describes her company as the largest purveyor of Hermes Birkins and Kellys outside Hermes stores in Singapore, and a leader in authenticated luxury consignments for Hermes.
Previously Low ran a boutique custom-publishing business and a luxury flash-sale e-commerce website before starting to sell Hermes handbags via her Instagram account @luxlexicon in 2016. She sold 1500 Hermes handbags through LuxLexicon last year, with the biggest sale being a new Himalayan Birkin 30 handbag fetching nearly $130,000.
“Just as cars and timepieces are status symbols for men, handbags are seen to be the status symbols for women,” says Low. “Of all the handbag brands, the Hermes appeal is very strong because women everywhere recognise that these handbags make for good investments. They appreciate in value over time and are highly liquid when one decides to sell.”
Her flagship store has more than 300 pieces in stock, while her clientele ranges from female professionals and socialites in their 30s to 50s, to men who buy them as gifts.
While LuxLexicon continues selling online, but has done away with private viewings, Low believes a physical showroom will enable customers to interact with her so they can feel comfortable making a purchase.
“When it comes to selling luxury goods, nothing beats seeing my customers in person before they make a purchase. It is hard for someone to part with a five-digit figure based on pictures alone. For that reason, the store is meant to offer buyers the chance to assess an item in person before buying it.”
