FACT SHEET
| COMPANY | Shop Worn, Inc DBA ShopWorn.com, ShopWorn |
| WEBSITE | http://www.shopworn.com |
| HEADQUARTERS | 100 Union Ave Suite 140B Cresskill NJ 07626 |
| TELEPHONE | (201) 399-7339 |
| BUSINESS ENTITY | Privately Owned |
| LEADERSHIP | Larry Birnbaum, CEO |
| TEAM | An operational team working within the New Jersey headquarters along with a global team of buyers operating from Cyprus, France, Greece, Hong Kong, Italy, Japan, Singapore, Spain, Switzerland and Turkey |
| FOUNDED | October 15, 2015 by Larry Birnbaum. |
| ABOUT | ShopWorn is a shopping destination for customers who want to be the first to own authentic, unused luxury products but don’t want to pay luxury prices. Founded in 2015 by Larry Birnbaum, ShopWorn was created to help brands and retailers solve the problem of what to do with unsold inventory. Because of ShopWorn’s unique sourcing strategy of obtaining products directly from authorized retailers and brands, every item sold on ShopWorn is guaranteed to be 100% authentic and never previously owned.
It’s not new. It’s not pre-owned. It’s ShopWorn. Be the first. |
| PRODUCTS | Swiss watches, fine jewelry, fine writing instruments, handbags, wallets and other leather goods, cufflinks, ties and other accessories |
| CUSTOMER REVIEWS | Trust Pilot – 5 Stars |
| AVAILABLE BRANDS | Alpina Ball Balmain Baume & Mercier Bell & Ross Bomberg Bottega Veneta Boucheron Breguet Breitling Bremont Bucherer Jewelry Bvlgari Carl F. Bucherer Certina Chopard Corum Crivelli Cuervo Y Sobrinos Dewitt Dior Dunhill Ebel |
Eberhard & Co. Ferragamo Giantti By Stefan Hafner Giovanni Ferraris Girard Perregaux Graham Gucci Gurhan H. Moser & Cie Hamilton Harry Winston Hayward Ippolita Jaquet Droz John Hardy Lancel Leandri Lulu Frost Luminox Marco Bicego Meistersinger Michel Jordi |
Mido Mimi Milano Montblanc Montegrappa Nouvelle Bague Pasquale Bruni Perrelet Piero Milano Pomellato Rado Roberto Coin S.T. Dupont Saint Laurent Shinola Stephen Webster Swarovski Terra Cielo Mare Tissot U-Boat Versace Victor Mayer |
COMPANY PROFILE
ShopWorn is an ecommerce platform offering authentic, unused, unworn luxury products secured directly from authorized retailers and brands to customers at a fraction of the retail price.
When brands and retailers have unsold inventory, they contact the ShopWorn team to hand over hundreds of jewelry, watches, and luxury accessories that have never found a permanent home. This has kept brands from having to destroy merchandise while allowing authorized retailers to replenish their inventory with the latest styles.
The ShopWorn team meticulously inspects every item, accepting only high-quality products with minimal blemishes. These blemishes are what makes the products “shop worn” as they’re the result of being handled in a store — or shop — environment. “Pre-owned” means the item is used because it’s left the store with a customer. “Shopworn” means the item has never left the store. Customers who buy from ShopWorn are the first customers to own the item.
Since ShopWorn only works with authorized retailers or directly with brands, every ShopWorn product is guaranteed to be 100% authentic. A ShopWorn customer need never wonder if a watch has been refurbished using unauthorized parts or if their handbag is a knockoff. The direct relationship between ShopWorn, brands and authorized dealers alleviates any question of authenticity.
And because customers should be able to trust what they see and buy online is what they receive, all ShopWorn product images are from an in-house photographer. Stock images are never used. Items featured on the ShopWorn site are always in stock and ready to ship.
ShopWorn is a shopping destination for customers who want to be the first to own authentic, unused luxury products but don’t want to pay luxury prices.
It’s not new. It’s not pre-owned. It’s ShopWorn. Be the first.
BACKGROUNDER
ShopWorn originated as a retail industry necessity.
Luxury brands and authorized retailers were struggling with the question of what to do with their inventory of unsold merchandise. Deeply discounting new items to encourage sales would hurt the luxury brand image, yet authorized retailers were stuck with old products their customers just didn’t want. As long as retailers had merchandise they couldn’t sell, they weren’t able to stock the newer collections their customers preferred.
And while many luxury brands often buy back unsold products from authorized retailers, the question remained the same for the brands. Destroying these items is wasteful and harmful to the environment.
Larry Birnbaum, veteran of the retail industry, explored this question with a luxury brand executive one night. He soon realized he could solve this industry problem by sourcing unsold watches, jewelry and other accessories from brands and retailers and sell them directly to consumers online at a fraction of the original price. The merchandise would never be considered new, yet they also weren’t pre-owned since no consumer had ever actually owned them.
“Shop worn” is a retail industry term used to define products showcased in store displays and windows. They’ve only been handled by staff and tried on by customers but have never left the store. Some have never left the store vault. The “worn” part of “shop worn” refers to minor cosmetic or surface wear naturally occurring while being handled.
Birnbaum trademarked the name “ShopWorn,” launching a revolutionary new concept to reshape the retail industry. By sourcing unsold merchandise from brands and authorized retailers, ShopWorn has made it easier for retailers to exchange products their customers don’t want to stock those they do. This is helping luxury brands protect their image without having to destroy unsold merchandise.
ShopWorn has become a supportive partner to brands and authorized retailers while becoming a shopping destination for customers who want to be the first to own authentic, unused luxury products but don’t want to pay luxury prices.
PRODUCTS
ShopWorn has a global team of buyers who work directly with brands and authorized retailers worldwide to find homes for unsold products from past seasons. This relationship has been beneficial to not just brands and authorized retailers, but also ShopWorn customers who can now buy luxury items at accessible prices.
ShopWorn buyers in Cyprus, France, Greece, Hong Kong, Italy, Japan, Singapore, Spain, Switzerland and Turkey visit brands and authorized retailers to hand-select quality jewelry, watches, writing instruments, handbags, wallets and other leather goods, cufflinks, ties and other accessories meeting ShopWorn’s exacting standards. Not every item passes this first test. The ones that do are sent to ShopWorn’s New Jersey headquarters.
At headquarters, these items endure another round of quality control to identify any major defects. Products passing this round are then handed over to the in-house photographer, who takes pictures of every item featured on the site. If any scratches are discovered while under the camera’s lens, the item won’t make it onto the site.
Products passing these three levels of quality control are then sent to the ecommerce team, where attractive prices well-below the original retail price are set. Items are then made available online for ShopWorn customers who love luxury items but don’t want to pay premium prices.
For luxury watches, ShopWorn provides an in-house warranty that matches the manufacturer warranty detail for detail. If a watch is found defective, customers can send it back to ShopWorn to be serviced directly by a manufacturer authorized repair center.
All other products are guaranteed by a generous 14-day return policy. ShopWorn accepts returns of all unused, unworn products with their original packaging within that time.
SWISS WATCHES
FINE JEWELERY
WRITING INSTRUMENTS
HANDBAGS & OTHER LEATHER GOODS
CUSTOMER SERVICE
While every company says their customers are the most important part of their business, ShopWorn lives this philosophy every day through their impeccable customer interactions. A quick glance at ShopWorn’s Trustpilot reviews makes this self-evident.
ShopWorn provides a trustworthy platform where customers can be assured what they’re buying is not only authentic but has never been pre-owned and is immediately available to ship from the New Jersey headquarters. And because ShopWorn takes photos of every item on the site, customers know their purchase will look exactly like the online picture when it arrives.
ShopWorn customers are treated with a white glove service that emulates online the in-store luxury experience. If a customer has questions about a product, they can call the company and immediately speak to a knowledgeable team member happy to discuss the product in detail — or anything else the customer has in mind. ShopWorn has loyal customers who call just to share the joy an earlier purchase has brought to themselves or a loved one.
When a purchase is made, the product goes out immediately with free shipping. Customers have 14 days to decide on their new purchase, and if not, can return the unused, unworn items with their original packaging within this period for a full refund. And at any time within two years of a watch purchase, if something unexpected happens, ShopWorn’s in-house warranty matches detail for detail the manufacturer warranty. ShopWorn will have the watch serviced by a manufacturer authorized service center.
Along with the engaged customer service team, ShopWorn CEO, Larry Birnbaum, is known to contact customers directly if they’re unhappy with a purchase. And even if a customer is happy, Birnbaum will call anyway to thank them for giving an excellent rating on Trustpilot.
This is what customer service means to Shopworn.
PRESS RELEASES & STORY ANGLES
ShopWorn Announces Partnership with Graham Watches
Swiss watch brand Graham will use the re-commerce platform as a guarantor to its retail partners in a win-win-win alternative to consignment.
17 NOVEMBER 2020, CRESSKILL, NJ: Luxury re-commerce platform ShopWorn announces a new program with Graham Watches to support the premium Anglo-Swiss heritage brand’s relationships with retail partners. Through the ShopWorn BuyBack Partnership Program, Graham can assure retailers whatever products don’t sell after some time will be bought by ShopWorn. Retailers will no longer be left with past season’s Graham watches and can better experiment with different product assortments without risk. In a first for the Swiss watch secondary market, ShopWorn is now the only platform officially sanctioned with exclusive rights to sell the watch brand’s aged inventory.
“ShopWorn is a key contributor to the economic development of luxury watchmaking in the USA,” said Eric Loth, Founder of Graham Watches. “Building a trustworthy digital platform and collaborating with them to create a win-win-win situation helps the brand and retailers to keep the market clean and supply at optimal cost. Effectively keeping the market à jour and offering the brand added value for their clients, Shopworn points out the need to transform the business of luxury goods.”
The ShopWorn BuyBack Partnership illustrates ShopWorn’s growing position as the natural evolution of the luxury retail cycle. In the traditional model, retailers bought products from luxury brands for resale to their customers, with any unsold inventory creating a financial loss. Brands willing to buy back the unsold merchandise were still left in the untenable position of having excess inventory that could neither be destroyed nor deeply discounted. Through ShopWorn, brands and retailers now have a resource to offload aged inventory, recapture some of their investment and keep the market clear of unauthorized distribution channels.
Patric Zingg, Managing Director of Graham, adds, “The covid-19 pandemic has created challenges for a lot of our retail accounts. But thanks to this partnership, we have been able to work together with our retailers and re-seller to reduce our excess inventory from three years down to one. As we continue working with ShopWorn, we hope to see that number decline further to under six months.”
ShopWorn was launched in 2015 by CEO Larry Birnbaum as an avenue for luxury brands and authorized retailers to recover some of their investments from unsold inventory. Before ShopWorn, aged inventory would either be aggressively discounted, at the sacrifice of the luxury brand image, or destroyed, with environmental repercussions. Partnering with ShopWorn gave brands a valuable third option that preserves the luxury image while upholding a commitment to environmental responsibility and solving the unsold inventory problem.
With a focus on luxury jewelry, watches, fine writing instruments and other accessories, the ShopWorn business model protects brand equity as ShopWorn customers understand the incredible savings they receive comes by virtue of both the “shop worn” nature of the goods and knowledge they’re buying aged inventory.
“We’re honored to have such an esteemed brand as Graham entrust us with the proper distribution of their past seasons’ inventory,” said Birnbaum. “We welcome luxury brands seeking sustainable, cost-saving measures to reduce their unsold stock while partnering with a company that prioritizes transparency, long relationships and above-board dealings. The ShopWorn BuyBack Partnership is open to all who wish to join us as the retail business evolves.”
Luxury E-commerce Startup ShopWorn Enters Asia with Hong Kong Satellite
The fast-growing ecommerce destination for well-priced, guaranteed authentic luxury brands opens a Hong Kong satellite to service the Asia Pacific region.
27 October 2020, CRESSKILL, NJ: The growth of luxury ecommerce site ShopWorn in a changing retail environment has paved way for the five-year-old start up to enter the Asia Pacific region with a new Hong Kong satellite location directly servicing APAC countries, with an initial focus on the Greater China area. The new ShopWorn website features guaranteed authentic shop worn designer luxury brands, curated specifically for the region and at the same low prices that have endeared U.S. customers to the platform. Chinese users can now shop in their own language and receive local customer service. The new site also offers popular payment methods as UnionPay, Alipay and Wechat Pay, and competitively priced direct shipping to major Asian cities by SF Express.
Additionally, ShopWorn has opened a flagship store on TMall Global, Alibaba’s dedicated platform for 800 million of China’s high-end consumers, in advance of 11.11 or China’s Singles Day. Through ShopWorn’s TMall flagship, Asian customers will be able to treat themselves to their favorite luxury brands at considerable savings than ever before.
“Over the past year, we’ve seen increasing traffic from Asian consumers ready to buy our ‘shop worn’ luxury designer products,” said Larry Birnbaum, ShopWorn CEO. “As the Asia market continues to lead the way for the luxury goods industry — with online retail sales in China alone surpassing $1.5 trillion — it only made sense for us to have a presence in Hong Kong. With our launch coinciding with China’s Singles Day, we’re excited about what the future holds for ShopWorn Asia and how we can deliver to China’s discerning luxury shoppers the same customer experience our U.S. customers have come to appreciate.”
Birnbaum developed ShopWorn in 2015 for consumers growing weary of buying online pre-owned luxury items without unimpeachable knowledge of the product’s origins or authenticity. It has since become the premiere destination for customers who want to be the first to own authentic, unused luxury watches, jewelry, writing instruments, leather goods and other accessories without paying premium prices. Because ShopWorn sources all products directly from brands or authorized retailers, every product is guaranteed to be 100% authentic, even at prices 50 to 80 percent off the original retail.
The platform’s prices reflect the shop worn nature of its products — an industry term long used to describe merchandise with past lives in store displays, gently handled by staff but never consumer owned. This subtle distinction prevents ShopWorn merchandise from being labeled new, yet because the items have never been consumer-owned, they are also not considered pre-owned. The direct relationship between ShopWorn, brands and authorized dealers alleviates all questions of origin and eliminates need for “authenticators.”
This business model has proven effective as growing consumer demand for guaranteed authentic luxury products at accessible prices, combined with commitments from luxury brands to find sustainable avenues for unsold inventory, has increased ShopWorn’s demand. With Chinese consumers spending $115 billion on luxury items in 2019, opening a ShopWorn Asia satellite was a natural next step.
While the ShopWorn Asia satellite is the first international expansion, the company has plans to open additional locations in Europe and other markets within the next five years. Also being planned are flagships stores on other major Asian virtual marketplaces, including Shopee, Lazada, and Global JD.
Download the Complete Press Release || Download Press Release in Chinese
ShopWorn and IW Magazine Team Up to Take Luxury Shoppers “Inside the Vault”
ShopWorn, the luxury ecommerce destination for incredible priced, guaranteed authentic fine watches and other luxury products, and International Watch Magazine, launch, “My ShopWorn Live: Inside the Vault,” a monthly livestream virtual trunk show profiling the site’s most requested brands.
23 JUNE 2020, CRESSKILL, NJ: On Thursday, July 9, 2020 at 6:00PM EST, ShopWorn, the ecommerce site for customers who want to be the first to own guaranteed authentic luxury products without paying luxury prices, and International Watch (iW) Magazine, the definitive authority for watch related matters since 1990, will launch MyShopWorn Live: Inside the Vault. This monthly, livestream virtual trunk show will give insider access to ShopWorn’s collection of fine timepieces, jewelry and other premium accessories as hosts Larry Birnbaum, ShopWorn CEO, and Gary Girdvainis, iW Magazine Editor-in-Chief, go into detail about each item’s unique backstory and brand history. Designed to be interactive and highly educational, viewers will be encouraged to submit questions via chat for Birnbaum and Girdvainis to answer on-air.
Access to the livestream show is by registration only at www.shopwornvault.com. On-demand viewing will be available after the show airs. During registration, viewers can request specific watches or other products available on ShopWorn.com be profiled in the upcoming show.
“Inside the Vault is just another way for ShopWorn to assure our customers the authentic watch and other luxury products they see and buy on our site is exactly what they will receive,” said Birnbaum. “The show allows us to virtually recreate the in-store shopping experience online as our camera person captures every detail of select ShopWorn.com products. We’re excited to be working with Gary Girdvainis, whose incredible encyclopedic knowledge of watches is unparalleled. Viewers will be educated as well as entertained.”
Inside the Vault is yet another guarantee ShopWorn offers consumers who have grown weary of buying online pre-owned luxury items with deceptive pictures and uncertain origins. Launched in 2015, ShopWorn is the premiere destination for customers who want to be the first to own authentic, unused luxury watches, jewelry, writing instruments, leather goods and other accessories without paying premium prices. Because ShopWorn sources all products directly from brands or authorized retailers, every product is guaranteed to be 100% authentic.
ShopWorn’s prices reflect the shop worn nature of its products — an industry term long used to describe merchandise with past lives in store displays and windows, gently handled by staff but never consumer owned. This subtle distinction prevents ShopWorn merchandise from being considered new, yet because the items have never been bought by a consumer, they’re also not pre-owned. The direct relationship between ShopWorn, brands and authorized dealers alleviates all questions of origin and authenticity and eliminates need for “authenticators.” Every ShopWorn customer is the first to own their purchased item.
“Shopworn fills a need within the watch industry by creating an innovative new platform that protects the brand’s image, while offering customers access to watches that may previously have been beyond their budget,” said Girdvainis. “Through Inside the Vault, consumers will also now be able to make educated decisions about their purchases as we share historical details and tell stories about each featured watch.”
My ShopWorn Live: Inside the Vault will livestream on the second Thursday of every month. Registration and special product requests for the next show will open the following Monday. All past shows will be available on-demand on ShopWorn’s YouTube channel.
As Coronavirus Destabilizes Retail, Companies Worldwide Find Support From the ShopWorn Ecommerce Platform
7 APRIL 2020, TENAFLY, NJ: In the wake of the current COVID-19 pandemic, the luxury retail sector faces extraordinary financial uncertainty as the selling environment is compromised by cancelled merchandise orders, closed stores and shelter-in-place mandates across major U.S. cities. Brand and retail partners of ShopWorn, however, have found support in their relationship with the ecommerce platform, whose business model of buying unsold, shop worn luxury goods and selling to consumers online has given aid to companies re-evaluating their 2020 financial projections.
Launched in 2015 as a retail industry necessity, Larry Birnbaum recognized the challenge luxury brands and authorized retailers have long had with the question of what to do with unsold inventory at the end of every season. Discounting would hurt the brand perception, while destroying excess inventory was wasteful and harmful to the environment. He realized he could solve this industry problem by sourcing unsold watches, jewelry, leather goods and other luxury accessories from brands and retailers and sell them directly to consumers online at a fraction of the original price.
The company was named “ShopWorn®” after the retail industry term used to define products showcased in store displays and windows. Shop worn products have only ever been handled by staff or tried on by customers but have never been sold. Some have never left store vaults. The “worn” part of shop worn refers to minor cosmetic or surface wear naturally occurring as the item is handled. Being shop worn prevents the items from being considered new, but since no consumers have ever bought the items, they also can’t be considered pre-owned. This distinction helps define pricing and has made ShopWorn’s relationships with its luxury partners more important than ever during this unprecedented pandemic climate.
“No one could have predicted how COVID-19 would impact the global retail industry,” said Larry Birnbaum, ShopWorn CEO. “In the face of this crisis, we stand by our brand and retail partners during this time. As we source more merchandise from them, we will continue to protect their luxury brand image under the ShopWorn name. Through these valued partner relationships, our customers trust the authenticity of our products and realize their tremendous savings comes exclusively by benefit of being a ShopWorn customer.”
In the five years since launch, ShopWorn has quickly become a shopping destination for customers who want to be the first to own authentic, unused luxury watches, jewelry, leather goods and other accessories without paying premium prices. Because ShopWorn only works with authorized retailers or directly with brands, every product is guaranteed to be 100% authentic. A ShopWorn customer need never worry if a watch has been refurbished using unauthorized parts or if a handbag is fake. The direct relationship between ShopWorn, brands and authorized dealers alleviates any question of authenticity. And because customers should be able to trust what they see and buy online is what they receive, all ShopWorn product images are from an in-house photographer, who takes a picture of every item available on the site.
ShopWorn’s philosophy of transparency with both partners and customers has allowed the company to maintain profitability since launch while enjoying a 30% average year over year increase in sales.
For more information on ShopWorn or to request an interview with ShopWorn CEO, Larry Birnbaum, please contact The Lilian Raji Agency.
SHOPWORN KEY POINTS
ShopWorn doesn’t need authenticators.
ShopWorn knows the chain of custody for all of our products. Because we only deal with authorized retailers or the brands themselves, we can guarantee that every product is in great condition and was never previously owned by a customer. The first true owner of a ShopWorn product is the person that buys it from our site.
ShopWorn is a defense to the retail apocalypse.
ShopWorn brand partners see us as an asset in helping retailers sell more of their products. A retailer may be better able to attract customers by carrying a newer assortment or a different collection altogether. ShopWorn will step in to purchase the non-selling inventory, allowing the retailer cash flow to bring in the pieces their customers prefer.
ShopWorn is an entry point for new luxury buyers.
Millennials and Gen Z love luxury products just as much as the older generation. One look at Instagram confirms this. But these age groups don’t quite have the money of their parents. Through ShopWorn, a $2,000 designer bracelet is now more accessible at $500. Millennials can now start picking up luxury items they’ve always wanted but couldn’t afford. And as their careers grow, and money stops becoming a major consideration, these customers will start looking to buy newer collections directly from the brands. As one of our top priorities is to support our brand partners, we’re happy to have ShopWorn be the conduit for our partners to secure a lifelong customer.
ShopWorn is helping both brands and consumers resolve the challenge of grey market goods.
The grey market is a brand killer. Not only because the low prices of grey goods hurts the luxury perception, but also because customers can never be certain about what they’re buying. When a customer buys a watch obtained through the grey market, that customer can never know if that watch was serviced or refurbished using unauthorized parts or if appropriate actions were taken to maintain the watch’s water resistance. When this Frankenstein watch fails the customer, he may then question the brand’s reputation instead of realizing what a risk he took in buying a grey market watch.
If a customer needs to send the watch in for repair, not realizing the website that offered him such a great deal on a “new” watch has sold him a grey market watch, the manufacturer will not repair it. That great deal is no longer looking so great.
When a customer buys from ShopWorn, however, they are guaranteed their watch is authentic, from crown to caliber. Our knowledge of the providence of all our products assures customers there’s no middleman between us and our sources, whether they’re the manufacturers directly or authorized retailers.
