Inside the Massive Second-Hand Fashion Market | The Business of Fashion Show

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Pre-loved fashion is on the rise as old clothes find new wearers through global technology platforms. What are the risks and rewards of this resale revolution?
At Vestiaire Collective’s authentication center in Northern France, CEO Max Bittner shows Imran Amed how countering counterfeits can secure growth. Back in London, he meets with Maria Raga, CEO of social e-commerce company Depop, as she looks to further build out a young online community.
Visit www.businessoffashion.com for fashion news, analysis and business intelligence from the leading digital authority on the global fashion industry.
#Resale #Fashion #BloombergQuicktake
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Опубликовано:

22 май 2024

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Комментарии : 177

@0neAutumnLeaf 2 года назад

I feel like some people went from over consuming fast fashion, to over consuming second hand fashion. End of the day, it’s still overconsumption

@merrymachiavelli2041 2 года назад

Not exactly, the primary issues with overconsumption are wasting resources and perpetuating exploitative labour practices. Second-hand clothing doesn't contribute directly to either (well, there are resources and exploitative labour practices involved in shipping, but that's a separate issue and much less per item of clothing). Of course, the best thing to do is buy just enough to cover your needs second-hand and use for as long as possible. But buying loads second-hand is still far better than fast fashion.

@edum.6353 2 года назад

yes, I think you're right, it's still overconsumption but at least they are consuming products that aren't hurting the enrivonment. I think the majority of consumers aren't educated about how a piece of design is an asset that has a value over time. However, there's an issue that wasn't talked about... Online commerce is great but it could dillute brand image on Luxury brands (thus making the brand lose value). That's one of the reasons Chanel isn't selling online. In the long term, they need to balance production and demand because in the end, a luxury piece has to be rare as well.

@andreang13 2 года назад

Agree 100%

@nommh 2 года назад

I have bought stuff from vestiaire collective for a couple of years and I have a suspicion that increasingly, things there are more and more brand new, perhaps remaindered from some boutique. So yes, the entire business idea of these platforms rests on the assumption that there will be enough overconsumption in the first market to create a second hand market with juicy profit margins for the platforms on which they are sold.

@latinaalma1947 2 года назад

no it goes into landfills if not resold to someone...the Third World clothes itself from US and European resold clothing.

@tredjesongen 2 года назад

Vestairie are for buyers. Sellers get ripped off. Moral here is: think very well before buying luxury items,try to only buy keepers. The resell businesses are just about money,-for the owners .

@hcano3506 2 года назад

yea but the goodwills and thrift stores are full of clothes no one wanys because they dont have a brand. I like the idea some small business are getting vintage clothes making it modern and reselling that which is cool!

@veganconservative1109 2 года назад

The truly poor and needy are glad that so much clothing doesn't have a 'brand'. It means they can cloth themselves AND eat dinner too.

@SimonSaysTooMUCH 2 года назад

“Access to a Global Digital Wardrobe” That really stuck with me, I really enjoy that sentiment.

@babymoon5282 2 года назад

Have fun with big data and zero privacy.

@trishhobbsphillips3164 2 года назад

Another good rule when buying an alleged luxury item…..If the deal is too good to be true, then you are likely getting a dupe.

@PHlophe 2 года назад

So true, Trish. but people fall for it every dayum time

@lovemo_dee 2 года назад

Yes! I thought that was where they were going lol.

@amde8554 2 года назад

A fake, dupes aren’t necessarily trying to pass for the real deal

@rachelmartineau8102 2 года назад

I've purchased luxury items from GoodWill and Value Village for next to nothing. I enjoy textiles and love seeing and touching them!

@muhammadaliclay8976 2 года назад

the whole notion that luxury brands are well made is wrong... i know a lot about footwear and i can say wholeheartedly that footwear from the majority of these luxury brands are way way way over priced or simply garbage...

@fullup91 2 года назад

Well made doesn't always mean hard wearing.

@dedengunawan877 2 года назад

Luxury footwears just add/ stamp their brand... they outsource the production to other companies😅

@sararichardson737 2 года назад

Ain’t that the truth. All the effort goes into branding than construction. Better off buying bespoke but then nobody would know and “flexing is what it’s all about not quality

@icinfin117 2 года назад

@@dedengunawan877 No, diffusion lines are outsourced (ie. Emporio Armani). Not the main brand (ie. Giorgio Armani).

@bobofthestorm 2 года назад

They sell scarcity

@jamesslate1026 2 года назад

For the luxury customer, oftentimes they will only wear something once. The perception is that they can't ruin their public image by wearing the garment twice. So it's only natural that these items find a second life in the resale market. One concept that's popular in the US is exemplified by the company Rent the Runway, which offers the customer a monthly subscription. With the subscription model, the customer selects new items every month, and they receive another shipment when they return the previous order. They also have the option of purchasing anything they've borrowed. I see this an an example of sustainability, since no one is actually buying anything.

@potatokiu9977 2 года назад

I feel this kind of business is more kind selling prestige instead of the goods itself, if you talk about sustainability you buy something once that you can wear for a long long time not something you buy and wear only for once and sell it again

@jon6309 Год назад

A lot of these luxury items are high maintenance so I can understand how this model can help. I’ve bought silk and cashmere sweaters from Banana republic which is a more affordable market for luxury goods but it requires dry cleaning and other laborious way of cleaning which to me is not worth it for the value of banana republic clothing so many of my clothes got damaged from the washing machine after one use. Also hoarding clothes is a big problem and there are some people who still have clothes in their closets with the price tag on and unused.

@johndonaldson3619 2 года назад

This isn't a business of buying fashion but rather; selling emotions

@whoamitodisagree1217 2 года назад

You mean like just a few companies influence the diamond market to keep up the image of a valuable item. Luxury is always about bragging and establishing a perception. And big companies appreciate all this consumers that fight over their lines, intentionally destroying or shorting supplies. Keeping the value of and interest in the company up.

@codebrker24 2 года назад

Fashion is all about selling emotions. It's always been about that. It's nothing new.

@johndonaldson3619 2 года назад

@@codebrker24 We'll watching this vid -the sellers would have you believe differently

@vermont741 2 года назад

I knit my own sweaters :-)

@folliesofmen2628 2 года назад

Terrific interviewer and interviewee. I've been thrifting for years because I think secondhand items have much more character and value. Fast fashion just don't seem to work on me. Great topic!

@celiaarseneault2355 2 года назад

my concern is that the secondary market maybe be flooded with new goods with reduced prices to fool the consumer into thinking they are helping the environment. The lady from Depop clearly said they welcome working with companies not just individuals sellers.

@ritambhattacharyya3781 2 года назад

its basically rent a swag!! Tom Haverford is a genius!!!

@EverythingHR Год назад

This is a great business idea. Recycling high end items to resell and get more uses out of them is brilliant.

@alexi2460 2 года назад

As some countries flood the USA with fast clothing, it is our job to teach our kids and the public that if we don't know how or where to recycle an item, don't buy it

@kingstonstreet3726 2 года назад

I really enjoy these documentaries

@anapplejobs 2 года назад

Thank youu Im a student I have to do presentation about ..starting a seconhand business.. It helped a lot)

@edum.6353 2 года назад

Online commerce could dillute brand image over time thus lose value. That's one of the reasons Chanel isn't doing it. Brands need to manage production and demand. Part of wearing a luxury piece is the rarity of it.

@ifeyhome 2 года назад

Those from the UK will know *that* one picture of Daniella Westbrook & her young daughter literally killed off the Burberry brand in the UK. Also mustn't forget football fans wearing tjosecheck caps too! Not quite sure it will ever recover

@zombl337og 2 года назад

i buy to keep stuff permanently, and use until its falling apart, but i also dont buy duplicates (for example, J1 or 350 V2 collectors)

@markmeurink6727 Год назад

Thanks for going through all the trouble of shining a light

@MissGourmandefr 2 года назад

Thank you very much for your articulated speech, it makes watching the video much more confortable

@kinshasav 2 года назад

Very informative! Loved it.

@dlevoy 2 года назад

A great piece with excellent interviews with some clever people. Thanks

@u4ttube 2 года назад

Recycling is not really a solution for long term. We have to focus on less consumption, but then its against the foundation of economic (demand n supply) If we are late to climate change party we better be far sighted about it rather than recyle.

@glitterarmy89 2 года назад

This has always been a thing, making out like it's a new thing because it's online is so insulting

@dr.debbiewilliams4263 2 года назад

I purchased designer clothing that I refuse to give up. My Burberry coat. 🤗

@msi8311 2 года назад

Same. Plus, most things aren’t made like they used to be.

@adithyaprasad6994 2 года назад

Wow Ryan moved from selling paper to new reporter... Great going

@lisaperez8276 2 года назад

Really enjoyed this feature, thanks!

@katemostreicher 2 года назад

loved this piece!

@sachikohardcore Год назад

I love Vestiaire collective. There is space for improvement but it's a brilliant business idea

@Rachel-ks5zn 2 года назад

Great film!

@williamchoi3409 2 года назад

Vestiaire is the "WORST" re-sell company.....there is no control at all that buyer can agree to buy and finally don't complete the payment and that happen a lot a lot.....and all there charges to seller and buyer are very high. And it takes so long to receive the item because they use cheap shipping company. I prefer Grailed or The Real Real....

@barbarapiazza-georgi3831 2 года назад

I have the opposite experience with them. I've bought over thirty items, only twice did I have a problem - once the seller declined to send the item and my money got refunded fast, and once the size was wrong, but I was able to send the item back at no charge and again, I got a refund fast. And their choice is out of this world!

@magnoliarose5910 2 года назад

I have had great experience buying almost 50 items over the last few years from the Real Real. I just bought one item from VC and that is currently processing. Thank you both for sharing your experiences with these companies.

@fashionaftermath Месяц назад

Second hand fashion on the rise ❤

@ajayprataprajvanshi3914 10 месяцев назад

Great experience

@frankydune 2 года назад

I appreciate Max Bittner's response to your question of over consumption: that they are being pro active in their practices to improve. Also Trade Up! Love this.

@ZGreenGaming 2 года назад

I love when we all invent new names for the same things and try to make something more then it actually is! LOL LOL

@_sustosotsus_9240 2 года назад

I dont remember a time where second hand clothes werent cool. Maybe it is just me.

@glitterarmy89 2 года назад

Yeah hay it's always been a thing. Its just online now

@_sustosotsus_9240 2 года назад

@@glitterarmy89 yeah but I have been shopping for second hand clothes online for the past 15 years.

@StinkyFlyfart 2 года назад

I don't like to buy and wear used clothing for many reasons. I also don't buy clothes unless I need to so my clothes stay with me until they tear or something and become literally garbage. I think my way is the best way to go when it comes to saving money and preserving the planet.

@extrastout1741 Год назад

Same, if a dress gets worn out I wear it at home then until it becomes rags for dusting. Second hand clothes unfortunately feel dirty even after washing

@JOSEPHCHARLESCOLIN2024 2 года назад

Walmart Shirt $1000 I spilt some katsup on sleeve

@surgicalcapscom 2 года назад

House of Fashion

@dr.debbiewilliams4263 2 года назад

Galliano designed for The Fifth Element.❤

@ywt5391 2 года назад

I thought that was Jean Paul Gaultier. ❤️

@filithe007 2 года назад

“As part of our mission we want to change consumers’ behavior to the better (…) we’ve actually spent a lol of time with external agencies to challenge ourselves”. Everyone who’s been inside a corporation knows that you don’t outsource anything that is strategically important. I genuinely like the idea and business model, but that’s clearly green washing.

@skyak4493 2 года назад

MMMM sort of.... How do fix an industry which is intrinsically wrong? Reuse IS a valid improvement if it displaces wasteful consumption.

@gennaterra 2 года назад

@@skyak4493 True... and I might add that we will never change the culture of over consumption if we don't shift the idea of growth, growth, growth... to balance, balance, balance. Simple to say, but extremely challenging to change.

@filithe007 2 года назад

@@gennaterra absolutely agree with both. However slow level of growth might be achieved, with new drivers. Imagine a society where most live few things, work remotely, in dense cities (more efficient by design) and mostly spend their money on knowledge (museums, live exhibitions, slow tourism, online courses…)

@theredrover3217 2 года назад

How wierd is it I was literally reading your comment in sync with the individual speaking. 😆 Agree w/you BTW.

@shylady8711 2 года назад

its cool that the designs that I hated before have market for it now. I am not friends with the 90's fashion, but I am glad other people can appreciate that.

@antiquebeast 2 года назад

Lol same. I remember so many designs from the 90s that I thought were a bit much then and now they’re going through a revival 🤷🏾‍♀️

@ChristianCDGrey 2 года назад

Awesome

@999hermione 2 года назад

I am a purse reseller, but still a newbie ☺️

@pamelawing626 2 года назад

That's where those smash and grab clothes end up if they are not found within a few days.

@kathleenmorris9309 2 года назад

I have a new pair of Chanel pumps which I want to sell.. Beautiful gold pumps.. Almost new but don't fit me..beautifully made.

@jameslucena 2 года назад

what brand is his green pullover? asking for a friend. ha!

@what_is_going_on7166 2 года назад

A seller from Hong Kong and a buyer from the US. Doesnt sound carbon neutral to me ;)

@miriamgalan1810 2 года назад

You’re missing the real point here! The reason there’s a re sale market isn’t for sustainability! It’s Branding!!! All kinds of ppl want access to the hottest brands! That’s how Payless went out of business. Even in the ghetto you will see Nikes, adidas, Jordan’s etc… branding is the root cause of this!

@sabihatanveer8494 2 года назад

Nice

@razgriz3151 2 года назад

His bmw sweater goes so hard

@williamchoi3409 2 года назад

This video of Vestiaire part is really not showing all the truth of it.....I sold some items there but I had to do my own photos of the items I want to sell and posted there.....I don't know why in this video that Vestiaire pretended that they has their own photographers and took photos of the selling items....it is totally a "LIE"......

@AP-qr5vy 2 года назад

No it's absolutely not a lie. They have tens of thousands of items they sell themselves. It's the Concierge Service.

@homebuddytv Год назад

Hi I'm from Philippines and want to be part of the company. I love fashion and art. How to apply for a job?

@RAM-im1xf Год назад

Opposite for me. Went from collecting archives pieces and buying brand new pieces from avant garde designers (Yohji, Rick, Ann D) over 18 years to wearing plain shirts, jeans, converse. I still have my collection in my basement all packed up in countless boxes. Wear what you want, but for me they no longer have any value. It's not going to make your life better, no one is going to remember what you wore as they walk down the street.

@glitterarmy89 2 года назад

3 months dosent sound like enough training for high end product's

@5453484 5 месяцев назад

He didn’t really answer the question directly how resale markets drive more purchases of unused luxury goods to resell. He sidestepped it.

@aidahoe2946 2 года назад

I create my own clothes

@BairMendoza 2 года назад

If this gig doesn’t work out for him, that tall French drink of water can read books on tape to me any day. 😍

@PHlophe 2 года назад

He done told you he is a "brute" lol!

@skateforhero 2 года назад

I hate to break it to you but he is already wealthy. Co-founded Lazada in SEA, one of the largest e-commerce marketplace of the region. The venture was backed by Rocket Internet and exited to Alibaba for +$2B at the time. Usually cofounders at rocket get 1-2% equity. Discounting any preferred shares and assuming an equal payout at the exit and in cash (no Baba stock), it wouldn't be a surprise if he walked away with at least $20M from Lazada.

@BairMendoza 2 года назад

@@skateforhero Rich AND can read bedtime stories to me. PERFECT! 😇

@sophiaelayne9984 2 года назад

@@BairMendoza Honey get in line. I’m prettier 😉

@michaelmatthew608 2 года назад

can you guys do about what happen to evergrande?

@tengkualiff 2 года назад

Isnt the resale market much more environmentally friendly?

@milenatos 4 дня назад

Pre-loved wasn't 'actually' loved- if it was it would be worn out and unsellable. Second hand is just propelling the fashion industry where consumers end up as resellers losing money in that transaction. They buy impulsively, wear rarely or never, sell, the garment end up again impulsively bought, never worn and eventually end up being tossed on landfills on coasts of Africa. Overproduction and overconsumption have to stop, the piles of fashion waste are becoming visible from space! And there is a huge carbon footprint and underpaid human labor on those piles of unworn clothes.

@marvenburreau 2 года назад

🤩

@supplegrey3613 2 года назад

❤️

@reputablehype 2 года назад

"To balance profit with purpo$e"

@RimeAsselman 2 года назад

The products itselves????

@secondschoping 6 месяцев назад

Hallo from second hand Ukraine❤❤❤❤❤

@jonnyh5858 2 года назад

Hilarious non answer from the Frenchman when asked about problems with authentic luxe goods. He is excited by digital wardrobe? I would be interested to see how many card processors initiate chargebacks for their products Personally, I relied on online forums and community verification, things like frayed edges on Bottega Veneta tags, serial numbers or lack thereof, alignment of zippers, number of stitches, and many other factors to see if something on eBay was real. It’s a difficult factor and hands down simply easier and more enjoyable to spend more money and buy new when it comes with peace of mind

@sbeckymartin 2 года назад

Agreed. I do have the impression that Vestiaire is better than TRR with authentication and product information.

@matteomatato 2 года назад

Hey, commented on another video. My girlfriend is trying to build a luxury fashion label that is based on sustainability and ethically produced garments. Reach out if you’re willing to learn more. Would be a massive privilege to speak with you!!

@liorajacob8094 2 года назад

Who else had to google the Himalayan Birkin?

@rachelxrasta 2 года назад

He really mistook Marilyn Monroe for Madonna 🤨

@silkrock7295 2 года назад

A CEO with a full beard? I am shook! Amed held his composure I would have melted. 😆

@theredrover3217 2 года назад

I'm bummed, all about luxury items - authentication critical = nothing I'd have to sell. Sigh. 😞

@sutats 2 года назад

Fast fashion has left the chat.

@hunterhabermehl1945 7 месяцев назад

No shot this dude said double stitch started in 1992😂 single stitch doesn’t mean an item is worth more, it means whatever manufacturer back then made it like that to cut back on cost most likely. I have multiple shirts from the 80s w double stitch. These tik tok resellers are clueless 😂

@thetrison 2 года назад

Anyone else only pay attention to the "brute" and none of the business stuff?

@PHlophe 2 года назад

andrew Lee , he was trying to sound more masculine lol!

@mv848 2 года назад

I can speak for myself: the way I dress says nothing about me. I just care about being slim, in shape, about healthy teeth, hair. I also surround myself with people who never tell a joke - but make me laugh. None of them wear anything special really

@cakeasaverb 2 года назад

This attempt to present these invalid points about resale are disappointing. No everyone is seeking brands and alleys be real each and every one of these large brands or luxury brands had no interest in resale until they realized it was an industry. They just want another payday on things they should not even have produced in the first place. Resale is an attempt to clean up and the industry was created by industrious small sellers. Not all resale is luxury. Luxury resale has already been going on forever for those trying to find a deal. Let’s place all this other stuff. Let’s sew together all the fashion nova garbage into more beautiful things. Resale can be so much!

@ramonagutierrez1671 2 года назад

No wonder the evil uses Prada!😂😂😂😂

@lilim88 Год назад

I am all for repurposing, ressurecting and elongating fashion items in this fast-paced world we are living. However, I DO NOT highly recommend Verstiaire Collective. This company is not ready to take second-hand market globally due to their terrible customer experience, non-user friendly app navigation (even the web does not make sense). There are other companies which are more competent and understand the real meaning of ‘service’ such as The Real Real or 1stsibs.

@edvaira6891 2 года назад

I just can’t freaking care about an industry this shallow

@msi8311 2 года назад

A lot of industries are shallow, each person has their own hobbies. Personally I love fashion, mostly for the quality and craft, my dad likes hunting, my friend likes cars, another likes high end kitchenware. Mostly I try to make sure to not judge other peoples affinities, everyone has a weird one.

@codebrker24 2 года назад

And yet you are here making a comment on how shallow the industry is. We are all touched by fashion, even if we claim we are not.

@sophiaelayne9984 2 года назад

@@codebrker24 Yep. “The Devil Wears Prada”.

@majdavojnikovic 2 года назад

This kind of clothes seldom end in landfills anyway. So, whatever :)

@gemstonesparkle7915 2 года назад

What's her height?

@lemonrand1 2 года назад

A waste of resource… maybe the only industry that is better in Facebook’s virtual world

@JON-sh4te 2 года назад

disgusted about all the clothing we are killing the environment period

@none-kq7ho 2 года назад

People with money buy god awful clothes and have awful fashion sense. Kanyes shoes for example.

@zombl337og 2 года назад

just like any brand, i like some of his work and hate some of the others.

@sophiaelayne9984 2 года назад

Simple. So don’t YOU buy them.

@wallacesouza2678 Год назад

The best decision l ever made in my life wasinvesting in the crypto market. Trust me guys, it really pays a lot!

@bitboyCrypto7 Год назад

Yes, crypto market is highly profitable

@antoinejean2608 Год назад

When | saw testimonies all over the place I thought it was all made up stories till | was convinced and gave it a try and honestly I don't regret the move I made because I invested in a big way

@carolineknudsen5306 Год назад

expert Mrs Olivera Jane! I saw this recommendation some time ago. I ignored it only to see that someone is earning from her.

@marinefernandez3166 Год назад

+16464

@marinefernandez3166 Год назад

919974

@outinarizona 2 года назад

Those tops showcased by Fiona and Youth are worth exactly $1 or maybe 1 Euro, what they paid for them. Or less. To quote 90/110 Euro selling is over-priced ridiculousness. And sad for the person who over-pays for it.

@catschorus4684 2 года назад

Vestiaire Collective has the worst customer service in the world. It is literally a joke

@sararichardson737 2 года назад

It really is the worst

@loafandjug321 2 года назад

Get help

@prinpat370 2 года назад

Maybe just stop freaking buying so much. You don’t have more value because you wear sth new every second day

@vincentanguoni8938 2 года назад

Originality! Self expression!!?? More like high end lemmings!!!!

@takeiteasy2305 2 года назад

Capitalism on it best consumers society

@EatSoGoodPH 2 года назад

Scam

@tooreal8968 2 года назад

This industry is going to flop so fast.

@soniamcalear2824 2 года назад

Dump those Masks!!!!

@cubitme 2 года назад

The interview is so pretentious and pompous.

@ericcarabetta1161 2 года назад

The entire fashion industry baffles me. What's the point? All clothes look the same, just different colors. Also, it's kinda gross wearing other people's clothes, their funk will never fully wash out.

@ed11689 2 года назад

I think a lot of people judge you by the clothes you wear, it's an important source of first impressions etc

@zombl337og 2 года назад

different clothes make you appear different, changes up your proportions. For example tshirts.......short sleeve, long sleeve, oversized, slim fit, different materials, long tees.......they will all make you look a certain way

@PHlophe 2 года назад

@@marioferreira7605 chico, music is the same as fast fashion. throw away stuff. and yeah wearing stuff people have worn is gross . Imma keep what i've got.

@PHlophe 2 года назад

@@marioferreira7605 its actually the chrome update. i saw many of my comments elsewhere entirely glad to see i am not the only one

@VAL702 2 года назад

You are not the target audience if you don’t understand it. Not everything is for everybody

@user-bl5ty6dp9u 5 месяцев назад

@ *uzbagx* included, I firmly assert that unless one possesses the requisite skills, differentiating variations in the sack's appearance or metallic elements is an unachievable task.