French corporation Kering, which owns the Gucci and Balenciaga brands, has acquired a 5% stake in Vestiaire Collective, a major platform for selling used luxury clothing and handbags. Reported by Reuters.
"Used luxury goods are now a real and deeply entrenched trend, especially among young buyers," said François-Henri Pinault, CEO of Kering.
The purchase of shares is part of an investment round of $ 215 million. During the round, Vestiaire Collective was valued at $ 1 billion. Investment company Tiger Global also invested in the platform.
"A real shift is taking place that will shape the future of the fashion industry, and we want to shape that trend," said Gregory Butte, head of digital at Kering.
The volume of transactions on Vestiaire Collective has doubled in 2020. Last year, Gucci announced a partnership with The RealReal, a US-based luxury apparel resale platform.
In 2018, Ukraine became the third largest importer of second-hand
• According to analysts polled by Reuters, by 2023, the global share of second-hand items in consumers will grow from 21% in 2021 to 27%.
Author: Alexander Myasishchev