The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The British accessories brand is the second label to join Vestiaire Collective’s ‘Brand Approved’ programme, where brands solicit pre-owned items from its top customers and resell them on the platform.
The new partnership expands on Mulberry’s own in-house resale service, called ‘Mulberry Exchange,’ which launched last February, allowing customers to exchange pre-worn Mulberry items for store credit, or purchase second-hand pieces that have been authenticated and restored by the brand. Mulberry follows in the footsteps of Alexander McQueen, which inked a similar tie-up with Vestiaire Collective when the programme first debuted in February.
Luxury interest in the resale market is mounting, as the fast-growing space becomes an increasingly attractive bet for brands wanting to tout sustainability credentials while tapping new revenue streams and building relationships with a new pool of consumers. The secondary fashion sector is expected to grow 15 to 20 percent each year through 2025, according to Boston Consulting Group.
Last week, McQueen parent Kering acquired a 5 percent stake in Vestiaire Collective, potentially opening the door for more labels within the Kering portfolio to list secondhand inventory on the platform. Last October, Gucci, another of Kering’s brands, inked a partnership with The RealReal.
Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.
Hermès’ elusive sales strategy is at the centre of a new legal challenge for the French luxury giant. BoF breaks down the practices under scrutiny and what the suit could mean for the fashion industry at large.
A sharp drop in the label’s Asia-Pacific sales is the latest sign that Chinese luxury demand is cooling.
This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.