Second-hand fashion platform Vestiaire Collective has secured 210 million dollars in fresh fundraising as it continues to establish itself as one of the major players in the red-hot resale market. The latest funding - which included participation from two new investors, SoftBank Group Corp and Generation Investment Management - raises the...
22 Sep 2021
After launching a childrenswear department at the beginning of the summer, luxury department store Harvey Nichols is now offering a resale drop-off point for pre-loved kids’ clothing. The British retailer has linked up with second-hand childrenswear marketplace Kids o’Clock for the new service, which will see Harvey Nichols customers receive...
13 Sep 2021
Gen Z has been disrupting the way we consume, buy and interact with the fashion industry for the past few years, shifting our perception of a one-way shopping system to a need for community and exchange. AndGalaxyperfectly illustrates this change of gears. Launched to be the first online platform to blend liveshopping with fashion resale, it’s...
10 Sep 2021
August 2021 was a very strong month in terms of sustainability initiatives of the fashion industry - there were collaborations galore, for example by Nike and Newlight Technologies or Heron Preston with Mercedes Benz or fashion weeks cooperating. Mending and upcycling is in, with brands and service providers offering repair services for clothes....
9 Sep 2021
We have all considered selling a large part of our wardrobes, especially over the last year during long term lockdowns when the world collectively realised that we maybe didn’t need all these clothes after all. The second-hand market has seen a significant increase, growing 20 times faster than traditional retail according to resale management...
6 Sep 2021
The RealReal, the world’s largest online marketplace for pre-owned luxury goods, said Gucci is the most bought and sold brand, according to its latest 2021 Luxury Resale Report. The report charts the current state of luxury resale, including the pandemic’s lasting impact on how people are buying and selling, based on the behaviors of The...
27 Aug 2021
Re-commerce company Trove, whose technology powers the resale services of brands like Lululemon, Patagonia, Nordstrom, Levi’s and Eileen Fisher, has secured 77.5 million dollars in Series D funding. The round was led by G2 Venture Partners, with other participants including Bank of Montreal, Capital One Ventures, Commerce Ventures and Wellington...
26 Aug 2021
Another day, another resale platform. This time it’s US fashion giant Urban Outfitters set to step up its presence in the red-hot second-hand fashion market with plans to introduce its own platform, Nuuly Thrift. Launching in the fall, the platform will offer consumers the opportunity to buy or sell women's, men's and kids' apparel and...
24 Aug 2021
Brands and retailers alike have embraced the resale market, from fast fashion labels launching their own platforms to luxury houses setting their goals toward a more conscious future. Their common point? Using resale initiatives to boost their sustainability credentials - H&M being the latest to do so with a marketplace launching 7 September in...
13 Aug 2021
In July, there was no sign of the hot summer weather slowing down the fashion industry’s sustainability efforts. On the contrary, there were collaborations galore be it in terms of recycling, resale, sustainable collections or material innovations. In addition, many brands published their accelerated sustainability goals or reaching of targets...
US second-hand fashion platform Poshmark has reported a 22 percent increase in net revenue in the second quarter of the year. For the three months to June 30, revenue increased to 81.76 million dollars compared to 66.87 million dollars a year earlier as its trailing 12 months active buyer numbers increased 16 percent to 7 million. Gross...
11 Aug 2021
Chrono24, the global digital marketplace for new and pre-owned luxury watches, has secured more than 100 million euros (118 million US dollars) in Series C investment. The round was led by General Atlantic, a leading global growth equity firm, with participation from Aglaé Ventures, the technology arm of LVMH founder Bernard Arnault’s family...
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