A Thriving Luxury Secondhand Market Drives Sustainable Consumption. The Consumers Behind Fashion’s Growing Secondhand Market Survey Sustainability, one of the ways luxury brands can benefit from the growing resale market, says a new survey by Vestiaire Collective x BCG. Vestiaire Collective, the leading global community platform for desirable preowned fashion, and Boston Consulting … Read more
The past week in luxury retail has underscored a sector in agile transition—strategically shedding what no longer serves, embracing cultural cachet, and redrawing the boundaries of what defines “luxury” for modern consumers. From De Beers’ decision to shutter its lab-grown diamond venture to ThredUp’s entry into the digital vintage pop-up space, the industry is signaling … Read more
The luxury resale market has been undergoing a seismic shift, and myGemma’s latest move—launching an ultra-streamlined consignment service—is proof that the game is evolving yet again. Known for its quick direct-selling model, myGemma has now entered the consignment space, promising sellers higher returns while handling the entire process from listing to logistics. But is this … Read more
Are you overdue for an image makeover? Are your clothes looking tired and worn? Overhauling your style can be expensive and time-consuming, and it can be hard to choose which clothes will suit you the most without trawling the high street. If you want to have a makeover without the enormous price tag, look no … Read more
Eight Sustainable Style Sanctuaries: Exploring Luxury Department Stores and their Eco-Conscious Initiatives. Several luxury department stores have launched eco-conscious initiatives to address the environmental impact of the fashion industry. Nordstrom: The retailer launched its “See You Tomorrow” program in 2020, which sells secondhand clothing from a variety of brands. Nordstrom also offers a clothing donation … Read more
Fashion resale is getting bigger and bigger. Driven by Gen-Z, Preowned Clothing is Expected to Make Up 27% of the Average Resale Buyer’s Closet By 2023. The estimated value of the apparel, footwear, and accessories resale market is between $100 and $120 billion worldwide, more than three times the size it was in 2020, according … Read more