The business of second-hand luxury: the most sought-after brands, the best-selling pieces and the most profitable products to invest in

This has been reflected in recent years in which a decrease in the purchase of new luxury items has been observed, while the sale of second-hand products has experienced a notable increase. Consumers are now looking for more value and exclusivity in their purchases, finding in the used parts market an attractive option that combines quality and more affordable prices. Thus, new business opportunities arise, such as the one proposed by Loué, a vintage pieces store in Madrid where you can find luxury products selected with great care. «Circular luxury is presented as the best sustainable option. Thrift stores contribute significantly to reducing the environmental impact of the fashion industry by reducing the demand for new products and the environmental impact that their production entails. We promote conscious and responsible consumption, since we believe that luxury and sustainability can coexist», they count from since Loue. A circularity in which they coincide from VestiaireCollectivethe App for buying and selling second-hand luxury clothing: «Buying cheap fashion is misleading, since in the end you end up replacing the items over and over again. We defend circularity because it not only benefits consumers’ pockets, but also protects the planet. Second-hand luxury items are more profitable over time and have a longer lifespan,” he explains. Dounia Wone, Chief Impact Officer of the platform.

The most desired

Taking into account the number of items sold and item page views, the luxury brands that perform best on Vestiaire Collective are Chanel, Gucci and Louis Vuitton. Brands to which Vinted adds others such as Hermès, Dior, Saint Laurent either Prada and that they vary according to the different regions of Europe and that is that “while in France they opt for Chanel, Hermès and Dior. Fendi and Gucci are the most in demand in Italy and Loewe is preferred by the Spanish market,” says Cécile Wickmann, Senior Director of Luxury at Vinted.

The most wanted

Watches and bags They are some of the most in-demand products, although footwear and dresses are not lacking either. The sneakers Walk ‘n’ Diorthe dresses of MaxMarathe bags Goyard and Rimowa or the classic Chanel Boy Bag have been some of the most sought after products hewi (Hardly Ever Worn It), the English platform that at the beginning of the year launched its store in Amazon’s Luxury Stores to sell its second-hand luxury collections in several European countries, including Spain. Immediacy is usually a decisive factor when purchasing luxury products in this way, “There is a factor of urgency and immediacy in these purchases”they confirm from Hewi. While in the boutiques themselves there are waiting lists and even selection of clientele, in this way the delivery time is estimated between 1 and 3 days.

Luxury as an investment

These types of acquisitions have become a profitable value, an investment from which you can even make a profit on resale and this is how the market perceives it. In recent months, some of the most expensive items sold on Vinted include the bag Hermès Kelly, the Rolex Datejust and the bag Chanel Flap Bag. «Due to the shortage, demand exceeds supply and some items“, especially classic or limited edition bags, are proving to be real winners in terms of resale,” says Björn Holzhauer, Senior Brand Expert at Vinted. »The myths and idealization surrounding creation also play an important role. With some designs in the right color and in good conditionyou can make a profit immediately after purchasing. And the forecast that new prices will continue to increase is promising,” says the expert. From Hewi they affirm that brands such as Hermes and Chanel They appreciate a lot over time and “they are a very good investment, especially if they are taken care of. Resale has trends, if something is trending in the primary market then that item will also increase in price in the secondary market.

In stores like Loué you can buy the iconic Chanel Classic Flap by 6,900 euroswhile its price in the brand’s boutique is 11,700 euros; or a Louis Vuitton BB Capucines with multicolor print 4,500 euros. From time to time, record purchases are also made, such as the one that took place in 2022 at Vestiaire Collective, where a user paid 158,000 euros to obtain an extremely rare Hermès Birkin Faubourg bag.