What's Happening?
Vestiaire Collective, a second-hand platform, has announced the expansion of its menswear category, reflecting significant growth in the luxury secondhand market. According to the company's CEO, Maximilian Bittner, menswear is becoming one of the platform's most dynamic segments, with men seeking exclusivity, fair pricing, and resale potential. The platform has observed that 70 percent of men now purchase clothing with resale in mind, and one in five purchases are made by men. The offering has grown by 88 percent in three years, with a focus on ready-to-wear items, trainers, and watches. The typical male customer is younger, primarily from the Millennial or Gen Z generations, and purchases are focused on brands like Louis Vuitton, Rolex, and Gucci.
Why It's Important?
The expansion of Vestiaire Collective's menswear category highlights a shift in consumer behavior, with men increasingly participating in the luxury secondhand market. This trend indicates a growing demand for sustainable fashion options and the desire for unique, high-quality pieces at accessible prices. The platform's growth in menswear suggests a significant market opportunity, as more men recognize the value of secondhand luxury items. This shift could influence the broader fashion industry, encouraging brands to consider sustainability and resale potential in their offerings. Additionally, the demographic insights provide valuable information for marketers and retailers aiming to target younger male consumers.
