Launched yesterday, online retailer 20ltd sells no more than 20 items at a time, each of which are highly exclusive and only available in small numbers. Goods currently on offer range from GBP 2,900 white buffalo horn sunglasses (edition of 10), to a GBP 9,000 hammock covered in cashmere and black fox fur (thankfully for black foxes, only 5 of those were made). All items are exclusive to 20ltd, and not sold anywhere else. As soon as a product is sold out, it’s replaced by a new object of desire.
The British retailer is backed by private investment, and will operate solely online. Calling itself an “etailer of authentic, ingenious, beautiful and unexpected things,” 20ltd hopes to reach a global audience, including rapidly growing luxury markets like Russia, China and the Middle East. The website is currently available in English, Italian, Russian, Chinese and Japanese.
The underlying trend and opportunities for other entrepreneurs? As regular luxury goods become available to ever more consumers across the world, luxury manufacturers and retailers are turning to ‘planned scarcity’ to attract status-hungry buyers who desperately crave the exclusivity that money used to be able to buy. 20ltd combines planned scarcity with niche curation: the polar opposite of Amazon.com, which offers everything for everybody, 20ltd narrows it down to a limited selection of limited edition goods for a limited group of very affluent consumers.
Article courtesy of Springwise