We all have our unique connections to fashion, but for some, luxury bags are more than just accessories—they’re investments. Kimaya Banga, 34, embodies this mindset. Although she doesn’t have children, she affectionately refers to her luxury bags, like Hermés Kelly and Chanel Flap, as her “babies.” Banga’s passion began eight years ago in London when she discovered a vintage Fendi Baguette on Vestiaire Collective. Since then, she’s bought and sold an estimated 50 to 80 pieces, transitioning seamlessly between collector and trader.
A booming market
The luxury resale market in India, once niche, is now booming, projected to reach ₹1,556 million by 2032. While global platforms like The RealReal operate here, homegrown players like Confidential Couture and My Almari have captured local attention. Banga quickly adapted, scoring a prized Goyard tote—a rare find in India—through My Almari shortly after its launch.
For Banga, the allure is fluidity; she curates her collection, holding onto bags for a few seasons before reselling them. “Trends change every three or four years,” she says. “If I haven’t used something for six to nine months, I sell it.” This mentality echoes a wider trend highlighted by The RealReal’s 2024 Luxury Resale Report, which found young women increasingly treating their wardrobes like revolving investments. Gen Z, in particular, has ramped up resales by 52%, drawn to the cycle of acquiring, using, and replacing items.
Mumbai-based fashion student Tanisha Arora relates, calling her designer pieces “emotional connections.” Yet platforms like My Almari allow her to quickly adapt when trends change, such as when she resold a Jacquemus Chiquito after the mini-bag craze passed.
Investment strategy is key
Finance professional Nimisha Behl takes a calculated approach, viewing bags as part of an investment portfolio. She tracks market values, advising friends on purchases that may appreciate over time. While Behl hesitates to part with sentimental items like her Saint Laurent Loulou, she embraces the financial upside. Price hikes by luxury brands further benefit sellers, as exemplified by Banga’s Chanel Flap, bought for two lakhs and now worth nearly five.
With trusted platforms facilitating smooth, authentic transactions, the luxury resale market in India thrives, rewarding both impulsive trend-followers and strategic investors alike.
