Open for Vintage (OFV), a Dublin and London-based luxury re-sale technology platform and Luxclusif, a company wholly owned by Farfetch, have announced a partnership to power The Loop handbag buy back service.

The Loop is accessed directly on the OFV website and allows customers to trade-in their designer handbags in exchange for store credit that can be used towards future purchases on OFV.

Customers simply submit product details and photographs of their bags and a proposed buy back price is generated within two days. Once accepted by the customer, the bag is sent to Luxclusif for verification free of charge.

Once verification is complete, OFV provides the store credit to the customer and Luxclusif retains ownership of the bag, increasing the volume of pre-owned merchandise across the wider Farfetch network.

The Loop launches together with a brand new OFV website. As part of this major upgrade and to enhance the overall customer experience, OFV has migrated its order management solution to leading marketplace platform Onport, another wholly-owned Farfetch company.

“The launch of The Loop and partnership with Luxclusif and Onport supports our mission to create the most trusted destination in re-sale by offering customers an unparallel experience to discover, shop consciously and extend the lifecycle of luxury goods,” said Colin Saunders, CEO of Open for Vintage.

The Loop will be available in the UK and EU from today before rolling out across the US.

www.openforvintage.com