Luxury was once built on being inaccessible. You never really knew the exact price of an Hermès bag, much less how many the shop had in stock at any given time. With the Internet, however, the veil has been lifted: Shopping forums were created to crack the code and resale sites flourished to eliminate exclusivity.

ADVERTISEMENT - CONTINUE READING BELOW
CONTINUE READING BELOW
Recommended Videos

Since then, the resale market has boomed. Over the last decade, fashion itself has grown thanks to these consignment websites. Instead of buying pieces at store price, people can now head to The RealReal, Grailed, and Vestiaire Collection to get things at discount. In 2018 alone, The RealReal sold over $700 million of goods. In fact, a recent report by the Boston Consulting Group says the secondary market is expected to grow from an estimated $25 billion in revenues in 2018 to around $36 billion in 2021.

When it comes to reselling, big brands have always stood back and watched. (Save for a lawsuit or two about counterfeits.) Now, luxury wants in on the action.

Stella McCartney is just one of the few who has dipped her toes in the water. The designer partnered with The RealReal to give consigners a $100 gift card for her store as part of a commitment to sustainability.

In a statement, LVMH's Bernard Arnault says this is why he partnered with the designer. "She was the first to put sustainability and ethical issues on the front stage, very early on, and built her House around these issues. It emphasizes LVMH Groups' commitment to sustainability," he says.

ADVERTISEMENT - CONTINUE READING BELOW

It's just one of the ways fashion is getting more involved, and we can definitely expect to see a lot more partnerships in the future. 

More From FemaleNetwork.com

Get the latest updates from Female Network
Subscribe to our Newsletter!
Comments
Trending on Network

Latest Stories

Youtuber Viy Cortez, 24, Now Owns Multiple Businesses

"Mas gusto kong nakikita yung pera kong umiikot kesa nasa bangko lang siya."

Will You Be Receiving Your 13th Month Pay This Year?

Are you still eligible to receive the 13th month pay during the pandemic?
Load More Stories