The luxury resale marketplace announced on Thursday that gross merchandise value on its platform totaled approximately $146 million in November, with growth driven by shopping holidays such as Black Friday.
According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.
As high-end resale becomes increasingly mainstream, trends in the segment are increasingly tracking those of the new-product luxury market and that has been underlined by data from a leading name in the resale category
French luxury resale site Vestiaire Collective’s onward march is continuing with news that it has raised a further €178m in new finance, six months after a previous funding round. The firm is now valued at $1.7bn.