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 Munich-based e-tailer is the latest luxury player to seek to tap into the fast-growing resale market, with a new service to help its top clients sell pre-loved items on Vestiaire in exchange for store credit launching Wednesday.
The initial service will apply to handbags from a list of 20 luxury designers and will only be available in Europe, but the companies said they were committed to roll out the service to a wider array of customers, product categories and brands by the end of the year.
The partnership will establish a dedicated interface for eligible MyTheresa customers. They will benefit from direct price quotes and will receive store credit as soon as the item is quality checked and authenticated, rather than waiting for it to be sold. A dedicated team is being established to support customers.
The move comes after Alexander McQueen launched a similar service with the Paris-based resale platform earlier this year. In March, the brand’s parent company, Kering acquired a 5 percent stake in the company.
In the long run, luxury brands that lean into timeless products consistently outperform their more fashion-driven peers, writes Pierre Mallevays.
Sabato De Sarno, a close associate of star designer Pierpaolo Piccioli, will succeed Alessandro Michele at the creative helm of Italy’s biggest brand.
The world’s biggest luxury conglomerate is counting on China’s reopening to boost sales after quarterly growth slowed to a single-digit rate for the first time since 2020.
This week LVMH will report results, and executives may offer clues about its megabrands’ next steps under new leadership. That plus what else to watch for this week.