Decade-old resale site Vestiaire opened its first permanent boutique in Selfridges’ London flagship today.
More from Footwear News
- How Luxury Brands Could Cash In On the Growing Resale Market
- This Is How Sustainable Luxury Is Helping the Planet -- And Letting Millennials In on the Action
- Retail Intel: June 2019
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.
How Luxury Brands Could Cash In On the Growing Resale Market
What The RealReal’s $300 Million IPO Means for the Resale Market
Best of Footwear News
- A Look Back at Iconic Department Stores That Went Out of Business
- 6 Shoe Companies That Have Gone Bankrupt in the Past Year — & How They're Faring Now