Resale
Once upon a time, consumers disgustingly turned away from resale and secondhand stores. Regardless of the brand name or the luxury status, secondhand, resale items were labelled as dirty and cheap. Today’s consumers, however, see resale very, very differently. As stated by Cathleen Chen (2020) for the Business of Fashion:
Resale’s prospects have never been brighter. The pandemic and global economic downturn have created plenty of new customers looking to score deals on secondhand clothes. The stigma around online thrifting was already on the wane, thanks to the emergence of big players like The RealReal, Poshmark and ThredUp. Many consumers today see resale as savvy rather cheap. (para. 4)
On top of its thrifty, savvy appeal, purchasing resale, secondhand items is a wonderful way to extend a products’ lifespan. A major aspect of fashion’s lack of sustainability is that we, consumers, cycle through clothing so quickly. We don’t keep our products for nearly a long enough time. We throw things away after a couple of months, maybe a year max. By purchasing resale rather than new, we extend a products’ life cycle, which cuts down on the new products needing to be produced - thereby taking some of the pressure off the environment and its resources.
All that being said, I thought you all might enjoy a list of my top three resale sites for luxury goods!
My #1, go-to spot to shop luxury consignment is The RealReal. Founded in 2011 by Julie Wainwright (literally out of her home kitchen), The RealReal has truly changed the game when it comes to authenticated, high-quality luxury consignment shopping. A team of over 150 luxury brand authenticators, gemologists and horologists authenticate each and every item that is sold on The RealReal site - so (for the most part, at least) you know exactly what you’re getting. On top of that, each items’ condition is thoroughly described so that consumers know the physical state of the item that they’re purchasing. Warning: Items on The RealReal go fast! Set up alerts for your favorite items so that you can get them before they’re gone!
Founded in Paris in 2009 by Fanny Moizant and Sophie Hersan, Vestiaire Collective intended to give life and longevity to luxury goods that were no longer being used or worn by their owners (Binlot, 2019). When it was founded, resale was a very new concept in Paris - the only resale sites were websites like eBay. As explained by Hersan (2019) in an interview with Ann Binlot for Forbes:
We originally named the company “Vestiaire de Copines,” which translates to “the friend’s wardrobe.” In 2012, we renamed the company “Vestiaire Collective,” when we launched in the UK as it really spoke to our mission: creating the world’s most desirable wardrobe by connecting a global community of fashion lovers. It’s a symbol of our origins - a platform to buy, sell and share their wardrobes with each other. (para. 3)
Similar to The RealReal, a dedicated, educated team of authenticators work to ensure that each piece bought and sold on Vestiaire’s site is legitimate and high-quality.
Founded in 2007 by José Neves and launched in 2008, FARFETCH is the leading global platform for the luxury fashion industry. Today, FARFETCH connects consumers in over 190 countries with items from more than 50 countries and nearly 1,300 brands, boutiques and department stores (“About FARFETCH,” 2021). In 2010, FARFETCH started selling a curated collection of pre-owned and vintage products. Then in 2020, FARFETCH started its Second Life program, which allows customers to trade in their high-end bags in exchange for credit to shop new collections on the site (Hyland, 2020). FARFETCH continues to build on its sustainability initiatives to help its consumers to shop more consciously. In fact, FARFETCH provides consumers with specific collections and tools to better understand the direct impact that their purchases have on the environment. As stated by FARFETCH’s Chief Commercial and Sustainability Officer Giorgio Belloli (2020) in an interview with Véronique Hyland for Elle, “…the secondhand market will continue to become more relevant and a larger part of every business…Brands are starting to take more responsibility and ownership of what they have already produced…and are seeing the value in product they have already sold” (para. 7).
As you can likely see, there are so many places to shop resale, secondhand luxury goods. These sites are highly-curated and educated authenticators constantly work to ensure that consumers are only getting the best of the best. Shopping resale is a wonderful way to extend a products’ lifespan and cut down on the amount of new products needing to be produced.
So, the next time you’re thinking about investing in a luxury bag, or any other item at all, look at one of these sites first - you might find yourself a great deal!
Bye for now,
McGee