The second-hand market is progressively gaining ground all around the world -- so much so that brands and retailers are now getting in on the act with their own services. The latest in line is luxury e-commerce platform Mytheresa, which is launching a resale service for high-end items in partnership with Vestiaire Collective.
While there's nothing new about second-hand fashion, the market has nevertheless evolved considerably over the last few years. Today, it's no longer (just) about going to a thrift store to seek out rare vintage pieces, but about buying -- and selling -- unused clothes, accessories and shoes to fill your closet without causing (too much) harm to the planet. It's a circular model for fashion that's gradually gaining ground, both for consumers -- who see financial and environmental benefits -- and for the fashion industry, which has been slow to address sustainability issues.
The second-hand trade is winning over all kinds of players in the fashion industry, from fast-fashion brands to the biggest luxury fashion houses and designer labels. The luxury-focused multi-brand platform Mytheresa has announced that it is joining forces with pre-owned fashion specialists, Vestiaire Collective to offer its customers a resale service for high-end pieces. Initially, Mytheresa's "top clients" will be invited to participate in the program via a dedicated page for reselling their designer handbags.
To do so, customers simply need to fill out relevant information about these top-end items in order to receive a price quote. If this is accepted, the items are then sent to and checked by Vestiaire Collective, before customers receive payment in the form of a Mytheresa store credit. The pieces will then go up for sale worldwide on Vestiaire Collective.
"We are excited to be entering this unique and innovative partnership with Vestiaire Collective. We are confident that with this unique service we are providing a real benefit to our customers, giving their beautiful designer pieces a second life. It further allows us to help drive change in the fashion industry by incorporating circularity into our business model. We see a huge potential for the program and can't wait to extend it to more customers, categories and markets in the next months," said Michael Kliger, CEO of Mytheresa.
Although currently limited to handbags from some 20 luxury brands and to customers in Europe, the service is expected to expand to ready-to-wear and other accessories in the near future. The number of brands, as well as the number of customers who can make use of the scheme, are also scheduled to grow.