Issue 04: Don’t Lose It, Reuse It!
Don’t Lose It, Reuse It!
The fashion industry has taken a big hit in the wake of the recent pandemic, independent brands are shutting their doors and other large retailers are filing for bankruptcy. Yet amid these tough times, a treasure keeps rising to the top. Consignment stores are now a multi-billion-dollar business, from used clothing, shoes, handbags, jewellery, vintage goodies, furniture, antiques, clothing rentals as well as online charity shops. Everyone is searching for that reasonably priced piece of clothing or rare find among an easily accessible range of styles and different brands. Fashionistas are now using their creative approach towards shopping consignment.
Greene Street is one of those special gems, this happening business has been around for 26 years. Greene Street currently has 8 locations, some are town retail and others are shopping centers in Pennsylvania and New Jersey. One can find many different brands and high-end labels in these fabulous consignment boutiques. The owner Lynne Mastrilli is a leggings, tee, and sneaks kinda gal with a big heart. She loves making people happy and helping them find wonderful treasures in her stores for great prices.
The beginning of Lynne’s wonderful story started with her family. Her parents and sister had a passion for yard sales, and they decided to turn it into a business. They opened up a store in the early 90’s, with no retail experience, and named it, Renaissance Consignment.
“So basically-they went to yard sales and unloaded their treasures into the store-as well as consigning clothes. In a way my parents were real pioneers in the whole recycling and repurposing way of thinking. Many of our family members were sort of scratching their heads-but my dad and mom really believed in it and they were very successful in that location.”
Lynne helped them out for a while but decided to continue on with her own journey and moved to New York. She had various pushcarts, selling all sorts of merchandise from tie dye clothing to Mexican blankets. When Lynne and her partner Mark began manufacturing women’s clothing, they went from pushcarts to mall stores. Sadly, Lynne’s parents passed away and she had to return home to take care of the details surrounding the estate. “I looked at their business model and thought wow… this really was a great idea. Of course, my vision was to execute it in a very different way-but the roots of their dream remain in mine.”
I asked Lynne to do a quick commercial about her business, “That is easy! There are so many reasons to shop at Greene Street. You can make money from your gently used clothing as well as find treasures at a fraction of the price of mainstream retail, in a surprisingly lovely setting for second hand or any store. All of this while not negatively impacting the planet-which now sadly, should be paramount in the minds of everyone in the world.”
Greene Street is promoted on social media and word of mouth. They find it difficult to navigate the ever-changing media-radio, tv and streaming services. “We do not have the analytics to determine exactly what our customer base does and for me privacy of course is an issue. So, we really do rely on trying to do the best job that we can from top to bottom and hope that it resonates with our customers,” says Mastrilli.
Lynne learnt a lot of lessons about the retail industry, she believes that you must be extremely flexible and not give up, even if you make mistakes, as they have made many costly miscalculations in the past. “I always say if you can run a multi store consignment chain you can do almost anything. There are just so many facets of it – from HR, to retail, to design, to repairs, to stock, to management. It is quite the ride!”
Kimberly is interviewing Lynne.
Lynne, how do consignment stores work?
“Very simply, the public brings us their gently used on trend clothing. We price it and put it onto the sales floor. Computer software tracks the sales of the items-and at the end of the term (45 days) the customer is paid a commission based on the selling cost.”
If we want to reach out to you with some of our clothes, how does that process work?
“It is quite easy but with the pandemic, we do now require an appointment to consign. Really it is all done though our website – GreeneStreet.com.”
Sustainability is very important to Lynne; she believes that a peaceful and harmonious world occupied by kind people as well as balance to nature is what brings true happiness. “We are destroying our planet with endless consumption-with the goal of trying to gain happiness from things. Things do not make us happy, so basically – sustainability is everything and really the only thing for the future.”
Lynne, is there still a future for fast fashion brands?
“I think in America we have the luxury at this moment in time, to choose and choose wisely and be mindful of the sourcing of all goods that we purchase. But in some places, that is more difficult, so I think that the trend is beginning for sure. But it might be a while. As with everything, the demand dictates the supply. People have to stop buying these things and then they will stop being produced.”
Have you seen any significant changes in the clothing industry?
As I stated earlier about the early days with my parent’s business; many people were, for lack of a better phrase, grossed out by used clothing. That stigma seems to have passed and now used items have become very mainstream and huge in some cases.
Lynne, what are your long-term goals with your consignment stores, Greene Street?
“This is tricky as I used to set very definitive goals as I know that is the proper way of doing business. But now I am in more of a flow state with the company. At the end of the day, we are still trying to do our very best in every facet of the business and once we feel stable then, and only then, do we consider growth. So, I do not go as fast as I once did. I like to consider the course. So, we may have 8 stores and we may have 8000. Check back!”
Do you have any words of wisdom that you would give to a new shop owner?
“I would always say to go for it! No one can really prepare you for anything, either you are the type that takes a shot or not. If that is your desire by all means, go for it, but choose great people who are grounded to be part of your team, and be prepared to be very flexible. Do not fix on something, ride with the changes and adapt as needed.”
Lynne, how do we find out about your stores? Are you on social media?
“Yes, our website GreeneStreet.com and on Instagram @shopgreenestreet.”
