Luxury Promise opens Europe’s largest pre-owned department store in London. Officially opened by the Mayor of London, Sadiq Khan, Luxury Promise is celebrating its graduation from the Walpole Brands of Tomorrow 2022 programme by launching Europe’s largest pre-owned department store in the heart of London’s Mayfair. As the company prepares to graduate from the Walpole … Read more
eBay Opens Store in NYC that Accepts Pre-Owned Luxury as Currency. Open during Jewelry Week in the heart of New York’s iconic Diamond District, the eBay Luxury Exchange capitalizes on the skyrocketing value of authenticated luxury items by letting shoppers exchange jewelry, handbags and watches from top brands like Gucci, Rolex, and Van Cleef & … Read more
Walpole, the industry body for the British luxury sector, has unveiled the participants for its annual Brands of Tomorrow programme. The initiative will nurture and guide 12 of Britain’s most innovative fledging luxury companies, and provide the skills and support needed to navigate the ongoing challenges of the global pandemic and beyond. Now in … Read more
The leading global platform for desirable second-hand fashion announces a new €178m (US$ 216m) financing round. Following a strong year that saw the platform’s transaction volume grow over 100% year-on-year, this financing round grants Vestiaire Collective unicorn status and ideally positions it for its next cycle of accelerated growth. Since its inception in … Read more
Resale market is a boost rather than a threat for luxury industry. Survey. Here is why Luxury Brands Should Celebrate the Pre-Owned Boom According to a new report, resale is a recruiting mechanism for luxury brands with second hand being a great way to boost sustainability. Second-hand sellers are predominantly first-hand buyers, says “Why Luxury … Read more
The exclusive partnership will serve as a catalyst for Neiman Marcus to enable its existing customers to participate in pre-owned, while also reaching new, younger shoppers ahead of their peak spending years. Neiman Marcus Group has agreed to acquire a minority stake in Fashionphile, a leading pre-owned e-commerce company focused exclusively on ultra-luxury … Read more