Canadian luxury consignment store celebrates 10 years

Article content

Ten years ago, Dia Capello founded Valamode after reading about the rising investment value of luxury fashion items.

Article content

Select pieces from brands such as Rolex, Hermès and Goyard, insiders say, can be a better investment than gold. Fashionable forecasts like these, along with a growing interest in sustainable shopping options, has led to a surge in second-hand luxury shopping with revenue expected to top US$14 billion by 2027.

Article content

Valamode is one of a growing number of Canadian boutiques specializing in the stylish secondhand sale of luxury pieces. We caught up with Capello to learn more:

Q: For those who aren’t familiar, what is Valamode?

A: Valamode is an online luxury consignment company with a showroom located in Ottawa. Since 2014, our focus has been primarily on pre-owned handbags and accessories. We are proud to be the capital’s leading luxury store.

Article content

Q: How did you get into the resale industry?

A: Over a decade ago, I read an article about specific brands both retaining more value than gold and outperforming the S&P 500. This immediately piqued my interest. And, upon further research and reflection, I knew I had to work my way toward quitting my nine-to-five job and going all-in on the resale industry. With the world needing to become more circular, I knew this opportunity would only grow.

Q: The luxury resale industry appears to be booming. What’s driving this?

A: The most savvy way to shop has finally caught on. It is very economical to shop consignment. What better way to contribute to the universe, knowing that you can consign your items to create a more sustainable and circular world then by recycling your money into something new or by going on the hunt for the perfect vintage bag.

Article content

Q: Are there any misconceptions around shopping luxury secondhand that you encounter?

A: At times there could be misconception about items being too used, which makes one hesitant to invest in consignment. Or perhaps assuming the item’s not authentic. As a resale business, it’s our responsibility to: take the best of the best products; refer items to charities where appropriate and; screen items and partner with companies like Entrupy to use AI for additional authentication.

Q: In your experience, which luxury pieces hold the best value — and why?

A: Hermes, Goyard and Chanel. These brands have incredible value retention by continuously dominating an exclusive market. They design timeless pieces that will never go out of style. The quality and design of these pieces ensure that they can be used for decades when well cared for.

Article content

Q: Lastly, where can people learn more about Valamode?

A: Our website Valamode.com and Instagram @Luxuryconsignmentcanada.

Aharris@postmedia.com

Bookmark our website and support our journalism: Don’t miss the news you need to know — add VancouverSun.com and TheProvince.com to your bookmarks and sign up for our newsletters here.

You can also support our journalism by becoming a digital subscriber: For just $14 a month, you can get unlimited access to The Vancouver Sun, The Province, National Post and 13 other Canadian news sites. Support us by subscribing today: The Vancouver Sun | The Province.

Article content