Fashion Resales: Second-Hand Success Stories
Fashion’s resale revival shows no sign of abating, with UK charity shop Oxfam announcing plans to double the size of its online operations following 33% sales growth over the 2017 Christmas period (The Guardian, 2017). The increase saw the brand make a staggering £16.9m ($23.5m) in the eight weeks leading up to December 23.
The company has taken an increasingly fashion-minded approach to its outreach of late, enlisting renowned photographer David Bailey and veteran model Kate Moss to showcase some of its best donations for its 75th anniversary. Oxfam will also kick off London Fashion Week on February 15.
Social shopping platform Depop is also enjoying the resurgence, raising $20m for its US-focused expansion. The London-based start-up – popular with social media influencers and vintage sellers – plans to use the funding to open brick-and-mortar stores in New York and Los Angeles.
Bolstered by socially minded Gen-Z shoppers, the second-hand apparel industry – currently worth $18bn and expected to grow by 11% per annum (Retail Gazette, 2017) – is booming. With the sector outperforming all other clothing categories, resale brands are being recategorised and reimagined – emerging as the hubs of a fashion system in flux.