For the vast majority of us, luxury fashion is a splurge that requires some thoughtful consideration and plenty of research. You want your pieces to be versatile enough that you’ll get plenty of use out of them, but will also hold onto their value should you ever decide to resell them.
With websites like The RealReal and Vestiare Collective earning major space in the luxury resale business, more and more shoppers are looking to this sustainable and affordable option to purchase designer clothing, shoes and handbags at prices below retail value.
“We’re seeing resale shift people’s shopping habits in the primary market,” said Allison Sommer, Director of Strategic Initiatives at The RealReal. “As shoppers get savvier about how they invest and the impact what they’re buying has on the planet, they’re turning to luxury resale as both a replacement for fast fashion and a barometer of value.”
Like any sector of the fashion industry, the business of reselling is dictated by changing trends, but there are a few brands that are managing to hold onto their value and proving the most bang for their buck. As millennials lead the charge towards a more sustainable future, expect to see the resale market and sharing economy continue to thrive.
If you’re considering taking the plunge and picking up that coveted designer piece, certain brands are holding up better than others in the resale market. Classics like the Hermès Kelly bag fetch on average 93 per cent of their original retail value, while newer pieces like the Chloé Drew bag sold for only 39 per cent of their original price.
SHOP IT: Nordstrom, $460
2. Louis Vuitton
SHOP IT: Farfetch, $3,207
SHOP IT: Moda Operandi, $3,780
SHOP IT: SSENSE, $1,150
SHOP IT: Dior, $2,950
SHOP IT: MyTheresa, $310 (€ 209)
9. Christian Louboutin
SHOP IT: Saks Fifth Avenue, $1,035
SHOP IT: Balenciaga, $2,630
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