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The “smart side of fashion”: Vestiaire Collective’s first bi-annual report

Could the responsible side of fashion, overshadow its intrinsic
frivolity and versatility? In a post-Covid world in the midst of
questioning, the community platform for second-hand luxury products has
just launched its first report based on data from its global community,
combined with market studies and international analyzes.

The first observation, over a half-year: consumer attitudes are changing,
pleading for sustainable choices, refuges, and above all, purchases that
have meaning. Consumers around the world are in the process, notes
Vestiaire Collective, of lasting changes in their approach to fashion
consumption. Developments driven by the latest generations, Z and Y (the
Millennials), the most dynamic group in terms of buying and selling
second-hand fashion items.

Vestiaire Collective is building on a key period. Since the outbreak of the
pandemic, interactions between members of the platform have increased
considerably, suggesting a desire for “friendly” shopping, in spite of the
circumstances, confinement. And member-to-member sales were boosted by 82
percent, for an overall 88 percent increase in the volume of items
offered.

Three trends

Three major trends emerge from this booming market: the taste for vintage
(Vestiaire Collective notes the boom in Prada (+ 40 percent, but also the
revival of Jean-Paul Gaultier and Margiela) as well as the search for
sustainability ( for brands with a strong ad hoc DNA such as Stella
McCartney or Vivienne Westswood and the quest for safe (and therefore
sustainable) values, which have been embodied in particular on the platform
by the success of luxury watches (Omega, Rolex). In general, notes
Vestiaire Collective “impulse shopping has been replaced by timeless,
easy-to-wear pieces. Sustainable, safe and responsible products are
becoming more and more popular with consumers, fashion is changing”.

This panorama remains contrasted according to the geographic markets,
despite decades of globalization and cultural standardization. Overall,
Jean-Paul Gaultier, Dior, and Gucci (especially the iconic Jackie bag) hold
the upper hand.

Unsurprisingly in the Asia-Pacific region, Vuitton remains the big
favorite, stimulated by the relaunch of its “Multi-Pochettes” accessory.
Note also the renewed interest in the Fendi baguette bag. And special
mention to Off-White which received a big boost in January. Across the
Atlantic, Fendi remains prominent, but also Chloé and Prada, who have
communicated on the importance of recycled products in their
collection.

Finally, the men’s locker room continued to thrive, with a 51 percent
increase in male buyers and 90 percent in sellers. Among the most desirable
brands, the stainless Tom Ford, but also the vintage pieces of Bottega
Veneta, in particular the shoulder bags.

This article was originally published on FashionUnited.FR,
translated and edited to English.

Credit: Vestiaire Collective

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