Dee on Facebook recently asked me a great question about wholesale designer handbags:
“Dear Andrew, I’m from India and I wish to open a retail store of handbags from Italy. Can you help me? I wish to know how I can source them from wholesalers. Also, what are the wholesale markets there? Plus, good dresses and garments. I wish to cater good quality, high-end stuff. I have no clue. Can you please put light? Regards and love, Dee.
I think you’ve got a good idea here, Dee – Italy’s a great place to start for designer items.
You’re going to need a pretty sizable amount of money in your buying budget. A lot of people think they’ll find remarkable deals by buying wholesale, but that simply doesn’t happen. Unless the stock you’re buying is being liquidated by the container, you’re not going to save that much money by buying wholesale. But, there’s still a profit to be made, so it’s not that it’s not worth it. You’ll need a reasonable amount of items in your store, and if those items are designer handbags and clothing, it might get expensive to stock up.
You’ll probably need to get this money together by yourself, but if you’re an established retailer, you’ll have other options. Specific websites help finance eBay and Amazon sellers by short-term loans so they can order a good amount of stock for their store. If you can prove that you’re able to sell, they’ll most likely help you out, but that’s a different subject for a different video.
Another thing worth mentioning – shipping costs from Italy to India are probably going to be high, which is another reason to look at buying wholesale. Get as much in as possible on one order to save yourself repeat shipping costs. High shipping costs eat into your profit margins, so if there’s a way you can cut down on them, I’d wholeheartedly advise doing so.
Get a recommendation for a supplier. When you’re spending this kind of money to stock your store, you have to be 100% sure you’re getting your goods from a reliable source. I always try to look for personal recommendations. If I find a supplier on my own, I speak to them before I order. I get the contact details of some of their customers, so I can personally talk to them about the supplier. Some of these scammers have extremely professional sites, but they’re not always legitimate. You might get fake merchandise, or you might not get any merchandise at all.
Finally, you’ve got a few options for stocking your store. One man is called Victor Barris, who has a membership site that specializes in the supply of designer handbags from Italian wholesale sellers. You have to be careful when buying wholesale contact information – a lot of them are banned from eBay for selling outdated links or false information. Getting proven, real information for a price pays for itself in the end. There’s a link in the YouTube description box that will take you to a great website for such a thing. Another option is the gold upgrade in the Wholesale Help member’s club. There, you get access to suppliers that I personally use for my own business. Also, check out the Wholesale Forums, which are free. It’s mainly European suppliers, and there’s a buying and selling section there as well. There are routine checks on these suppliers, but still, do the checks and make sure the person you’re dealing with will give you good service.
Check out more information in the video below!