Boston-based Second Time Around, the country's largest
consignment retailer of designer clothing and accessories, opens its second
store in Port Washington this week, after a successful six months at its first
Long Island location in Huntington.
The chain, which carries new and
"gently worn" merchandise sporting labels from Prada, Gucci and Chanel, has 46
locations nationwide and is expanding in several markets, with additional Long
Island stores envisioned.
"We're in the midst of an aggressive
expansion plan," said Second Time Around CEO Bill Soncini.
Unlike a thrift shop, which usually
peddles donated goods to support charitable causes, a consignment shop takes in
merchandise from individuals who are paid about half of the proceeds if and
when their items are sold.
Second Time Around accepts items that
are "seasonally appropriate" and no older than two years in new or like-new
condition. There is a three-piece minimum to start an account. The chain pays
consignors 40 percent on most clothing and accessories and 50 percent on
designer handbags and furs.
Soncini said the selection turns over
frequently and there is a lot of competitive shopping in the designer
consignment world.
"Everybody's looking for a price," he
said. "You've got to buy it that day or it's gone."
One hot seller in the Huntington store:
slightly-used Hermes Birkin handbags, which are going for $5,000 a pop, versus
an original retail price of $15,000, according to manager Laurie Kerner.
"We are developing a diverse base of
customers and consignors who stop in frequently," Kerner said. "Some women are
seeking $19 finds and some are looking to splurge."
Scott Galin and Darell Handler of
Manhattan-based Handler Real Estate Organization, represented Second Time
Around in the Port Washington lease and acts as its exclusive leasing agent
nationally.
Now a $13 billion industry, consignment
shops are visited each year by almost 15 percent of all Americans, according to
the Association of Resale Professionals.
By comparison, 11.4 percent of Americans shop in factory outlet malls, 19.6
percent in retail apparel stores and 21.3 percent in major department stores.
There are a few individually owned
consignment shops on Long Island, including spots like Kiss Consignment in
Commack, Design Consign Fashions in Smithtown and Purple Consignment in Port
Washington, which is just across the street from Second Time Around's newest
location.
But Soncini welcomes what he calls community,
not competition: The chain has three stores on Boston's tony Newbury Street,
where there are also four other upscale consignment shops.
"It gives us a built-in customer and
provides more opportunity for bargain hunters," he said. "We do very well in
areas with a high concentration of women and walk-in traffic."
Understandably, each store takes on the
personality of the neighborhood, since the merchandise inside comes mostly from
the folks who live there. On New York City's Upper East Side, for example,
Second Time Around shoppers may find labels from Louis Vuitton, but at its
Harvard Square store, the selection may run more toward J. Crew.
Either way, the thirst for high-end
duds on the cheap is growing.
"Our sales are up significantly over
last year," Soncini said.