Second-hand fashion: turning cast-offs into money bags

It’s the nirvana of fashion that looks too cool to school while saving the planet.Enter A thriving world of used handbags, Turns the status symbol into a sustainability badge. Prada is the latest to see the opportunity to make money in this market.

Don’t expect to put a bargain in a bag. Named after the stylish British actress Jane Birkin, Hermès’ famous Birkin bag shows the whims of the economics of the bag.

The bag bearing the name was born later Birkin grabbed She said she couldn’t find that pretty unattractive jewelry, a bag that could hold a baby bottle. Today, the brand new Birkin 35 in Togo Leather costs £ 8,890. However, because one of its predecessors was purchased second hand or the brand name was changed, purchasing “used” or “used” can cost multiples. Assuming no scratches or scratches, depreciation works very well at the top end of this market.

These bags are available in various shops, online platforms, and Auction house.. Vestiaire, An online site specializing in resale, which currently has 100 Birkin 25 bags. Vendors in the US, Japan, UK and Hong Kong are all trying to offload bags from around £ 13,000 to four times that.Auctions demand even higher prices, especially if the vendor is famous: Birkin-owned Birkin bags I went under Gavel For £ 119,000 earlier this year.

And it’s not just a fad in developed countries. Gen Z in China combines the nostalgia for the products that the previous generation enjoyed with a completely modern eye that matches the investment potential of Statement Piece. The marketplace is growing rapidly. Countries that have paved the way for livestreaming as e-commerce now boast the following start-ups: Lux now Introduce AI to provide product evaluation and value in seconds.

Charity shops, on the other hand, continue to cash in used clothing and accessories for valuable purposes. Don’t expect to find a Birkin bag lurking around the corner.

Lex recommends FT’s due diligence newsletter, a carefully selected briefing on the world of M & here apply.

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