The secondhand and resale clothing market was worth about 289 billion dollars, according to data reported by Bloomberg without specifying the measurement date, as the market expands on rising demand for rare, limited-edition pieces from global brands.
The market’s growth reflects the transformation of some luxury clothing and accessories into products that are traded based on rarity and demand, in addition to their consumer value, amid interest from collectors and a segment of buyers who factor in resale potential when making purchasing decisions.
Rarity and celebrities drive demand
Clothing worn by film stars and celebrities is attracting growing interest from buyers, as photographers and fashion experts track looks at festivals and major events to identify pieces that could later become sought-after in the resale market.
The market includes pieces dating back decades, while product prices are tied to demand and rarity. The value of a handbag, watch or limited-edition fashion piece may rise when interest increases and fall when attention wanes or fashion trends change.
Brands are monitoring the secondary market
Resale activity has prompted luxury fashion companies to monitor the secondary market, given that the ability of products to retain their value is linked to a brand’s image and appeal to customers.
The article said some rare handbags, watches and dresses had recorded price gains over time, and that certain pieces had in some cases outperformed traditional investments, but it provided no figures, time periods or comparative indicators to support that assessment.
