Secondhand luxury holds promise. Consumers have accumulated significant volumes of luxury goods in their wardrobes, some of which are hardly used. Giving these products a new life on the secondary market provides sellers with cash and gives a wider segment of consumers the opportunity to buy into luxury brands they could not otherwise afford. Over time, the secondary market for luxury goods could mature into something more structured, similar to what we have in cars.⁠
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But there are several key challenges that must be overcome.⁠
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Authenticity is a problem. Profitability is also a challenge. Furthermore, commitment from brands remains elusive. Secondhand luxury demand is highly concentrated on a handful of mega-brands which have no interest in making their styles more visible by providing means for consumers to reduce inventory in their closets.⁠
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Read the full story in our #linkinbio.⁠
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✍️ Luca Solca⁠
? Getty⁠
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#LuxuryFashion