December 31, 2015
Instagram image from The RealReal
Consignment marketplace The RealReal saw a 60 percent growth in revenue for Gucci products after Alessandro Michele joined the Italian brand as creative director.
While brands such as Chanel, Hermès and Cartier remained as best-sellers for 2015, The RealReal notes in its end of year findings, "State of Luxury Resale 2015," that industry events affected the resale market. For example, Alexander Wang’s departure from Balenciaga (see story) raised the value of the designer’s namesake line by 15 percent on The RealReal.
Luxury upcycle
Similar to what has been seen for Gucci consignment since Mr. Michele was hired, The RealReal suggests that a comparable interest will be had for Balenciaga sans Mr. Wang. Demna Gvasalia has been hired as Mr. Wang’s replacement (see story), and The RealReal expects Balenciaga’s sales to grow in the second half of 2016.
A similar interest will remain for Gucci handbags in 2016 with secondhand sales rising 15 percent, compared to Italy’s Prada.
Trends in menswear, namely the popularity of New York Fashion Week: Men’s, resulted in a 30 percent increase in men’s fashion consignment.
The RealReal also expects millennials to continue driving commerce, with 50 percent of shoppers being part of the much-talked about demographic by the end of 2016.
Infographic from The RealReal's State of Luxury Resale 2015 report
Understanding resale trends may also assist brands in understanding which designs are most appealing to consumers, especially aspirationals who may only be able to afford items at consignment prices.
For 2015, The RealReal saw the fastest-selling sneakers were by Kanye West, Balenciaga, Christian Louboutin and Louis Vuitton. For women, the fastest-selling handbags came from Chanel, Louis Vuitton, Celine, Chloé and Gucci.
This year also saw a resurgence in denim, with resale revenue growing 113 percent. What was once considered a utilitarian item is now looked to for a fashion statement, and brands that might not typically be associated with jeans are getting on board (see story).
Share your thoughts. Click here
