Luxury resale: a circular strategy by Vestiaire Collective

Duffy, K. (2021) Luxury resale: a circular strategy by Vestiaire Collective. Project Report. Bloomsbury. (doi: 10.5040/9781350934955.012).

Abstract

French-based luxury consignment company Vestiaire Collective is the largest authenticated luxury resale platform in the world. The resale or secondary market for luxury goods refers to the market where consumers buy and sell pre-owned luxury items. The secondary market has always existed in the background of the primary market, but now it is moving into the foreground and becoming one of the fastest growing areas of luxury. The global luxury resale market has historically been fragmented in small local boutiques and B2C transactions with limited consumer reach. Through digital technology, the experience of buying secondhand or vintage luxury is being enhanced and the reach increased. The circular economy is a driver of the luxury resale growth, fueled, in part, by younger affluent generations and their desire for more sustainability. Current economic and ecological crises are accelerating an existing shift in the consumer mindset, driven by growing criticism of waste-producing fashion business models, and increased desire for purpose-driven brand action. As a company, Vestiaire Collective is committed to limiting the waste produced by the fashion industry by keeping clothes out of landfill and increasing longevity. Vestiaire Collective encourages a consumer shift from throwaway fashion toward quality and durability that maintains value through a luxury circular strategy. This case explores the challenges and opportunities of luxury resale in shaping more sustainable consumption.

• Item Type: Research Reports or Papers (Project Report)
• Status: Published
• Glasgow Author(s) Enlighten ID: Duffy, Dr Katherine
• Authors: Duffy, K.
• College/School: College of Social Sciences > Adam Smith Business School > Management
• Publisher: Bloomsbury
• ISBN: 9781350930889