Selfridges Is the Latest Department Store to Dip Into the Resale Market
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With eco-consciousness top of mind for many consumers these days, Selfridges has found a path into the conversation via a new partnership with Vestiaire Collective.
Decade-old resale site Vestiaire opened its first permanent boutique in Selfridges’ London flagship today.
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For the rollout, 200 items will be on sale, sourced especially for Selfridges — with apparel, accessories and vintage pieces among the offerings. Customers can also drop off items they wish to sell.
In addition to the brick-and-mortar space, shoppers can visit the Selfridges’ site to buy from an online Vestiaire edit.
Prior to launching the permanent boutique, Vestiaire Collective opened a two-week pop-up in Selfridges in October 2018.
While Selfridges has been working with Vestiaire for a while, given the current consumer emphasis on eco-friendly fashion and recycling, it’s not the only traditional retailer to partner with a re-commerce site in recent months. Macy’s and JCPenney both announced partnerships with ThredUp in August. Meanwhile, Neiman Marcus took a minority stake in an online consignment market, Fashionphile, in April. (Neiman’s shoppers can drop-off pre-owned pieces in-store, in exchange for payment to use at the chain.)
According to ThredUp’s 2019 Fashion Resale Market trend report, the resale market is worth $24 billion today and is expected to hit $51 billion by 2023. The resale sector has grown 21 times faster than traditional retail over the past three years, per data from ThredUp.
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