Perfect Moment Expands Successful U.S. Reflaunt Resale Program to UK, France, Italy and Germany

Rhea-AI Summary

Perfect Moment (NYSE American: PMNT) has expanded its U.S. resale program, Perfect Second Moment, to the UK, France, Italy, and Germany. This global expansion extends the life of Perfect Moment's high-performance luxury skiwear and lifestyle apparel while advancing the company's commitment to sustainability and circular fashion.

The program, powered by Reflaunt's technology, allows customers to return worn Perfect Moment items in exchange for vouchers for future purchases. It aims to decrease waste, provide a more sustainable future, and reward customer loyalty. The expansion addresses the growing global secondhand market, projected to reach $350 billion by 2028 and comprise 10% of the fashion market worldwide by 2025.

Perfect Second Moment aligns with circular fashion principles, helping to reduce textile waste, one of the world's fastest-growing waste streams. The program offers a convenient solution for customers to recoup some of their investment in high-quality Perfect Moment products.

Positive

• Expansion of resale program to UK, France, Italy, and Germany
• Alignment with growing global secondhand market, projected to reach $350 billion by 2028
• Promotion of sustainability and circular fashion principles
• Customer loyalty rewards through vouchers for future purchases

Negative

• None.

Insights

Sustainability Expert

The expansion of Perfect Moment's resale program, Perfect Second Moment, to European markets is a strategic move that aligns with growing consumer demand for sustainable fashion options. This initiative addresses several key industry trends:

• Circular fashion: By extending product lifecycles, Perfect Moment is reducing textile waste and promoting a closed-loop system.
• Customer loyalty: Offering credits for future purchases incentivizes repeat business and brand loyalty.
• Market growth: Tapping into the rapidly expanding secondhand market, projected to reach $350 billion by 2028.

While this program demonstrates Perfect Moment's commitment to sustainability, its direct financial impact may be in the short term. However, it positions the brand favorably in the growing eco-conscious luxury segment, potentially driving long-term customer acquisition and retention. The success of this initiative will depend on customer adoption rates and the program's operational efficiency.

Luxury Retail Analyst

Perfect Moment's expansion of its resale program is a savvy move in the luxury skiwear market. Here's why it's significant:

• Brand positioning: It reinforces Perfect Moment's image as a high-quality, durable brand, justifying premium pricing.
• Customer lifetime value: The program encourages customers to stay within the Perfect Moment ecosystem, potentially increasing their lifetime value.
• Market differentiation: In the competitive luxury skiwear segment, this initiative sets Perfect Moment apart from competitors.

However, the financial impact on Perfect Moment's bottom line may be gradual. The program's success will hinge on factors like the resale value retention of their products and the rate at which customers utilize the service. While it's a positive step for brand perception and customer engagement, investors should monitor how this translates to revenue growth and profitability in the coming quarters.

• Global resale program extends the life of Perfect Moment’s high-performance luxury skiwear and lifestyle apparel while advancing the company’s commitment to sustainability and circular fashion.
• Expanded resale program provides a convenient way for more customers to turn their high-quality Perfect Moment items into credits for future purchases.

LONDON--(BUSINESS WIRE)-- Perfect Moment Ltd. (NYSE American: PMNT), the high-performance, luxury skiwear and lifestyle brand that fuses technical excellence with fashion-led designs, has expanded the availability of its U.S. resale program, Perfect Second Moment, to the UK, Italy, Germany and France.

The resale program extends the life of Perfect Moment’s high-quality luxury products while underscoring the company’s commitment to durability, quality and performance.

“This global expansion represents another important milestone in the evolution of Perfect Second Moment, where we now provide on a greater scale a simple and efficient solution to decreasing waste and providing for a more sustainable future,” said Perfect Moment CEO, Mark Buckley. “It also rewards our Perfect Moment customers for their loyalty and shared commitment to the environment by subsidizing the cost of their next Perfect Moment purchase.”

In May, the company launched Perfect Second Moment in the U.S. in partnership with Reflaunt. Reflaunt’s technology powers the Perfect Second Moment website, which facilitates the customer's return of worn Perfect Moment skiwear and accessories in exchange for vouchers that can be used for future purchases.

The program eliminates the time and hassle of reselling a valuable Perfect Moment item or experiencing a loss of value by letting it go to waste in the closet.

“We are thrilled to expand our partnership with Reflaunt for this important resale program,” said Jane Gottschalk, founder of Perfect Moment. “Our customers invest in our products for their quality and durability, so we want to make it easy for them to recoup some of this investment for their next purchase. This program is a natural extension of our commitment to sustainability and circular fashion.”

Circular fashion is an approach within the fashion industry that aims to create a closed-loop system, reducing waste and maximizing the lifespan of clothing and textiles. It aligns with the principles of the Circular Economy by rethinking how garments are designed, produced, used, and disposed.

Perfect Second Moment helps address textile waste as one of the world’s fastest-growing waste streams. More than 100 billion new garments are produced every year, according to a McKinsey report on Fast Fashion, adding to the waste stream.

“We are excited to partner with Perfect Moment and provide their customers with a seamless way to buy and sell their skiwear,” said Stephanie Crespin, founder and CEO of Reflaunt. “It is important to facilitate circular habits and ensure these high-quality items are taken care of—which is why we open to the UK and European markets today.”

The Perfect Second Moment program addresses the growing global secondhand market that is projected to grow at a 11.1% CAGR to reach $350 billion by 2028, according to the Resale Report. The report forecasts the secondhand market to comprise 10% of the fashion market worldwide by 2025.

More information about Perfect Second Moment is available here.

About Reflaunt

Reflaunt is a resale technology provider that enables fashion brands to offer their customers a resale service directly on their ecommerce. Brands and retailers rely on Reflaunt’s global operations and resale infrastructure to take back their customers’ luxury wardrobe, inspect and value every item, have it sold again, and boost customer loyalty via shopping credits rewards. For more information visit, reflaunt.com.

About Perfect Moment

Founded in 1984 in the mountains of Chamonix, Perfect Moment is a high-performance luxury skiwear and lifestyle brand. It blends technical excellence with fashion-forward designs, creating pieces that effortlessly transition from the slopes to the city, the beach, and beyond.

Initially the vision of extreme sports filmmaker and professional skier Thierry Donard, the brand was built on a sense of adventure that has sustained for over 20 years. Donard, fueled by his personal experiences, was driven by a desire to create pieces that offered quality, style and performance, pushing the wearer in the pursuit of every athlete’s dream: to experience ‘The Perfect Moment.’

In 2010, British-Swiss entrepreneurial couple Jane and Max Gottschalk took ownership of the brand. Under Jane’s creative direction Perfect Moment was injected with a new style focus, one that reignited the spirit of the heritage brand, along with a commitment to improving fit, performance and the use of best-in-class functional materials. As such, the designs evolved into the distinct statement pieces synonymous with the brand as we know it today.

Today, the brand is available globally, online and via key retailers, including MyTheresa, Net-a-Porter, Harrods, Selfridges, Saks, Bergdorf Goodman and Neiman Marcus.

Learn more at www.perfectmoment.com.

Important Cautions Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ from those contained in the forward-looking statements, include those risks and uncertainties described more fully in the section titled “Risk Factors” in the final prospectus for our initial public offering and in our Form 10-K for the fiscal year ended March 31, 2024, filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release are made as of this date and are based on information currently available to us. We undertake no duty to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241010433933/en/

Company Contact

Jeff Clayborne, CFO

Perfect Moment

Tel +44 (0)204 558 8849

Email contact

Investor Contact

Ronald Both or Grant Stude

CMA Investor Relations

Tel (949) 432-7566

Email contact

Source: Perfect Moment Ltd.

FAQ

What is Perfect Moment's stock symbol?

Perfect Moment 's stock symbol is PMNT, traded on the NYSE American exchange.

Which countries are included in Perfect Moment's expanded resale program?

Perfect Moment has expanded its resale program, Perfect Second Moment, to the UK, France, Italy, and Germany, in addition to the existing U.S. program.

How does the Perfect Second Moment resale program work?

Customers can return worn Perfect Moment skiwear and accessories through the Perfect Second Moment website in exchange for vouchers that can be used for future purchases.

Who is Perfect Moment's technology partner for the resale program?

Perfect Moment has partnered with Reflaunt to power the technology behind the Perfect Second Moment resale program.