Sign of the Times Expands Further, Buys the Assets of PapillonKia
LONDON — London resale platform Sign of the Times has been growing at warp speed following investment earlier this year from BrandAlley and private individuals.
The reseller said this week it has purchased the assets from PapillonKia, a designer preloved accessories marketplace, which closed its doors over the summer.
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Sign of the Times confirmed last month the purchase of Cudoni’s assets after that company went into administration earlier this year.
Sign of the Times said the two acquisitions combined will grow its customer database by 40 percent, making it a leader in the U.K. resale space.
Even before those acquisitions, Sign of the Times said it had grown by 300 percent over the last three years.
As reported, the platform secured investment earlier this year from BrandAlley, Tamara Hill-Norton of Sweaty Betty and Sarah Welsh, chief executive officer of Retail for N Brown plc.
Antonia Johnstone, owner and chief executive officer of Sign of the Times, said her company has merged a total of four resale businesses in the last four years, making it “one of the U.K.’s leading pre-loved businesses. We are looking forward to welcoming PapillonKia’s customers to Sign of the Times.”
Sign of the Times specializes in pre-loved designer goods from brands such as Chanel, Prada, Gucci and Hermés. It does daily drops on the brand’s website at 10 a.m., and currently has 5,000 items online and 2,000 pieces in-store in London.
The brand first opened in 1976 on Chelsea Green, reselling the designer items owned by the celebrities of the day.
The shop in London’s Chelsea remains, although the brand now sells globally online.
As reported, Johnstone said she was planning to use the investment from BrandAlley to refurbish Sign of the Times’ Chelsea store and enhance the platform’s technology. Earlier this year, she said she was “open to further acquisitions.”
Asked about the challenges of the luxury resale business, Johnstone said they include balancing “the sell-side and the buy-side; managing the constant flow of stock into the store, and customer acquisition.”
Sign of the Times also provides BrandAlley with a white label “take back” service, part of the latter’s efforts to embed circularity within the business.
Johnstone believes that what sets Sign of the Times apart from its competitors is the buying and selling experience.
On the site, clothing is shown on live models. Depending on the price point, some of the items even come with their own video so that potential buyers can see how the clothes fit and move.
Sign of the Times also offers same-day collection and delivery in London. Johnstone said her aim is to make the process as easy as possible for buyers, sellers and businesses alike.
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