The stats would agree: according to market research firm GlobalData, the resale market is growing at a rate 11 times faster than traditional retail and should be worth US$84 billion by 2030, with fast fashion predicted to be worth about US$40 billion. And ThredUP quoted that 118 million consumers tried reselling for the first time in 2021, compared with just 36.2 million first-time sellers in 2020.
It’s not surprising when you think about it. We all know how important it is to reduce our environmental footprint, and the second-hand luxury retail market offers the perfect space to give your pre-loved pieces a second life, and you can earn some cash while you’re at it. That LBD you haven’t worn in years might be exactly what someone is searching for, or the handbag you’ve barely used could be the almost-brand-new arm candy of someone else’s dreams.
But, where to begin? Here are some designer sites worth knowing.
Vestiaire Collective
This is one of the leading online marketplaces for authentic pre-owned luxury fashion. With a global community of 10 million buyers poised to purchase, you can give almost anything in your wardrobe a second life. Known for its vast collection of Hermès, Louis Vuitton, Céline, and more, this is an ideal site for both buyers and sellers of designer fashion. Unlike many other consignment sites, it allows sellers to choose the price of the items they are selling. After submitting three to five photos, a description, the item’s condition, and an asking price, your pieces go up on the site. Vestiaire also offers tips for sellers on how to price items correctly.
Farfetch Second Life
Farfetch Second Life allows customers to trade in their designer bags in exchange for credit to shop new season collections on the site. They’re currently only accepting bags from a selection of luxury brands – the full list can be found online – but the process is as simple as sending a picture in exchange for a quote. They also happen to have one of the best curated and presented pre-owned sections we’ve seen.
The RealReal
One of the most well-known consignment stores, The RealReal does the hard work for you. It’s simple – you send them your items (or for US customers, they offer a collection service) and they’ll authenticate, photograph, price, and list your items to sell online, and you can receive up to 85% commission for the selling price. If you’re looking to buy, The RealReal has a large selection of designer items from vintage bags to shoes, apparel, accessories, and even furniture.
Reluxe Fashion
Reluxe is the latest designer resale site to hit the market and it encourages and enables shoppers to buy and sell pre-loved luxury clothing. Working with independent designers – some of our favourites are already on the brand list – Reluxe authenticates every item and takes care of the process, from photographing and listing through to selling and shipment. Sign up for updates.
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