While the fashion industry is projected to take its biggest financial hit in decades during the pandemic, the resale industry is thriving. The fact that shiny no longer has to mean new is "simply the contemporary approach to designer fashion," Max Schönemann, CEO of the German luxury fashion resale platform Rebelle, told DW. "It never bothered me that the clothes have been worn before. Preloved is the new motto of many young fashionistas. The shabby, used image of secondhand clothing is gradually fading. Kering's investment could signal a wider pivot towards resale in the industry.įrancois-Henri Pinault, chairman and CEO of Kering, said in a statement: "Pre-owned luxury is now a real and deeply rooted trend." Preloved: An image transformation The resale market was previously shunned by luxury fashion houses, who are wary of ceding control of the distribution, price and perception of their items. Earlier this month, Kering, the luxury behemoth that owns brands such as Gucci, Alexander McQueen and Balenciaga, acquired a 5% stake in the French high-end resale platform Vestiaire Collective. It's customers like her who are causing fashion labels to reconsider their stance towards the resale sector. The 27-year-old woman from Munich peruses high-end resale platforms weekly, hunting for secondhand luxury fashion. Suddenly, it pops up on your screen," Antonia Barthel told DW.
"There's always the thrill of finding something really cool, something you always wanted but could never afford.
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