Covet by Christos: The Rise of Live Luxury Resale Shopping

Table of Contents

1. Key Highlights
2. Introduction
3. The Beginnings of Covet by Christos
4. Pandemic Pivot to Instagram Live
5. The Power of Community: The Stos Squad
6. The Boom of Live Shopping
7. Expanding Horizons: Beyond Instagram
8. Challenges in the Resale Market
9. Looking to the Future: The Netflix of Shopping
10. Conclusion
11. FAQ

Key Highlights

• Christos Garkinos transformed his luxury resale business, Covet by Christos, into a multimillion-dollar enterprise through Instagram Live during the pandemic.
• Garkinos leverages a strong community of loyal customers, affectionately dubbed the "Stos Squad," who actively engage in his shopping shows.
• As live shopping gains momentum in the U.S., industry projections indicate a dramatic increase in sales, suggesting a promising future for this innovative retail model.
• Garkinos' ambition includes launching a platform independent of social media, envisioning the "Netflix of shopping."

Introduction

Did you know that the live shopping market in the United States is poised to surge from a mere $20 billion in 2022 to an impressive $68 billion by 2026? As the landscape of retail continues to evolve, one figure stands out in this booming sector: Christos Garkinos. With his captivating charm and knack for engaging audiences, Garkinos has turned what began as a pandemic pivot into a thriving empire through his Instagram Live show "Covet by Christos." This article delves into the evolution of Garkinos' business, the underlying community that fuels its success, and the implications and future of live shopping in the luxury market.

The Beginnings of Covet by Christos

Christos Garkinos’ journey into the world of luxury resale began long before the pandemic. His affinity for shopping television was evident from a young age, as he recalls shedding tears of joy watching popular vendors sell out their lines on Home Shopping Network (HSN). His professional trajectory has included roles in marketing with renowned companies such as Clorox and Disney, offering him invaluable consumer insights. Additionally, his brief stint as a star on Bravo's "Dukes of Melrose" introduced him to a broader audience, although the show lasted just one season.

The concept of luxury resale was not new to Garkinos, who initially established himself as a prominent figure in the industry with his Los Angeles store, Decades Two. However, it wasn’t until the COVID-19 pandemic disrupted normal shopping habits that he capitalized on a fresh opportunity. With $150,000 in high-end inventory and no storefront to sell, he turned to Instagram Live in March 2020, launching the first episode of Covet by Christos.

Pandemic Pivot to Instagram Live

With global lockdowns forcing consumers to seek new forms of entertainment and engagement, Garkinos’ weekly livestream shopping events quickly grew from a small audience to a significant following. Each show attracts between 500 to 2,000 viewers, showcasing luxury items ranging from vintage handbags to unique home decor. Garkinos has become known for his spontaneous presentations, where he refrains from previewing the items beforehand, offering his genuine reactions and comments during the live sell-off. This element of surprise not only adds to the excitement but also fosters a sense of authenticity that resonates with viewers.

"I want people to have fun and be entertained," Garkinos admits, underscoring that the community feel of the live shows is central to their allure.

The Power of Community: The Stos Squad

At the heart of Covet by Christos is the dedicated group of customers known collectively as the "Stos Squad." This community extends beyond mere transactions; they share shopping experiences, social gatherings, and even philanthropic efforts. Garkinos emphasizes that he does not need thousands of customers—just the right people willing to engage fully with his brand.

The influence of the Stos Squad became evident during the recent California wildfires when members raised $100,000 for a fellow reseller affected by the disaster. Donations of luxury items were auctioned off during a live show specifically aimed at raising funds, demonstrating the communal spirit Garkinos has cultivated.

As Faryl Gilston, a long-time shopper, puts it, "It’s like going shopping with 125 of your closest friends." This atmosphere of camaraderie is part of what makes Covet by Christos uniquely appealing, promoting both individual connection and group support.

The Boom of Live Shopping

Garkinos' success reflects broader trends occurring within the retail sector. Live shopping has seen vast growth, particularly as platforms like TikTok Shop entered the U.S. market in 2023. Unlike traditional ecommerce methods, live shopping combines entertainment with retail, allowing for immediate purchases and enhanced interaction between hosts and viewers.

Coresight Research projects that live shopping will reach $68 billion in sales by 2026. Garkinos credits his early entry into this market as a factor contributing to his substantial revenue growth—approximately $100 million to date since he began the series.

Expanding Horizons: Beyond Instagram

Recognizing the potential for growth beyond the Instagram platform, Garkinos has since expanded Covet by Christos to TikTok, attracting a broader audience. His strategy now involves hiring additional hosts to manage the growing volume of content, with Garkinos focusing on only 30% of the live shows.

This diversification not only increases accessibility for potential buyers but also enhances the brand's reach across different demographics. The flexibility offered by multiple platforms aligns with shifting consumer habits, allowing viewers the freedom to engage with luxury shopping through their preferred social media channels.

Challenges in the Resale Market

While the boom in live luxury resale presents significant opportunities, it also introduces challenges. The resale market is currently fragmented, leading to inconsistent pricing and the potential for disillusioned buyers and sellers alike. Shoppers often encounter price disparities that may cause confusion regarding the value of items, when compared to other listings in the market.

For Garkinos, the tight regulation of how items are priced and the quality of what is sold on Covet by Christos is essential. This approach ensures customer satisfaction and preserves the integrity of the products offered.

Looking to the Future: The Netflix of Shopping

As Garkinos continues to evolve Covet by Christos, he harbors ambitions of creating a standalone platform for live shopping devoid of social media dependencies, which he whimsically refers to as the "Netflix of shopping." This would enable him to deliver a curated shopping experience directly to consumers, maximizing engagement without algorithmic constraints.

"I’ve been watching this type of selling for 35 years. I know what to do," Garkinos confidently asserts, positioning himself as both a pioneer and an experienced leader within the industry.

Conclusion

Christos Garkinos' journey from a young television shopping fan to the king of live luxury resale shows how resilience, creativity, and community can create enduring success, especially amid challenging times. As live shopping captures the attention of increasing numbers of consumers, it raises tantalizing questions about the future of retail—one where entertainment seamlessly blends with e-commerce. As platforms like Covet by Christos continue to innovate, they promise a bright future filled with opportunity and connection for dedicated shoppers and brands alike.

FAQ

What is Covet by Christos? Covet by Christos is a luxury resale shopping platform hosted by Christos Garkinos on Instagram Live, where users can purchase unique and curated fashion items in real time.

How did Christos Garkinos start live selling? Garkinos began live selling during the COVID-19 pandemic when traditional retail options were unavailable. He turned to Instagram Live to sell high-end inventory that he could not sell elsewhere.

What is the Stos Squad? The Stos Squad is a community of loyal shoppers who engage with Garkinos on his live shows. They often develop friendships, participate in philanthropic efforts, and go on shopping trips together.

How has live shopping grown in the U.S.? Live shopping in the U.S. is expected to see sales grow from $20 billion in 2022 to $68 billion by 2026, driven by the popularity of platforms like TikTok Shop and innovative retailers like Covet by Christos.

What challenges does the resale market face? The resale market is currently fragmented, leading to confusion about pricing and value for both buyers and sellers. Established brands like Covet by Christos aim to mitigate these issues through curated offerings and a focus on quality.