Luxury can be for everyone, you just need to know where to look. A good luxury reseller like Max Pawn will have high-quality items at every price level.
As part of our series about the 5 things you need to succeed in the fashion industry, I had the pleasure of interviewing Michael Mack — Owner of Max Pawn.
A fourth-generation pawn broker and native Nevadan, Max Pawn owner Michael Mack has become Las Vegas’ premier luxury reseller. Born and raised in Reno, Nevada, Mack graduated from the University of Southern California with degrees in finance and marketing before joining the family industry. Since opening, Max Pawn has been a six-time Best of Las Vegas winner and National Pawn Association Community Relations Award and Outstanding Pawn Industry Image Award recipient.
Thank you so much for joining us in this interview series! Can you tell us a story about what brought you to this specific career path?
I have the benefit of being a fourth-generation pawn broker, this is a family business! As my business has grown, I’ve had the opportunity to really focus on luxury reselling — we were one of the first pawn shops in the world to become true luxury experts and we’re now leaders in the industry.
Can you share the most interesting story that happened to you since you started?
During COVID, I was fortunate to have the foresight to go out and source lots of merchandise, so much so that I caught the eye of Louis Vuitton — because we had so many of their items. One day, during COVID, two gentlemen dressed to the nines in Italian suits came in with a third gentleman. They were impressed with the amount of Louis Vuitton we had to offer and how it was all authenticated — they praised our work then introduced me to Virgil Abloh (in charge of menswear at Louis Vuitton). It was so amazing to meet this man and to be in that light!
What do you think makes your company stand out? Can you share a story?
I’m proud to say I’m a three-time winner of the National Pawnbrokers’ Association Pawn Broker of the year, and we’ve been out in the forefront to share what holds value. We offered online sales early, and we stream a very popular live show every Saturday at 3pm. We’ve gained trust, even via website where you can make an offer 24/7.
Which tips would you recommend to your colleagues in your industry to help them to thrive and not “burn out”?
Take care of yourself! Despite all my work and travel, I make time to work out, eat right, and feel good. You can’t take care of your family and your employees if you aren’t taking care of yourself.
How have you used your success to bring goodness to the world?
I would say the most important thing I have is a great team that is well trained, compensated, and involved in the community. It adds another layer of confidence. We work with hyper-local non-profits to bring joy to our city — it has a reverberating effect on folks as they want to come back to us knowing we are givers in the community.
Do you see any fascinating developments emerging over the next few years in the fashion industry that you are excited about? Can you tell us about that?
I’m excited to see the luxury brands are looking at resale as an option. I think they were surprised to learn something I’ve known for so many years — there’s a huge demand for pre-loved luxury!
Anyone who buys luxury Gucci, Hermes, gold, silver, or diamonds knows the value will continue to grow, and consumers are getting smarter and investing in luxury goods. Handbags are considered an investment — and they’re good ones.
Thank you for all that. Here is the main question of our interview. What are your “Top 5 Things Needed to Succeed in the Fashion Industry”. Please share a story or example for each.
- Authenticity! Customers should be able to trust every purchase they make with you.
- Stay current with trends but know your classic styles. Investment pieces will never go out of style.
- Luxury can be for everyone, you just need to know where to look. A good luxury reseller like Max Pawn will have high-quality items at every price level.
- Making sure your staff are well trained and offer kind and authentic service — it’s as important as your merchandise
- Resellers are notorious for not accepting returns — that’s no way to run a business. You should stand by every product.
Every industry constantly evolves and seeks improvement. How do you think the fashion industry can improve itself? Can you give an example?
The fashion business seems to thrive no matter where we are in world or whatever economic issues we have. The average woman has 14 handbags in her closet and buys three new ones a year, no other product is that consistent. The industry needs to continue to embrace reselling, both for business and the planet.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)
I would encourage shoppers to consider pre-loved items across their closets — the environmental impact of fast fashion is incredible. Every second hand purchase you make gives you the opportunity to buy a better quality item at a similar price.
This was very inspiring. Thank you so much for joining us!