A quiet revolution is reshaping the future of luxury retail. FASHIONPHILE, the pioneer in ultra-luxury recommerce, continues to reshape the pre-owned luxury marketplace through remarkable growth and a deep commitment to sustainability. Since its founding in 1999, the company has evolved from a digital-first business to become the largest resale platform for ultra-luxury pre-owned accessories in the country, achieving its most profitable year to date in 2024.
Record-Breaking Performance and Omnichannel Expansion
Recent financial results reveal that FASHIONPHILE achieved a 67% increase in profits year-over-year, its highest profitability since inception. This milestone highlights the company’s successful transformation from an online-only business to a fully integrated omnichannel luxury leader.
Physical retail growth has been explosive, with a 60% year-over-year increase in physical retail sales. For the first time, more than 20% of FASHIONPHILE’s business comes from new channels, including a groundbreaking wholesale division launched in 2024.
The company’s physical retail expansion began in late 2023 with successful openings in Irvine and Carlsbad, California. Rapid growth followed with locations in Austin, Texas; Lehi, Utah; and Scottsdale, Arizona. Looking ahead, FASHIONPHILE plans to open a permanent store at Fashion Island in Newport Beach, with additional locations slated for Dallas, San Francisco, Atlanta, Boca Raton, and Philadelphia in 2025.
Championing Circular Fashion and Sustainability
FASHIONPHILE’s core mission is to promote a circular economy by extending the lifecycle of pre-loved luxury items. As a Certified B Corp, the company is dedicated to reducing its environmental impact, encouraging responsible consumption, and supporting a more sustainable world.
Choosing pre-loved luxury has a notable environmental benefit. According to company data, a pre-loved Birkin saves 914.8lbs of CO2 and 2,040 gallons of water, while a pre-loved LOVE bracelet saves 1,455lbs of CO2 and 654 gallons of water. FASHIONPHILE has transitioned to solar energy as part of its commitment to sustainability.
Strategic Partnerships and New Initiatives
Nicole Richie, fashion icon, actress, and entrepreneur, was named FASHIONPHILE’s 2025 brand ambassador. In her exclusive interview with People, Richie shares her longtime love of vintage shopping and highlights how she enjoys the hunt for unique, pre-owned luxury items. She describes her partnership with FASHIONPHILE as a natural fit, noting her enthusiasm for curating a special collection of pre-owned accessories and her approach to sharing her closet with her daughter.
Nicole Richie, fashion icon, actress, and entrepreneur, said, “Vintage shopping is so emotional. That hunt is something that I really enjoy,” emphasizing the personal connection and excitement she finds in discovering and preserving luxury fashion.
FASHIONPHILE’s partnership with Neiman Marcus, established in 2019, has enabled the company to extend the useful life of luxury goods.
Ben Hemminger, co-founder and CEO of FASHIONPHILE, said:
“We are not buying directly from the brands. There are relationships that we maintain with the brands, and it’s a partnership on the trade-in and trade-up services. With Neiman Marcus, we’ve had a five-year-plus partnership where the value there has been that we can help their customers who are primary shoppers at Neiman Marcus turn last year’s or prior years’ treasures into a new purchase at Neiman Marcus by going through the Fashionphile sales channel. We partner with them on the intake of bags. With other brands that we speak to, typically, the conversation is about how we can help them enable their customers to trade up their old purchases. We are purchasing inventory from the brands, and that’s by design. We want to be the pre-owned version of luxury retail. You have all the luxury players. … and you have this lineup of amazing retailers that have great brands and a great value proposition. We want to position ourselves as a sister to those brands, but the pre-owned offering or the pre-owned version of that.”
International expansion continues with recent acquisitions of Montreal-based Two Authenticators Inc. and LXRandCo, strengthening its B2B wholesale capabilities. Ben Hemminger, co-founder and CEO of FASHIONPHILE, said, “We continue to be excited about the opportunity to diversify our omnichannel operations and enter the secondhand wholesale market in the U.S. and internationally. By acquiring 2a and adding Fred Mannella to our team as one of the world’s leading luxury vintage experts, we are well-positioned to enter this new phase of growth as we look to provide trusted, authenticated, branded accessories to all sectors of the growing market for secondhand luxury.”
Looking Ahead
As FASHIONPHILE celebrates its 25th anniversary, the company is poised for further growth in 2025, with plans to deepen relationships and expand its presence in the US, Europe, and the Middle East.
The success of the luxury resale platform is a clear sign of the growing consumer shift toward sustainable fashion choices and circular consumption models. By keeping ultra-luxury items in circulation longer, FASHIONPHILE is not just building a profitable business; in fact, it is advancing a more sustainable approach to fashion that benefits both consumers and the planet.
For fashion enthusiasts eager to join this circular revolution, FASHIONPHILE offers an accessible entry point into the world of luxury accessories, proving that sustainability and style can go hand in hand.
