Luxury Resale Is China’s Next Retail Battleground

(jingdaily.com) - Resale has become a hot topic in the global luxury industry, with the market seeing steady growth as platforms like The RealReal and Vestiaire Collective find themselves joined by more brand-owned efforts and retail partnerships aimed at developing the “circular economy.” Like much else that goes on in today’s luxury market, rising interest in resale among brands and groups like LVMH and Kering is being driven by demand among millennial and Gen Z consumers. Whether they’re buying secondhand luxury goods because they simply cannot afford new collections, or out of an interest in sustainable consumption, consumers born after 1980 — particularly in fast-growing markets like China — are more open to purchasing used luxury goods than their older counterparts.