WORDS: OLIVIA MORRIS
The Rise of Secondhand Luxury
Vintage, pre-loved, secondhand. We look at the smart, sustainable way to buy into luxury
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he rise of secondhand luxury over the past decade has been unparalleled and the want and desire to own brand-new luxury items is a thing of the past. Now estimated to be a multi-billion-dollar arm of the fashion industry, last year alone the secondhand luxury market saw a huge increase of 18 per cent from $36.1 billion in 2020 to $37.3 billion, according to Statista. It’s expected to increase twofold by 2026 to an estimated global value of $77 billion. With dedicated sites for pre-loved goods rising threefold including Vestiaire Collective, The Luxury Closet, Depop, The RealReal, Luxury Promise, Rotaro and more, it’s also a market big e-commerce sites have noticed. FARFETCH, one of the leading luxury fashion e-commerce sites, is one such key player that is paving the way in the luxury market. Just recently, the London-based e-commerce giant acquired resale platform Luxclusif, a leading tech business-to-busi-
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