Magenta, Raffia and Other Top Luxury Resale Trends
Late last year, Pantone announced its 2023 color of the year, “Vivid Magenta,” sparking a rush on deep pink that only gathered steam with the release of the “Barbie” blockbuster hit this summer. Those two forces made magenta one of the most popular colors in fashion resale, according to a new report from luxury accessories resale platform Fashionphile.
According to Fashionphile’s Ultra-Luxury Resale Report, searches for “magenta” increased by 243 percent during the first half of 2023 compared to the latter half of 2022. Other top colors on the site included blue (220 percent), red (160 percent) and metallics (139 percent). Bold prints such as polka dots have increased in popularity on the site by 71 percent.
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Textural materials grew in popularity for bags this year, as well. Fashionphile saw a 30 percent increase for raffia and woven bags, with Prada designs leading the pack with a 138 percent jump. Denim bag searches increased 77.5 percent over last year, with Louis Vuitton most popular.
Quiet luxury, a trend that has grown this year in home goods as well as fashion, also has influenced handbag purchases, with Fashionphile noting that searches for “quiet luxury” brands such as Loewe, Celine and Bottega Veneta, have surged by 34 percent. Loewe saw a 60 percent increase in searches, Celine searches jumped by 55 percent and Bottega Veneta grew by 41 percent.
Looking at jewelry, Tiffany experienced a major resurgence on Fashionphile this year, with a 150 percent increase in searches for the iconic brand. Signet ring searches increased by 111 percent, while drop earrings overtook hoops in popularity, with Fashionphile selling 64 percent more of the former than the latter. Searches for pins and brooches increased by 30 percent, with Chanel and Gucci most popular.
Breaking its sales down by shopper demographics, Fashionphile found that Gen X and millennial customers far outpaced Gen Z on the site.
Vestiaire Collection campaign
Elsewhere in the world of fashion resale, Vestiaire Collective, a B Corp marketplace for pre-owned luxury fashion, has tapped a group of celebrity stylists for a new campaign celebrating high-end resale, dubbed “The Stylist Collective.”
The initiative harnesses the insight of five fashion heavyweights: Margherita Maccapani Missoni, designer and founder of fashion brand Maccapani; Hollywood stylist Erin Walsh; “Emily in Paris” costume designer and stylist Marilyn Fitoussi, stylist and fashion editor Georgia Medley; and stylist Mickael Carpin.
The fashion experts will offer styling advice on fashion dilemmas via interviews, curated edits and videos. Each stylist also will host a master class on topics such as how to find vintage treasures and how consumers can wield their wardrobe to present effortless Parisian style. The Stylist Collective panel also will select personal picks on the site that will be identified by a “Stylist Pick” badge.
“I can’t start to think about a project without thinking about vintage and pre- loved pieces. They are the DNA of my personal and professional style,” Fitoussi said. “That’s why I love Vestiaire Collective—I found 70 percent of looks on the site when I was designing the first season of ‘Emily in Paris.’”
Rebag’s new option
As competition heats up in the high-end resale marketplace, companies are adding new features and services to stand out or keep pace with rivals. Rebag, the resale startup dealing in handbags, fine jewelry and watches, is the latest to include a consignment option, taking a page from eBay’s and The RealReal‘s playbook.
“Our groundbreaking version of Consignment comes with disruptive features that are differentiated from others in the market,” said Charles Gorra, Rebag founder and CEO, who spent three months in business development at Rent the Runway after starting his career in finance. “What we are launching is quite a technical and innovative version of consignment. In particular we are providing minimum and maximum payout ranges so sellers have control over the outcome. This is unprecedent[ed] and we believe it can significantly change the luxury resale industry.”
To get an instant quote, users submit photos of their product or use the AI-based Clair option. They’ll see what they would get if they use trade-in to swap for another item, the buyout option if they want whatever the item will fetch, or now the consignment option, where they can guarantee that their item won’t sell for less than the minimum they set.
