Inside the Massive Second-Hand Fashion Market | The Business of Fashion Show

Pre-loved fashion is on the rise as old clothes find new wearers through global technology platforms. What are the risks and rewards of this resale revolution?
At Vestiaire Collective’s authentication center in Northern France, CEO Max Bittner shows Imran Amed how countering counterfeits can secure growth. Back in London, he meets with Maria Raga, CEO of social e-commerce company Depop, as she looks to further build out a young online community.

#Resale #Fashion #BloombergQuicktake

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[neAutumnLeaf]

I feel like some people went from over consuming fast fashion, to over consuming second hand fashion. End of the day, it’s still overconsumption

[SimonSaysTooMUCH]

“Access to a Global Digital Wardrobe”

That really stuck with me, I really enjoy that sentiment.

[muhammadaliclay]

the whole notion that luxury brands are well made is wrong... i know a lot about footwear and i can say wholeheartedly that footwear from the majority of these luxury brands are way way way over priced or simply garbage...

[hcano]

yea but the goodwills and thrift stores are full of clothes no one wanys because they dont have a brand. I like the idea some small business are getting vintage clothes making it modern and reselling that which is cool!

[tredjesongen]

Vestairie are for buyers. Sellers get ripped off. Moral here is: think very well before buying luxury items, try to only buy keepers. The resell businesses are just about money, -for the owners .

[jamesslate]

For the luxury customer, oftentimes they will only wear something once. The perception is that they can't ruin their public image by wearing the garment twice. So it's only natural that these items find a second life in the resale market. One concept that's popular in the US is exemplified by the company Rent the Runway, which offers the customer a monthly subscription. With the subscription model, the customer selects new items every month, and they receive another shipment when they return the previous order. They also have the option of purchasing anything they've borrowed. I see this an an example of sustainability, since no one is actually buying anything.

[folliesofmen]

Terrific interviewer and interviewee. I've been thrifting for years because I think secondhand items have much more character and value. Fast fashion just don't seem to work on me. Great topic!

[EverythingHR]

This is a great business idea. Recycling high end items to resell and get more uses out of them is brilliant.

[markmeurink]

Thanks for going through all the trouble of shining a light

[trishhobbsphillips]

Another good rule when buying an alleged luxury item…..If the deal is too good to be true, then you are likely getting a dupe.

[anapplejobs]

Thank youu
Im a student
I have to do presentation about ..starting a seconhand business..


It helped a lot)

[celiaarseneault]

my concern is that the secondary market maybe be flooded with new goods with reduced prices to fool the consumer into thinking they are helping the environment. The lady from Depop clearly said they welcome working with companies not just individuals sellers.

[ritambhattacharyya]

its basically rent a swag!!
Tom Haverford is a genius!!!

[zomblog]

i buy to keep stuff permanently, and use until its falling apart, but i also dont buy duplicates (for example, J1 or 350 V2 collectors)

[sachikohardcore]

I love Vestiaire collective. There is space for improvement but it's a brilliant business idea

[johndonaldson]

This isn't a business of buying fashion but rather; selling emotions

[edum.]

Online commerce could dillute brand image over time thus lose value. That's one of the reasons Chanel isn't doing it. Brands need to manage production and demand. Part of wearing a luxury piece is the rarity of it.

[milenatos]

Pre-loved wasn't 'actually' loved- if it was it would be worn out and unsellable. Second hand is just propelling the fashion industry where consumers end up as resellers losing money in that transaction. They buy impulsively, wear rarely or never, sell, the garment end up again impulsively bought, never worn and eventually end up being tossed on landfills on coasts of Africa. Overproduction and overconsumption have to stop, the piles of fashion waste are becoming visible from space! And there is a huge carbon footprint and underpaid human labor on those piles of unworn clothes.

[williamchoi]

Vestiaire is the "WORST" re-sell is no control at all that buyer can agree to buy and finally don't complete the payment and that happen a lot a all there charges to seller and buyer are very high. And it takes so long to receive the item because they use cheap shipping company. I prefer Grailed or The Real Real....

[uttube]

Recycling is not really a solution for long term. We have to focus on less consumption, but then its against the foundation of economic (demand n supply)

If we are late to climate change party we better be far sighted about it rather than recyle.