Want to buy and sell secondhand luxury? Here's how to do it.
Fashionphile's New York City flagship features 15,000 items ready to be resold — including hundreds of Hermès Birkins, which consistently pull a high ROI. Courtesy of Fashionphile Hermès and Louis Vuitton , meet ROI and liquidity. Resale is coming for luxury retail . The secondhand fashion and luxury market is growing three times as fast as the firsthand market, and it is expected to reach as much as $360 billion by 2030, according to an October report from Boston Consulting Group and pre-owned fashion marketplace Vestiaire Collective. Items bought secondhand accounted for 28% of the total closets of the nearly 8,000 people surveyed and 40% of their handbags. Revenue at luxury secondhand retailers like Fashionphile and The RealReal is up in the double-digit percentages so far this year. There are a few reasons for the secondhand surge: Affordability — in contrast to the price hikes from many luxury brands — has attracted buyers in an uncertain market, the proliferation of...
