How The Luxury Closet advocates the transition towards a circular economy
One word that adequately describes how consumers today, particularly younger generations, seek to change the fashion narrative for good: sustainability. Following the rise of fast-fashion business models, which focus on low prices, high collection turnarounds and cheaper materials, the negative impacts of overconsumption are being seen and felt...
Jun 9, 2021
The Untold Challenges of Secondhand fuelling Reflaunt’s Innovation
It’s Monday, 7am, and with a cup of freshly brewed coffee, I’ve gone back to the drawing board. I’ve listed my biggest challenges and hindrances to growing my 3-year-old marketplace, StyleTribute, a Southeast Asian pioneer in secondhand luxury. My whiteboard now reads: • How do we scale the supply of inventory and acquire new sellers? • How do...
May 7, 2021
The Opportunity Of Resale As A Service. What Are Retailers Waiting For?
Today, vintage and resale are becoming an established and formal element of the fashion industry. A recent report indicated that resale has grown 21x faster than traditional retail over the past three years. By 2023, the market is set to reach $51bn, growing at an annual projected rate of 16%. In 2020 the market beat those projections, with...
Feb 22, 2021
Video: London's Best Vintage Stores: Shopping For Hidden Streetwear Gems
Source: Highsnobiety channel, YouTube.
Nov 6, 2018
Second hand fashion set to become a bigger market than luxury by 2022
Buying second hand clothes is nothing new, but the sector has been growing considerably thanks to the Internet. The second hand market generated 360 billion US dollars worldwide in 2017, according to fashion resale service Thredup, with online sales of second hand items growing 35 percent against just 8 percent for brick and mortar stores. By...
Oct 23, 2018
Online clothing and accessories re-sale attracts financiers’ attention
New York – Consumers’ habits have changed dramatically since the economic recession hit a decade ago. Online shopping has become the new normal, while more and more consumers turn into savvy thrifters. The result? Second-hand apparel sales are estimated to surpass 40 billion dollars by 2022. Consumers have increasingly turned to second-hand...
Aug 12, 2018
Trend topic: How the second-hand market is growing
Second-hand clothing is becoming increasingly popular, thanks to our full wardrobes and a growing awareness concerning sustainable consumption. The collection of used and unwanted clothing is booming. At the most recent World Retail Congress, president of Inditex, Pablo Isla announced that the spanish company has already set up used-clothing...
May 15, 2018
Second hand luxury handbags, a good investment yielding up to 30 percent per year
The market for used luxury handbags has grown from 5 million pounds seven years ago to more than 26 million pounds last year and is expected to keep on growing. In fact, according to a recent report by Jefferies, some handbags outperform even the most successful hedge fund. Actually, highlights Jefferies, some owners could be sitting on annual...
Feb 20, 2018