While luxury fashion brands, such as Balenciaga, Valentino, etc., are entering the secondary market with major success, some of them are still sceptical about this enterprise. According to a report this weekend in the Wall Street Journal, sales of pre-owned luxury goods saw a 65% hike as compared to last year. Bain & Co. data also predicts that sales in the luxury resale market will be bolstered by 15% annually in the next five years. However, brands such as Gucci appear unwilling to join this tide. Analysts such as the owner of Sandro and Maje, Jefferies analysts Flavio Cereda and Kathyrn Parker believe that resale and rental are both important in catering to Gen Z consumers looking for affordable products.
Read More from TheFashionLaw
