The secondhand market is something that is proliferating in the sector of the fashion. Of the hand of the new generations that look for to cause the lower possible impact in the environment, buy secondhand pieces is considered an alternative and a tendency that every time follows more people of our around.
What perhaps did not contemplate is that big signatures like Balenciaga went to participate and contribute of active way in the 'second-hand market luxury'. And it is that the fashionable signature of luxury property of Kering, beside the platform Reflaunt, has launched recently a program of 'Resale', that helps to sell to his consumers pieces of clothes and accessories.
How it works the new program of Resale of Balenciaga?
It signs it property of the group Kering pretends to evolve, definitely, to a model of consumption more sustainable. 'Re-Sell Program', like this has given it to know the mark, looks for to apply the concepts of 'up-cycling' and 'circular economy' in the sector of the fashion.
'Re-Sell Program' Wants to offer to his customers the possibility to award a new life to his pieces or accessories of Balenciaga, but, and Which is the profit of which decide to sell something so intimate and personnel like his goods of luxury? Balenciaga Proposes them two alternatives: compensate it economically by means of a banking transfer, or, the customer will be able to obtain a voucher of credit in the shop Balenciaga, that will discount him 20% in his future purchase.
The customers of Balenciaga that want to participate with his pieces or accessories in the 'Re-Sell Program', will direct to the points of sale that already carry out this new project and will deposit there his article. Later, said article will be subjected to a process of validation where will authenticate, and once was validated, the consumer will choose one of the two options that have exposed previously.
A loaded project of personality and is that, from Balenciaga, trust fully in 'Re-Sell Program' and do not think that can be seen like something hurtful for the mark, neither think in a possible 'devaluation'. It is more, they feel that it is an opportunity to know to a new type of consumer, of 'educate it' to a more sustainable consumption, boost the loyalty and the commitment of his customers and do increase the value of the products of luxury on a long-term basis.
Increasingly marks of luxury encourage to the 'Resale'
The places webs and the apps secondhand continue growing. No longer only it is Vinted, in which we find fashionable articles of all the marks, from 'fast-fashion' to some selected brands. It does relatively little, 'Business of Fashion' announced the launching of 'Goodwill', a new Marketplace, that looks for to compete with PoshMark and The RealReal, other two Marketplace full of goods and objects of luxury.
'Goodwill' Launched with more than 100.000 articles in his catalogue, in which they included clothes, toys and articles for the home of prestigious marks like Burberry or Gucci.
The impulse and the received that have this type of platforms between the consumers, does that the signatures of luxury want to join and form part of this new space that opens them .
Opportunity or devaluation?
However, also it finds the opposite face of the coin. That is the case of Chanel and Hermés, that show still skeptical in this new secondhand market and keep his caution in this regard, and think that this can give foot to that cannibalise the sales, boost the fakes and damage the image of his mark.
A study elaborated by 'Business of Fashion' (The Future of Fashion Resale) indicated all the contrary. The consumers of France, United States, United Kingdom, Germany or China considered that the secondhand market in the sector of the luxury generated a positive impact (or indifferent) on the mark, image or positioning. The conclusions that obtained 'BoF' as a result of the opinions and reviews of the consumers polled were that, the fact that this type of marks participated in a secondhand market, showed that: his products were very done, the company was engaged with the care of the environment and offered to the consumer the possibility of reuse his ancient articles.
In a report of ThredUp, award to platforms like PoshMark or The RealReal, an exponential growth with the step of the years . These two marketplaces of 'resale' of products of luxury, will suppose 18% of the secondhand market in 2031, the double of what was in 2021. Thus, many of the big brands, see this secondhand market, like a train that can not (neither have to) leave escape.