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In the final episode, professor of psychology Sheldon Solomon, Depop's head of sustainability Justine Porterie, The Fabricant's head of content and strategy Michaela Larosse, and Chloé's chief sustainability officer Aude Vergne join retail futurist Doug Stephens to explore how evolving consumer preferences are manifesting in purchasing decisions.

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In the final episode, professor of psychology Sheldon Solomon, Depop's head of sustainability Justine Porterie, The Fabricant's head of content and strategy Michaela Larosse, and Chloé's chief sustainability officer Aude Vergne join retail futurist Doug Stephens to explore how evolving consumer preferences are manifesting in purchasing decisions.

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Online resale is experimenting with having a brick-and-mortar presence too. Neiman Marcus Group acquired a minority stake in Fashionphile three years ago. Fashionphile now has 10 locations in Neiman Marcus stores where sellers can sell their luxury items directly to customers. "This [is] the first major luxury retail environment where customers can walk in with last season's handbags and receive a credit to walk out with this season's handbag or a Neiman Marcus gift card that includes an additional 10% bonus on the buyout value," Davis says.

ThredUp, meanwhile, is expanding its partnerships with major retailers. Utilizing ThredUp's Resale-as-a-Service (RaaS) platform, Walmart, Adidas, Target, and more are offering resale on their own sites. Wells Fargo analysts have said this could potentially end up being more lucrative for the company than its own resale platform.

​​"Traditional retail isn't set up to intake, process, price, and sell millions of unique items. ThredUp, on the other hand, has spent the last 12 years building the infrastructure to power resale at scale," Wallace says.

Coach sells restored vintage pieces and repurposed used pieces. The limited-edition drops regularly sell out each month.

Other retailers are expanding into the space. Nuuly, owned by URBN (the parent to Urban Outfitters), initially launched as a fashion rental platform in 2019, and in 2021 decided to expand into resale. "Rental and resale are natural partners that can benefit from each other in the same ecosystem," Kim Gallagher, Nuuly's director of marketing and customer success tells Glamour. "Whether [customers are] looking to extend the life cycle of their own garments by selling them on Nuuly Thrift or taking part in the 'don't buy new' movement and renting their wardrobes, we're here to help them."

Meanwhile, fashion brands, many of which either ignored resale or actively tried to fight its growth, are increasingly dipping their toes into the pool.

Accessories brand Dagne Dover launched resale-which they call Almost Vintage- on its site in mid-2021. "There were already Facebook groups where we were seeing resale activity," Dagne Dover cofounder and COO Deepa Gandhi tells Glamour. "There were already people selling Dagne on Poshmark. We just wanted to pull that experience into our channel so we could control it."

Gandhi says it's still a small part of the overall business but thinks it won't be long before the offering is fairly ubiquitous among brands. "This is just another way for brands to get first-party data, and I wouldn't be surprised if it becomes an unofficial requirement for ESG [environmental, social, and corporate governance]."

Despite the growing number of companies eyeing and entering the resale market, making it profitable and scaling these businesses has been difficult. And it's only going to get harder.

Direct-to-consumer workwear brand M.M.LaFleur also has delved into resale recently. "We wanted to launch resale as a part of our sustainability road map for a long time, but we didn't have the resources internally to scale it," Sarah LaFleur, founder and CEO, says. Initially, M.M.LaFleur partnered with ThredUp before utilizing the company Archive, which gives it and other brands operating systems to launch platforms to resell their own preowned designs on their sites.

Coach has taken a different tack with its offering (Re)Loved, selling vintage pieces, deconstructed and repurposed used pieces, and customized one-of-a-kind pieces made from secondhand items. The limited-edition drops regularly sell out each month.

"[We are] offering new circular pathways to give these products a second or third life and thus keep them out of landfills," Joon Silverstein, Coach's head of digital and sustainability, said.

Despite the growing number of companies eyeing and entering the resale market, making resale profitable and scaling these businesses has been difficult. And with more and more competition in the space, it's only going to get harder.

The RealReal showed a net loss of $236 million in 2021. The company doesn't believe it will be profitable until 2024. ThredUp had a net loss of $63.2 million in 2021. And while Poshmark has been profitable in some quarters, it showed a loss in the most recent quarter.

"There's a lot of manpower involved in resale-some of these companies are handling intake and inventory for a lot of unique products, they are making sure items are authentic-there is a significant checklist," Ceci said. To be successful for the long haul, a resale company needs to have a strong strategy that differentiates its brand, operational and logistical capability, and marketing, Ceci tells Glamour.

"Everyone is trying to figure it out, including Amazon," Ceci said. "It's going to take some time to get worked out."

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Shopping Secondhand Is Now a Badge of Honor-Not a Dirty Secret

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Online resale is experimenting with having a brick-and-mortar presence too. Neiman Marcus Group acquired a minority stake in Fashionphile three years ago. Fashionphile now has 10 locations in Neiman Marcus stores where sellers can sell their luxury items directly to customers.

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Why upcycling clothes is the next big thing in sustainable fashion

Fast Fashion has been the catalyst for a problem which has been brewing for a long time in the textile industry.

In the last 15 years, clothing production has approximately doubled, driven by a growing middle-class population across the globe and increased per capita sales in mature economies.

The apparel industry is second only to the oil industry when it comes to pollution, and this hasn't gone unnoticed by today's more environmentally conscious generation.

Where once using old, hand-me-down, or second-hand clothes was considered "cheap", now it is seen as a dedication to sustainability.

One way in which people are being more "green" is by upcycling clothes, and it's becoming so popular, it's now an industry by itself.

What does upcycling clothes mean?

Upcycling clothes is to take old, worn out or damaged clothing and transform it into something new.

Clothing that doesn't fit any longer, is torn, stained or otherwise damaged, can be refashioned into a new product.

Also referred to as repurposed clothing, reused clothing and recycled clothing, upcycled clothing is becoming increasingly popular in today's fashion industry.

The difference between upcycling and recycling

It should be noted that upcycling is different from recycling.

Upcycling is reusing the same fabric and turning it into something else.

Recycling entails breaking down materials before they are reconstituted into something else. This is usually done in two ways; mechanically and chemically.

Mechanical recycling is when a fabric, such as cotton or wool, is shredded. Then the resulting fibre is woven into a new fabric.

Chemical recycling is when a fabric is treated with a chemical and then dissolved. The resulting fibre can then be mixed with other fibres to make a new fabric.

Recycling uses a lot of resources and - in the case of chemical recycling - utilizes harmful substances to create something new.

Upcycling isn't as damaging to the environment and uses no other natural resources.

Just to confuse things, there is also downcycling which is to take old clothes and, instead of making them into something better, turn them into rags for cleaning.

Why bother upcycling clothes?

The current apparel industry model is extremely wasteful and massively polluting.

At the moment, watchdogs estimate that the textile industry contributes around 10% of global emissions - more than shipping and flights combined.

The World Wildlife Fund estimates that it takes 20,000 litres of freshwater to make one kilogram of cotton; enough for a pair of jeans and a t-shirt! And with farming accounting for 70% of all freshwater use, we can expect to see dramatic changes to the industry in the next 10-20 years.

The industry is basically a conveyer belt that takes enormous amounts of resources and creates clothes which are only worn for a fleeting time before being dumped in landfills.

Upcycling clothes is a way to break the repetition of waste and environmental damage.

Why upcycling clothes is the future

Many companies are now exclusively only dealing in upcycled clothes.

Eileen Fisher

Thanks to its Resewn Collection, Eileen Fisher offers to take back and repurpose the brand's old garments, with over 1 million pieces recovered since 2009.

The company has two factories, New York and Seattle, where returned Eileen Fisher garments are mended, over-dyed, felted or re-sewn into new skirts, coats, vests, jackets, wall hangings and pillows.

RE/DONE

Focusing mainly on denim, vintage brand RE/DONE takes vintage denim apart at the seams and repurposes it into new jeans - all without the use of harsh chemicals.

The company also try to keep the original stitching in place where possible, preserving the years of history and stories stored in every pair of jeans.

Urban Outfitters

The big-name brand have produced their very own upcycling spin-off called Urban Renewal, which uses surplus materials or deadstock (products that companies make but aren't able to sell) and transforms it into fashionable clothing.

ASOS

Another big name jumping onto the upcycling train is ASOS with their ASOS Reclaimed line. Influenced by classic shapes, style icons and old-school street brands, Reclaimed Vintage Inspired is where you'll find fresh ideas with a vintage twist.

We can help with your upcycling clothes business

The trend for upcycling clothes is taking off just in time, but there is still a long way to go. That also means there is a lot of potential room for growth for a new business venture.

Whether you're currently in the apparel industry and want to branch out into upcycling, or you see a gap in the market you can join, then we can help.

With decades of experience in the industry, we work together with our clients, manufacturers and distributors to ensure a fair and sustainable practice for everyone.

We take sustainability very seriously here and we are acutely aware that the current system isn't working. Something has to change.

Upcycling is a small, but important, step towards that change.

Contact us today if you would like to know more about how we can help you and your business make a brighter, greener future.

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Why upcycling clothes is the next big thing in sustainable fashion

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One way in which people are being more "green" is by upcycling clothes, and it's becoming so popular, it's now an industry in itself.

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' Sustainability' is, without question, the biggest buzzword in fashion at the moment. But with the threat of 'greenwashing' - using eco and sustainable terminology without doing the work to ensure verifiable benefit to the planet - on the rise, consumers are having to become more savvy about interrogating their purchases.

Upcycling clothes that already exist is one way to ensure sustainability, because it promotes the idea of circular fashion. To 'upcycle' is to take something already made and then improve upon it, or turn it into a fresh item, meaning that you're not seeking out new, raw materials to start from scratch. It means older clothes remain in circulation rather than heading to landfill.

There are, of course, plenty of ways to upcycle clothes yourself at home. But as the pressure to adopt sustainable practises increases, plenty of brands are also finding ways to introduce upcycling into their production process.

A rise in the use of deadstock and already existing fabrics has recently been embraced by many an upcoming designer. This means, using materials that would otherwise go to waste, pattern cut-offs, deadstock garments and limited runs of fabrics crying out for a second lease of life. So while it doesn't necessarily eliminate the fabrication of new clothes, it does mean that designers are creating collections whilst considering the life-cycle of their pieces.

So, what actually is deadstock?

In short, deadstock refers to leftover stock of a product, be it whole garments that haven't sold or leftover fabrics. Simple! This differs from sourcing vintage fabrics or second-hand pieces, because 'deadstock' means that they haven't previously been worn or even sold. Instead, you're looking at a brand new fabric or garment that never quite made it into stores, or did, but wasn't snapped up by a shopper to fulfil its fashion destiny.

An example for you is fashion label Reformation, who make their garments from rescued deadstock fabrics and upcycled clothing.

'Deadstock refers to leftover stock of a product'

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Why should it be used more?

It's estimated that over 100 billion, yes billion, garments are produced annually, and sadly not all of these will be worn over and over again. Hold onto your second-hand hats here people but, according to Clothes Aid, the UK sends a staggering 300,000 tonnes of wearable clothing to landfill every year. Which is enough to put you off your sexy new summer wardrobe.

Here is where Circular Fashion comes into play; reducing fashion industry waste and therefore the number of chemicals, water and greenhouse gasses produced when manufacturing fabrics. To give you a further idea of the magnitude of the problem, the fashion industry currently contributes around 10% of carbon emissions globally. This puts it on a par with agriculture.

Using deadstock textiles alone doesn't automatically make a brand sustainable, as the process of creating clothes is not waste-free, but it does help reduce the amount of material ending up in landfill.

Who is actually using deadstock fabrics?

The process is on the rise and upcoming designers are at the forefront of the practise. Emerging designer HRH, who debuted their Autumn Winter 2021 collection at London Fashion Week with Fashion East back in February, aims to use sustainable materials as often as possible. They use recycled plastic bottles for the fabric of their crossbody bags, for example.

Brooklyn based company ' Fabscrap ' is just one organisation taking advantage of this wasteful industry, collecting scrap fabrics from brands and designers and either recycling or redistributing and selling onto other artists, designers and creators.

Womenswear designer Conner Ives, whose fans include Rihanna of all people, uses only vintage and deadstock garments in his collections. Reworking and upcycling clothes to create his bright, patchwork, trademark dresses and t-shirts. The latest Autumn Winter collection features the 'Horse Girl' slip, a beautifully created bias cut scarf dress which includes your very own train that flips up to become a headscarf or shawl - CHIC!

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One of the most exciting new labels, Ahluwalia, works solely with deadstock fabrics.

'At Ahluwalia, we work with as much preexisting material as possible, we work like this because there is already so much that exists on the planet,' designer Priya Ahluwalia tells us.

'We can support the environment by adding value to things that would otherwise be sent to landfill. We also used recycled and organic fabrics. We are not perfect but we are trying our best.'

With so many emerging designers pushing the agenda, it was only a matter of time before the major fashion houses started to take note. This week the Mulberry X Ahluwalia collaboration launched. The vibrant capsule collection of scarves and re-imagined Portobello totes use only repurposed leathers, meaning each piece is available only in super limited quantities.

Shop The Ganni x Ahluwalia And Mulberry x Ahluwalia Collabs Now

Having launched menswear only for her past collections, Priya has also turned her hand to womenswear, launching a capsule collection with everyone's favourite label, Ganni.

'The process of choosing the surplus materials was really led by what Ganni actually had available and how much there was of each style and fabric. Then it was very instinctive, I started to pull the materials I resonated the most with. The key inspirations for the collection was the UK Garage scene, partying with my friends and the female form,' Ahluwalia tells ELLE on the process of getting the collaboration started.

Luxury fashion houses are, at long last, taking sustainable fashion seriously. There is still an enormous way to go, but we're heading in the right direction. As the availability of deadstock fabrics is limited, it means collections are a lot smaller and designers are releasing more capsule collections or made to order pieces. Queen of the nap dress Cecilie Bhansen launched the 'Encore' capsule last year, which uses leftover couture fabrics to create limited runs of dresses. And, for the sixth Encore capsule, available now, the garments will also be made-to-order, available for a limited time only until the last meters of fabric are used. It feels like an ode to the feelings of Cecilie's first collections and cherishes the brand's history.

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For Spring Summer 2021, Valentino collaborated with Levi's in re-editioning vintage styles made solely from upcycled 1970s jeans, each pair reinforced and rereleased with all new patches.

And they're not the only ones; Miu Miu recently announced a collaboration with Levi's, too. This capsule collection sees carefully selected, pre-loved jeans given a new lease of life. Each pair of 501s and tucker jackets are then embellished and decorated, by hand may we add, to give the perfect Miu Miu stamp.

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Well-worn denim has a charm that you just can't get with something box fresh. There is also no real reason to invest in a 100 per cent new pair of jeans when some of the most popular cuts were invented over 100 years ago. Case in point, the imitable Levi 501 jeans, created in 1873. That's right, nearly 150 years ago.

Denim aside, upcycling yarn is also becoming more popular. For the Autumn Winter 2021 collection, Australian brand Zimmermann has reused existing thread for all pieces of knitwear in the collection, while Gabriela Hearst, who showed her first collection for Chloé for Autumn Winter 2021, used upcycled cashmere in her knits and eliminated all synthetic fibres. Alongside the show, the fashion house outlined a series of sustainable objectives that they intend to reach by 2025.

While the use of deadstock fabrics is by no means a catch-all solution to the industry's grim issue of throwaway fashion, it is a step in the right direction. And with recent studies showing that over 50% of British consumers say they would be willing to pay more for sustainable fashion, surely it wont be long before retailers want a slice of the action?

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The Rise Of Deadstock Dressing: Designers Approach Upcycling The Chic Way

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' Sustainability' is, without question, the biggest buzzword in fashion at the moment. But with the threat of 'greenwashing' - using eco and sustainable terminology without doing the work to ensure verifiable benefit to the planet - on the rise, consumers are having to become more savvy about interrogating their purchases.

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1. Peter Semple - CMO of Depop - 9th of March 2021 

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1. Peter Semple - CMO of Depop - 9th of March 2021 

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Give us a brief outline of your job and what are you working on right now? We have 28,000,000 registered users now. Our livelihood is based around the community like sellers with their self-expression. We are helping to grow the second-hand market, we can present that shopping circular is better than shopping new. We are moving into a transitional phase post-covid as a business. Can you please explain how Depop works in terms of its business model? Our business model is intentional simple - we take a 10% fee of every transaction, we don’t have any other revenue streams. We do some collaborations with relevant brands, but it is mainly about the transactional fee we have done since the start. ‘We succeed when our community succeeds’. In 2011, what was the blue ocean strategy identified in the market? What was the process of updating Depop in order to keep up with Gen-Z? Simon had a great eye for talent and creatives, the origins of depot was built on an e-commerce platform for his magazine ‘Pig’. Ebay = red ocean. Marketplace around bubbly community = blue ocean strategy for Depop. Building something as an app also part of the blue ocean. What are the key strategies to communicate that the second-hand market is better than buying new? More people are aware of the choices they are making everyday, but that doesn’t mean sustainability is the predominant driver of purchases. We provide them the access to really interesting inventory. Depop’s unique opportunity is that we can make it cool and aspirational, we broadly want to present how shopping on Depop is different from shopping anywhere else. The unique individuals on the platform speak to their peers and help us to send out this message. It’s the personality-driven fashion that exists within the second-hand marketplace. Constant testing and invention to drive the app - across digital such as social media. Due to covid, have you marketing practices been altered? Our sales increased over the pandemic period - where people were clearing out their closets.

Continued..

11th of February

Could you please tell us more about the market place's business model?

Sure, Depop is been existed since 2011, headquartered in London. 30+ Million users primarily in the UK, US and Australia. Primary audience is Gen Z but we have more clients obviously. Depop business model is a relatively simple one, which is you know, we take a fee of. every transaction done on the platform - 10% fee, very understandable and digestible for our clients and users, thats how we make revenue from the platform and we begun producing methods of how a business like us can produce revenue so we have our own payment service that could be used instead of PayPal for example, to add value to the users and also increase the revenue.

Question: Depop is extremely popular among Gen Z with 90% of active users being under the age of 26. what was the USP and blue ocean strategy that Simon Baker-man identified ion the market in 2011 in order to bring this market place to life? and the second part would be how was the process of updating Depop over the years to stay relevant and successful with today's audience?

Peter: Great questions, and i think the way i would think about these things and i think Simon would say the same if he was here is lots of the decisions you make in business life are good judgement and good observation and good insight of where success may exist in the market and then part is leveraging what surrounds you, theres a little bit of serendipity to a lot of the progresses of business, but when Simon began Depop, he lived in Milan running a fashion and culture magazine, and what he was always brilliant at is interesting cultural conversation connected to an interesting connected audience and the space he saw he looked of what an e-commerce slice would look like by meeting interesting people and interviewing them. the idea for Depop came from thinking around a curated market place driven by an interest in community of creative people, and he definitely had that very idea from the very beginning, in 2009-2010 instagram was beginning to be mainstreamed and he was seeing the dynamics driven by Instagram were a platform for peer to peer influence so people could people could follow and interact. Simon made it about the people that are creative in their own ways- Community first. To the second part about remaining clear to our audience across the time. the business built some leverage by tapping into influencers that leveraged the platform of some platforms like instagram and they were promoting which was driving people back to Depop, in 2015 Gen Z sort of comes of age and is now interacting by purchasing things online, Depop has been created as a face for a community to make their own home for an audience that really wanted to make digital experiences on their own and didn't want to play by the rules of expectations from generations past. and Simon gave the perfect answer to not just consumers but shaped the course of consumers to making it their own by recognising the very young users who are more natural about promoting theirselves, who actually want to find different ways of interacting with their peers, building their own identities, finding economic opportunities and was always thinking about how do you really get close to that community and make sure the business created is tapped in to the needs of that audience as possible because we really are driven by community. There's a technology and there's a new kind of mode of interaction that's happening through social media, what if we brought those things together and champion really interesting product and people, and did it in a way where people could follow them, people could interact with them. That was sort of the perfect answer for what this new generation of not just consumers, but actually, the people shaping the course of the world, it was a place where they could they could sort of make it their own. And I think what Simon did brilliantly, and Maria, who's our CEO, at the time, in sort of the 2014 2015, was to recognise that, wow, there's this sort of grand sort of groundswell of very young users, who are very sort of natural about promoting themselves who actually wants to find different ways of interacting with their peers, influencing their peers, building the in own identities, finding economic opportunity, and more or less for the last seven years, and I've been there for three of them, you know, the journey then becomes Okay, well, actually, how do you really get close to that community audience? And how do you make sure that the business we're creating the technological platform we're creating is as tapped into the needs of that audience as possible because we really are driven by community. They're the ones who have helped expand our reach that we've we've leveraged organic marketing and organic flywheel add great value because you get interesting people to be proud to talk on your behalf.
But in order to do that, you need to make sure you're listening to them lots and that should be very aware of what they need and shaping the business. Per the their changing values and their change needs. And I think one specific example of that, and I think we'll probably get onto this a little bit more in some of the later questions is something like sustainability, for instance, and its impact and you know, 12 years ago, that wasn't really a major consideration, you know, you'd sort of had I guess, several decades by that point, 80s 90s, in the 2000s, of quite excess. And actually, celebrity culture, music culture, a lot of things were about lots and lots of purchasing. And sustainability was not a great part of the discussion back then. And it wasn't really I think Simon had at some inclination of it. But as I say, he set out to build community business. across the course of the years that followed Simon launch and Depop sustainably became much more environmentally aware and much more aware of the impact we have on the planet much more aware of the impact that industries like fashion. And again, like I think it's a really good example of what began as a sort of vaguely natural byproduct of a circular platform that Simon Hurd, created, you know, you see it in hopefully, in the identity and the things that your interactions with Depop. Today, like it's become a very defining part of who we are. And once we started to see, one, this was an important part of the conversation to where business that can actually meaningfully contribute to changing fashion consumption behavior, and three, this is centrally important to our audience, then it becomes less of a Oh, it's a nice to have. And it's a nice kind of endpoint of what we do. But how does it help us drive decision making? How does it help shape, the way we talk about our business, the way that we promote our business, and in fact, of course, the actions we take as a business. So yeah, I have hope that's useful. Let's begin with the community that was the space he saw, stay very close to that community and what they need and continue to evolve, I think, is the very shorthand version of it.

Question: in your marketing role, what are the key strategies for communicating secondhand passion, as the most credible and viable option for consumers instead of shopping? For a new product?

Peter: Yeah, I mean, it's a great, and it's quite a challenging question, because there's still a journey to go on, I think, to make secondhand fashion, as you you've described it, call it the most credible and viable option. I think, the way I think about it, and the way we think about as a business is that we have this sort of unique opportunity, I think, to make secondhand not just the Bible, but you know, as you began to express, like the more desirable alternative to new. And I think we have this unique ability, because we have a really rich and inspiring community and fashion in lots of ways, you know, and you guys are fashion school is it's an immersion, it's an emotional purchase. Like there are rational aspects that can help drive your decision making but you have to kind of be excited by the thing you want to buy, or they're inspired by someone you've seen wearing it or water represents, or, you know, in the secondhand market has real value in things that are worn in or things that were, it might be, I don't know, a rare sneaker or a particular sneaker that's very in fashion right now in a number of different colour-ways that are no longer available, or a vintage t shirt or a band you love. So we're on a journey, I would say, to make it credible and viable. And I think the beginning point of that journey, or at least a very important part is to realise that simply having good intentions and even having an audience with good intentions around sustainable consumption, that isn't enough, because price is still going to be a very driving motivator. You know, convenience in today's world is going to be a very driving motivator. And actually, you know, some sadly speaking, secondhand used to be default, cheaper. You know, there are ultra fast fashion brands now that are selling items of clothing for one and two pounds and it's cheaper than even secondhand could largely be expected to be so you can't win on price. We also might have an issue to overcome in terms of convenience, we're all addicted to and even more. So Post pandemic you know, having delivered stuff delivered to our umber of those things and if you're running a peer to peer market As the purchase needs to go through to the person who owns the thing, who then needs to get to the post office to sell it. So we're probably at least in the current world, unable to compete on convenience and immediacy. So there are key valid key key motivators are saved for purchase. And I think currently, for lots of people, there are people for whom sustainability will be the number one motivator, when currently, sustainability is probably better understood as a validator, like actually, I think most people would like to not buy cheap disposable stuff, they may find themselves doing it for any number of reasons. But they'll probably always feel a bit better if they've made a purchase for something that will have longevity or for something that is circular. So how we think about that, in terms of marketing strategy is, you know, I don't think we'd necessarily win, if we just went out said, you'll be better and sustainable and think that you'll feel better about yourself if you shop on Depop. Because I don't think that's going to be competitive. On its own rate, we have to effectively make it more exciting to shop here. And that needs to be a combination of shop here, because it's peer to peer. And it's small businesses. And it's people like you or people who are inspired by or you're shopping among influencers and celebrities that you you feel a connection with. And so there's a different experience of shopping on a platform like Depop. And in addition to that, we have an incredible breadth of inventory, like whatever you're looking for the cardigan or her jeans or whatever, you know what there's probably 10s of 1000s, if not millions of those things that exist on a platform ID pop or more broadly in the second hand market, so you can kind of find a version of the thing you're looking for. That is also distinct. And I think distinction and uniqueness is compelling. And I think about this, like I've connected sneakers for a very long time, like, we're not a platform for super high value sneakers, I mean, you can buy them on Depop, but not in enormous volume. But if something like the dunk has a resurgence over the last three years, I can guarantee you can find really interesting iterations of the dunk on Depop that people have bought and sold over the last kind of 10 or 15 years that may not be the Virgil Abloh collaboration, but are actually a kind of, you can sort of fit in with the trend of a dunk and find unique one by looking for what's available on the second hand market. And we always drive, you know, And I think you see our marketing, whether it's a paid social ad or kind of TV like ad, it will always be present because we sort of need to build the value of that and consumers minds. So yeah, I think from a from a strategic perspective, one, it's very important to actually realize that even despite the values of our young audience and our values as a business, good intention alone won't make these products necessarily the more desirable alternative. So how else do we compete and distinguish them from new uniqueness as a factor? Peer to peer influence is an interesting factor, you know, a genuine belief like I'm wearing a vintage band shirt here that I'd rather own this, then I think that every other person in my peer set could go and buy from Zara or any number of other places. So we try and balance I think our good intention with the commercial reality of you need to give people lots of reasons to draw them into a new type of consumption behavior.

Question: So as we all know Coronavirus has completely transformed the way we work and amongst other things, and I'm very curious to know what your marketing like how your marketing practices have changed and and if something has changed, why you made the decision to change these things as well as if it is true that you know brands sharing their values is some is a way to connect with consumers if that is something that you know, brands are leaning towards more and how so?

Peter: Yeah, sure. Yeah, I mean, if I think about sort of, you know, the course of my career has been you know, I started doing this 20 years ago and obviously the media landscape has changed enormously and back then we were doing massive you know, TV ads and in retail, etc. And quite what to think, you know, traditional marketing as it were, and then digital media became a thing and social interaction became a thing online. at scale, and my career took me from doing the brand work and break sort of above the line campaign stuff to digital stuff, too.I work for Google for a very long time, doing some product innovation, some marketing innovation stuff. And actually, when I got to Depop, I was sort of, almost like academically fascinated by whether we could never make an ad. And actually, we could find ways to market that actually would just about contributing to cultural conversation, bringing people together in the real world, connecting them with people and experiences, they love

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Can You Tell Real From Fake?

30 July 2014

THE team behind Vestiaire Collective is passionate about all things fashion: the smell of a Fifties Hermès bag (a little musty, but delicious), the delicately aligned pin of a Sixties Chanel brooch, the unlined perfection of a simple Louis Vuitton Speedy. And they are similarly passionate about authenticity.

"We get less than one per cent fakes anyway," Sophie Hersan - head of authenticity and quality control - told us as we toured the quality-control section of the website's brand new Paris headquarters. "But every piece is checked by our team manually, using pictures submitted by the seller, before the piece is sent to us and then checked physically."

Even a fashion editor, and self-confessed vintage fiend, has to bow before the knowledge of the experts in this room. A quick game of "Real or Fake" highlighted some gaping chasms in our vintage knowledge. Isabel Marant's ubiquitous Bekket wedge trainers, Louis Vuitton's super-shiny Epi Leather bag, the once more-It-than-anything Chloé Paddington bag - all of which I was confident of telling real from fake: wrong.

"This serial number looks real," Saloua El Yazid, one of Vestiaire Collective's top counterfeit experts, asserted, "but this model wasn't numbered in this way. And this one has gold hardware with a silver zip, which some people think means it must be fake, but that's actually how the bag was made for the first few seasons."

As well as being checked for authenticity - the team sifts through over 10,000 items per week - the items are also evaluated for desirability (J'Adore Dior vest circa Galliano's reign: want; ripped Forties wool stockings: thanks but no thanks) removing the usual trauma of trawling through vintage keywords on non-curated sites.

Fashion allure aside, the 61 per cent of online-marketplace shoppers who have been duped into purchasing a fake online (and those who still don't know that they have, not to mention the ones who won't admit it), can rest a little easier since 2012 - when the company signed the Fight Against Online Counterfeiting Charter, an initiative by the French government aimed at reassuring customers that what they are buying is authentic.

"If we are unsure, we send pictures to Chanel, or to Hermès, or to Vuitton," El Yazid nodded, "and their in-house experts help us confirm one way or another. Most fakes we come across are well made and look real. But someone always knows the truth."

All the more reason to finally pick up those Chanel pumps you've been dreaming of.

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The experts at Vestiaire Collective can, and you may be surprised at your own lack of knowledge

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In the fifth and final episode of the Vogue Business and OpSec Security masterclass series on brand integrity and authenticity, Bertrand Peyrat, chief supply officer at Vestiaire Collective, joins Vogue Business trends editor Lucy Maguire to discuss Vestiaire’s evolution over the last 13 years to become the largest luxury resale platform in Europe, with over 15 million members.

Vestiaire Collective launched in Paris in 2009, long before the 2020 resale boom. With new developments and customer expectations when it comes to luxury resale authentication, the platform has adapted its service in the last two years to keep up with disruptors in the space.

As chief supply officer, Peyrat oversees all sellers on Vestiaire, from individual sellers to charity shops and luxury brand partners. Goods can now be sent to Vestiaire’s growing network of verification centres in the UK. “Trust is a central pillar of Vestiaire and it has been since its inception. Delivery and returns might be important but authentication is central to building trust,” he says. “If the buyer has any doubt at all, we will always send it to a third party to verify the item so we can guarantee it's authentic and of high quality.”

Vestiaire has a network of authenticators, usually with previous luxury brand experience, who are educated at the Vestiaire Academy. Authenticators complete levels of qualifications, from level one, focused on more premium or mass brands all the way to level three, focused on ultra high-end luxury.

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Episode 5: Authentication and honesty when reselling luxury goods

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In the fifth episode of the Vogue Business and OpSec master class series on brand integrity and authenticity, chief supply officer Bertrand Peyrat explains how Vestiaire Collective is continually improving its authentication to build consumer trust.

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During the coronavirus lockdown, the rental fashion market has slowed. People are going out less, and find ongoing subscriptions expensive.

Rent The Runway, one of the biggest players in clothing rental, has seen customers leave, and has cut staff pay.

But British startup By Rotation, which lets users rent clothes from each other, has grown thanks to its variety of clothes and its social features. Its success suggests the fashion rental market is shifting.

Visit Business Insider's homepage for more stories.

The market for fashion rental skyrocketed during the 2010s. As social media became part of consumers' everyday lives, industry heads capitalized on fast-moving trends and fears of "outfit repeating." Instagram lets others analyze your every move, so people began buying clothes they'd only wear once and then hide at the back of a wardrobe.

Startup Rent the Runway (RTR) posed a question: Why buy an outfit for each big event when you could just rent it instead? Over the past ten years, consumers have continued to answer, and RTR has grown into a billion-dollar company. But during coronavirus, it's lost some of its sparkle - and the success of a new player, based in London, has shown how the market has shifted.

A billion-dollar startup launched in 2009, RTR, which was sustainable and relatively cheap, soon became the go-to place to borrow designer clothing. Similar startups emerged in the UK, the Middle East, and China. In March 2019, Bloomberg called renting clothes "the future of fashion" - in August that year, market investment analysts Technavio predicted the online clothing rental market offer average returns of almost 11% between 2019 and 2023.

But without anyone to dazzle in a rented Valentino gown during the coroanvirus lockdown, consumers retreated to sweatpants and slippers. The market is now expected to decline by nearly half this year. RTR operates on a subscription model, charging $159 a month for unlimited rentals - customers have either been cancelling or indefinitely pausing their subscriptions.

RTR responded by announcing a hiring freeze for the rest of 2020, slashing its marketing budget, and cutting the pay of the leadership team. Another luxury fashion rental startup, Armarium, announced it was ceasing operations on March 7.
Read more... I tried Haverdash, an unlimited clothing rental service that only costs $59 a month - it's like Rent the Runway, but with more affordable brands
Coronavirus is not the only problem. Vogue Business reported earlier this month that for Generation Z, fashion-rental platforms that use a subscription model are just too expensive. The market is moving towards resales: People are buying clothes, wearing them once, and then selling them on platforms such as Depop. Globally, traffic on Depop's website has doubled since April 1. June was its best month ever and the business saw triple digit growth year-on-year - more than 20 new users signed up every minute, on average.

For more evidence of this trend, look across the Atlantic, to where a new rental-fashion startup is thriving. By Rotation is a nine-month-old, London-based peer-to-peer app, where users lend and rent clothes.

It was set up by founder and entrepreneur Eshita Kabra-Davies after she says she saw a gap in the market for peer-to-peer lending. It's part of the sharing economy, which is expected to reach a value of more than $335 billion by 2025.

Users can rent a £450 ($584) Jacquemus "Le Chiquito" bag for £10 ($13) a day. By Rotation now has more than 20,000 users, 60% up since lockdown began, and more than 4,000 clothing and accessories listings from a variety of brands - listings are 50% up. It has gained more than 10,000 Instagram followers during the pandemic.

Kabra-Davies says the reason By Rotation is thriving is, first, because users want a wider selection of clothes than just designer brands (By Rotation has lots of casual clothes, too), and second, because people can make money off more expensive items. One user bought a Jacquemus bag for £200 ($260), and quickly made £70 ($90) back renting it for 10 days.

The company has also built social features to entice customers - it has reviews, much like Airbnb, to track the quality of what lenders are renting out. Kabra-Davies says her team monitors which listings people are most interested in and what styles are being uploaded to the app. They hope to predict trends in the next few years based on the data. And amid growing concern about sustainability, By Rotation launched an "Impact Scale" that calculates how much textile waste and CO2 they save renting any item, rather than buying it new.

It's become part-renting app, part-social network. The company uploads weekly style guides, using past rentals as suggested items for things like a "picnic in the park" or a "Cotswolds staycation." Kabra-Davies says that women who use the app are connecting with each other from seeing their rentals - By Rotation has hosted weekly conversations on Instagram Live, named "a glass of wine with," connecting "rotators" to figures in fashion, discussing why they are moving towards fashion rental. Browsing the app, it almost looks like Instagram, except the items on the pages are the users' own clothes and accessories.

By Rotation's success highlights the ways that the fashion rental market is shifting - and suggests that, for those in lockdown who have no need to dress up, a new friend might be the month's most desired accessory.

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A British clothes-rental startup is thriving during lockdown while others struggle, suggesting the fashion rental sector may have shifted for good

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During the coronavirus lockdown, the rental fashion market has slowed. People are going out less, and find ongoing subscriptions expensive. Rent The Runway, one of the biggest players in clothing rental, has seen customers leave, and has cut staff pay.

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By Rotation, a peer-to-peer fashion rental platform, has raised $3 million in seed funding.

The round was led by Redrice Ventures, with additional participation from Closed Loop Partners, True Global and Magnus Rausing, amongst others. The UK-based company will use the funding to expand its team and prepare for international expansion.

By Rotation was founded in 2019 by Eshita Kabra, a former investment manager who launched the company after wanting to borrow clothes for her honeymoon. The app, which has only been available in the UK, has grown to over 200,000 users.

Unlike businesses like Rent the Runway or Urban Outfitters' Nuuly, By Rotation operates as a marketplace for lenders and renters, and takes a 30 percent commission. The app's top brands are Rixo, Ganni, Zimmermann, Jacquemus and Gucci, and the average order value is £50. By Rotation's annual recurring revenue is over £1 million, Kabra said.

By Rotation's interface has also been built like a social network, which has attracted investors like Redrice Ventures. Users can follow each other to stay on top of rental activity, and can also browse each other's closets - a feature that's made resale marketplaces like Depop and Poshmark popular.

"People are proud of their profile and become mini stylists who can monetise their taste," said Kabra. "And it's quite democratic, where the community decides what's cool."

By Rotation will use its funding to expand into other markets in Europe, and will also launch in certain markets in the US later this year. Within the US, it will compete with fellow peer-to-peer rental startups like Tulerie and Wardrobe.

Investors of all sizes now have their eyes on rental. In December, UK-based rental company Hurr raised $5.4 million in funding, led by the European venture capital firm Octopus Ventures. Last June, Kering invested in handbag rental company Cocoon.

Still, the market is competitive, with Rent the Runway and Nuuly, as well as brands like Banana Republic, Vince and Scotch and Soda using rental platform CaaStle to power their rental services.

In February, fashion rental startup Seasons shuttered and founder Regy Perlera told BoF his startup was struggling with the high costs of buying inventory and managing logistics, despite having raised $5 million. Menswear rental subscription company The Rotation, which offered customers clothes from companies like Heron Preston and Alexander McQueen, also ceased operations last year.

Tom March, founder and managing partner of Redrice Ventures, said peer-to-peer businesses, by contrast, are attractive because of their low overhead.

"Other business models in rental that spend on dry cleaning or holding stock struggle, but if it's peer-to-peer, you have a much lower cost base," March said.

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Rental Platform By Rotation Raises $3 Million

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Investors are eyeing the peer-to-peer model in rental because of its low cost structure.

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Upcycling has been the biggest trend of spring/summer 2021, with the likes of Balenciaga (see the shaggy coat made from ' shoelace fur '), Marni (where patchworked outerwear was created from existing garments) and Coach (note the reworked 1970s bags) all exploring how they can reuse materials. Miu Miu, meanwhile, announced in October that it's launching a new Upcycled collection - an exclusive capsule of 80 one-off dresses, refashioned from antique pieces that have been carefully sourced from vintage stores and markets worldwide.

While young designers such as Priya Ahluwalia, Bethany Williams and Emily Adams Bode have made their names by repurposing textiles that already exist, seeing major luxury brands embracing the practice marks a significant shift within the industry. "The first time we used deadstock and talked about it was in 2017," Gabriela Hearst, whose SS21 collection contained 60 per cent upcycled pieces, tells Vogue via Zoom. "It was like using a bad word: 'You don't say that word in the luxury vocabulary.'"

But the restrictions imposed by the pandemic have led to designers turning to materials they already have to hand in the studio, instead of shipping in new fabrics. JW Anderson recently launched a new capsule collection, Made in Britain, comprising six pieces made purely out of leftover fabrics and trims from previous seasons. "Made in Britain came from this idea during lockdown of creating fashion from what we already had and working locally," creative director Jonathan Anderson, who has also upcycled pieces for Loewe's Eye/ Loewe/ Nature collection, explains. "I think we'll see more and more upcycling in the future."

The devastating effect of excess inventory

It's no surprise that more designers are now embracing upcycling, considering the pandemic has led to an eye-watering €140 billion to €160 billion (£125 billion to £142 billion) worth of excess inventory from spring/summer 2020 collections - more than double the average. In the past, unsold goods would have been burned or thrown away by luxury brands in a bid to preserve their value, as part of a shocking practice that has since been banned in France. As customers become increasingly conscious of wasteful behaviour, it's more essential than ever that the industry addresses this backlog of garments in a sustainable way.

Duran Lantink, who reassembles deadstock garments from brands including Gucci, Prada, and Off-White into new high-end pieces, has seen a rise in enquiries from major retailers and brands looking to collaborate with him since the pandemic began. "There's been a lot of interest," the Dutch designer says via a call from Amsterdam. "It's kind of scary at the moment - it's necessary for retailers to think about what to do with deadstock."

Naturally, eco-minded designers such as Hearst have taken the problem of excess inventory into their own hands. The New York-based designer recently created the exclusive Retro Fit collection for London's Selfridges using existing stock - think reworked cashmere, newly dyed shirt dresses and patchwork bucket bags. "When the stores were hit by the pandemic, we started to think, 'How can we reinvent the inventory that we already have?'" Hearst says.

A new way of working

There are, of course, challenges in factoring in upcycling into the design process. Marine Serre had to completely rethink her production timeline for spring/summer 2021 after realising it was taking much longer to fulfil orders for her upcycled pieces. "We started working on the garments for the SS21 collection in October 2019, making sure we would have had enough time to produce them properly without squeezing production time," the French designer told .

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Upcycling Is The Biggest Trend In Fashion Right Now

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Upcycling has been the biggest trend of spring/summer 2021, with the likes of Balenciaga (see the shaggy coat made from ' shoelace fur '), Marni (where patchworked outerwear was created from existing garments) and Coach (note the reworked 1970s bags) all exploring how they can reuse materials.

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Sustainability has been a big buzzword the past few years; in the world of fashion, reworked and upcycled clothing are another of its many manifestations

For years now, environmental activists have been pointing their fingers towards the fashion industry as a major contributor to pollution and waste. But while it's easy to spew about the usual call to actions necessary to stop—or at least decrease—the impacts of fast fashion, it's a whole different story when it comes to putting those into action.

Fortunately, many young designers, particularly independent ones, seem to have found a new way to reinvent their designs with old material. The answer, to them, is in reworking. The concept behind this method is fairly straightforward. Designers take old pieces of clothing (the word "vintage" has been tossed around a lot here), and redesigning it to create a whole new piece. This could mean cutting it up or adding new elements to it, but at the end of the day, it's all about changing the design to create a distinctly original piece from items that would otherwise go on hiding at the back of your closet.

Reworking Locally And Internationally

A couple of years ago, streetwear blog, Highsnobiety set its sights on Studio ALCH, lauding them for their ingenious reinvention of pieces from Nike and adidas. Have no doubt, these clothes were still recognisably from Nike and adidas—ostensibly still sporting the respective emblems of checks and stripes—but they were also done so uniquely by Studio ALCH that everyone just knew: this was an original creation, at least in its own way.

© 2022 Tatler Asia Limited. All rights reserved.

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Sustainable Fashion 2021: Reworked And Upcycled Clothes On Spotlight

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Sustainability has been a big buzzword the past few years; in the world of fashion, reworked and upcycled clothing are another of its many manifestations

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We're at a unique moment in culture, where the worlds of tech, fashion, art and science are colliding in a more community-driven way. 2031:A Future World The Report shares predictions from thought leaders across these different disciplines and uncovers what our influential Gen Z care about now and in the future.

This report aims to start meaningful conversations about the future and take action in the present. What do Gen Z really care about? What is their vision of the future and how can brands engage with them on a truly meaningful level? We explore the future of identity, entertainment, fashion, commerce and more...
What's inside the report:
01 The Future of Identity

02 The Future of Communication

03 The Future of Content

04 The Future of Beauty

05 The Future of Fashion

05 The Future of Commerce

07 The Future of Brands

08 The Future of Education

09 The Future of Society

10 The Future of our Planet

SIGN UP TO DOWNLOAD THE REPORT

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We're at a unique moment in culture, where the worlds of tech, fashion, art and science are colliding in a more community-driven way. 2031:A Future World The Report shares predictions from thought leaders across these different disciplines and uncovers what our influential Gen Z care about now and in the future.

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Stanley Dunmore:
Allegra Handelsmann:
Filippa Ahnhem:
Olivia Chen
1. How many of you here today have sold your second-hand fashion? Has it been online or offline?
A: Yes, I have.
S: Me too - both online and offline.
F: Me as well.
O: No, I haven't, but I have bought second-hand fashion online.

2. Would you say you are more likely to spend money on replacing a broken garment, or fixing it at a tailoring service?
F: I think it depends on what kind of garment - if it was an expensive jacket that I love then I would spend money on getting it repaired, but if it was just one of my everyday shirts then I would just buy a new one as it is way easier.
O: I personally do not use tailoring services, but if it was made more convenient I would definitely.

3. Do you see the 3R's (Rental, Resell, Repair) being a long-term adoption for the fashion industry?
O: Absolutely, after Covid people's perception on their consumption has changed for good - they are thinking more about how they consume fashion.

4. Out of the 3R’s (Resell, Rental, and Repair), which is your favourite trend from the fashion industry, and why? SD: I would say resell for me because it’s actually the only trend I have tried so far, not the others. so cannot give my full judgement on the other trends.
A: I’d say resell too, I have had things tailored before, but not repaired, and I think I have bought some clothes which used recycled sample materials and fabrics, but I have to say reselling is so convenient - like especially if I want to buy something designer and I know it is out of my price range so I always check online for second-hand deals like on Vestiare or Ebay.
F: I want to try rental for designer items if I have an event coming up - I am very interested to see how it actually can work and how convenient it will be. Otherwise I think my favourite trend would be up-cycling because it is best for the environment. Sometimes a lot of resell is actually not very sustainable as it encourages over-consumption when consumers know they have an option to resell their garments if they change their mind. That is true actually - also repairing items is kind of expensive if it is just cheap clothes.
O: I like the idea of Rental Market although I haven’t done it before either. I would use the service as a try-before-you-buy if I wanted to buy a huge designer piece and was still thinking about it. I think it is a luxury to be able to trial-run how that fashion purchase/investment will add to your wardrobe.

5. Do you support the growth of these trends over the next 10 years time? And why?
F: Totally! I can’t really fault any of the trends because I believe they offer a great alternative way to consumer fashion. I hope people will be more conscious about the way that they shop from now on. I mean consumers are already more conscious after the pandemic, so I expect these trends will be even more relevant in 10 years time.
A: Yes of course. I think I would be a bad person if I said I don’t support the circularity of these trends. But I don’t know how much success and adoption they will have in 10 years time to be honest. The fashion industry is so ever-changing in their trends and we really cannot predict that far ahead. But for sure I support their growth and think they will offer innovation to the fashion industry.

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Valentino's resale rollout is underway. The Italian luxury fashion house is bringing vintage Valentino pieces to four global boutiques this month as part of an ongoing push into resale that's designed to give past collections a new life.

Valentino first launched Valentino Vintage in October, asking owners of vintage items to resell them to the brand in exchange for store credit. Now, those items are available for sale: for a two-week period this June, the house will take over Madame Pauline Vintage in Milan; The Vintage Dress in Tokyo; New York Vintage; and Resurrection Vintage in Los Angeles, to sell off the vintage collection to new customers, according to a brand announcement. Valentino Vintage has been spearheaded by CEO Jacopo Venturini and designer Pierpaolo Piccioli.

More luxury brands are getting directly involved in resale as a way to recirculate old collections and gain new customers. Gucci's Gucci Vault concept also resurfaces vintage house pieces. Other brands have worked directly with resale platforms such as the RealReal and Vestiaire Collective.

Valentino, which is owned by Qatari investment fund Mayhoola, reported a return to pre-pandemic levels in 2021 on full-price sales of accessories, beauty and fragrance. The brand has shaken up its executive suite this year as part of a bigger restructuring: chief operations and logistics officer Giuseppe De Mori and global chief financial officer Alberto Fasanotti joined the house earlier this year, while Alessandra Beretta was named CEO of Europe this week. In April, the company hired Janice Lam to lead its Greater China business. Venturini, who joined in 2020, has been focusing the brand's retail strategy on direct channels; Valentino Vintage extends brand oversight to resale.

The vintage programme is being rolled out in phases. Phase three, according to the brand, will include bringing Valentino Vintage to fashion schools, "where the newest and most original stories are born", according to the statement.

Comments, questions or feedback? Email us at feedback@voguebusiness.com.
More from this author: The RealReal's Julie Wainwright steps down as CEO Amazon Fashion's designer concept Luxury Stores comes to Europe Burberry bets on AR to boost handbag sales

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Valentino Vintage to take over four secondhand stores in NY, LA, Milan and Tokyo

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To receive the Vogue Business newsletter, sign up here . Valentino's resale rollout is underway. The Italian luxury fashion house is bringing vintage Valentino pieces to four global boutiques this month as part of an ongoing push into resale that's designed to give past collections a new life.

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"But the pandemic has only served to
exacerbate inequalities in performance that have
become a persistent theme over recent years." - McKinsey & Co, State of Fashion 2022

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- From renting on formal occasions e.g. wedding dresses, tuxedos, prom dresses
- Started to gain speed in 2019 in less formal dress codes, such as party dresses and designer handbags
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- App service

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- Older demographic with brands such as: Hobbs, Whistles, LK Bennett

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"Eighty per cent of Depop’s active users in the UK are 26 or younger"
https://www.wired.co.uk/article/rent-second-hand-clothes

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One person's trash is another's treasure - and the saying also reflects our current shopping habits. While traditional retail went into freefall last year, the secondhand market experienced fast growth. Now it's forecast to hit $64 billion in the next five years, and will overtake fast fashion, according to data from online thrift store thredUP.

The turnover of London-based peer-to-peer social shopping app Depop - the Gen Z go-to for 90s chunky boots and iets frans hoodies - doubled between April and June 2020. The app, which has 27 million users in 147 countries and was acquired by Etsy for £1.6bn in June, reported that it had 20 new sign-ups every minute in July 2020. Meanwhile, peer-to-peer fashion rental app By Rotation's user numbers have grown by 425 per cent in the year since March 2020.

Gen Z used to shop for low-cost fashion on the high street, now its purchases are made online. Eighty per cent of Depop's active users in the UK are 26 or younger. Paris-based Vestiaire Collective, which raised $216 million in March, has 11 million members and a core customer base between 20 and 40, while the majority of Vinted's users are between 18 and 35.

The rise of circular platforms is a reflection of the unique nature of some of the merchandise as well as a reaction to fast-fashion. Users also see it as a way to make money by selling off their own preloved wares. During lockdown, these apps offered a community, too. Companies set up a space for people to connect with one another, support each other's online shops and rotate clothes with one another.

And there's money to be made outside of Gen Z. Rental sites don't only cater to working professionals, bargain hunters and fashion obsessives - there are startups targeting parents too. Bundlee and thelittleloop are rental services for baby and toddler clothes, while Whirli enables its customers to share children's toys. Kids O'Clock is a platform renting second hand designer clothing for kids. Launched in early 2021, it was founded by former Net-A-Porter and Moda Operandi buyer, Laura Roso Vidrequin, who plans to roll out a rental offering for baby gear, children's clothing and specialist items such as ski-wear from retailers.Such services minimise waste and clutter in the home, as well as saving users money.

"There is no shame in wanting to be smart about our spending. Secondhand is here to stay," says Vidrequin, who also predicts that when Depop customers start having children, they will fuel even more demand for rental retail.

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Rental clothing is the next big retail boom

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One person's trash is another's treasure - and the saying also reflects our current shopping habits. While traditional retail went into freefall last year, the secondhand market experienced fast growth. Now it's forecast to hit $64 billion in the next five years, and will overtake fast fashion, according to data from online thrift store thredUP.

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https://www.eu-startups.com/2021/12/london-based-hurr-bags-e4-7-million-to-take-fashion-rental-to-the-mass-market/

- London-based (Selfridges)
- Started as a pop-up

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Female-founded fashion rental marketplace from London, , has just bagged €4.7 million, empowering women to extend the lifespan of their wardrobes. The funding round was led by Octopus Ventures, which has previously backed other circular economy leaders (including Depop and OLIO), with participation from D4 Ventures and Ascension.

On a mission to redefine fashion ownership, HURR has been pioneering the rental revolution in the UK since its 2019 launch. The company was one of our sustainable fashion disruptors to watch for 2021.

With a vision to make fashion more sustainable and circular, the startup offers shortcuts to having a sustainable and on-trend wardrobe, through renting, monthly refreshes and/or purchasing pre-owned clothing. HURR wants to empower its community to extend the lifespan and usability of its clothes, and look good while doing it.

The retail tech business is certainly providing an innovative development in the move to circular and sustainable fashion.

The young company has built a unique hybrid business model that comprises peer-to-peer fashion rentals, direct partnerships with more than 85 exclusive fashion partners, as well as a recently launched white-label service, which powers rental for leading retailers such as Selfridges Rental.

Not only does the company operate through their online platform, but they also have a physical space in Selfridges London, and this year has also secured a partnership with resale fashion platform Depop.

Victoria Prew, CEO and founder of HURR, said : "I am absolutely convinced that the future of fashion is circular, and we are proud to be at the forefront of this accelerating consumer shift. In the UK alone, customers spend £2.7 billion on outfits they wear just once while more than $400 billion of clothing is discarded across the globe each year - another shocking statistic. As a millennial, I'm part of a generation that loves shared ownership. We've all witnessed the rise of disruptive tech-first businesses such as Airbnb and Uber and if we can rent our houses and cars, why not our wardrobes."

With the fashion industry increasingly moving towards a circular model, the fresh funding boost will be used by the fashion innovators to significantly scale up as it disrupts the trillion-dollar market of women's fashion across the globe.

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London-based HURR bags €4.7 million to take fashion rental to the mass market | EU-Startups

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Female-founded fashion rental marketplace from London, , has just bagged €4.7 million, empowering women to extend the lifespan of their wardrobes. The funding round was led by Octopus Ventures, which has previously backed other circular economy leaders (including Depop and OLIO), with participation from D4 Ventures and Ascension.

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2. Andrea De Santis - McKinsey & Co - 24.05.2022

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2. Andrea De Santis - McKinsey & Co - 24.05.2022

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‘Metaverse mindset’ (SoF) is becoming central, especially to gen-z consumers, more than 7.3 hours played a week.

Do you think NFTs in fashion builds brand loyalty for brands? I think it will track consumer data, but not build loyalty. Will they merge physically and digital currencies? For now they are using NFTs to attract consumers - a lever to sell more clothes, we don’t know if this is going to be a revenue stream yet == this is why MetaCom will wait to see the development and success of our service before introducing NFT concept to our clients in Year 3.

Blockchain - transparency - required from brands who are driving to build up trust with product passports

Cyber resilience - more than 35% of listed fashion brands have had at least one cyber attack which shuts down their systems - cyber crime - data management - imperative to stop leakage

maybe in the future we can extend into social shopping - like DressX - where our pieces are open to be shopped online over the screen or in social apps - this includes more interaction with consumers

the fashion industry in search for customer ownership

Marketplace is becoming imperative (retailers must provide value)

Marketplaces are winning in the fashion industry due to their clear value proposition for consumers and brands

Value proposition for consumers: price leadership, attractive range, customer service, experience, loyalty and ecosystems

Value proposition to fashion brands: access to customers, brand building and perception, operations support, value added service, ease of doing business, price/cost of partnership

Online marketplaces will capture a significant share of growth in the fashion industry

Other brands are using proprietary marketplaces to expand the portfolio offered (like J.Crew and AFound)

Several benefits may arise from joining a marketplace; increase reach and visibility, release inventory, test and learn, customer acquisition

Participation in other marketplaces also presents risks; loss of customer ownership and dependency, cannibalisation and margin erosion (with physical channel), fostering the capability building of a potential competitor

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3. Holli Rogers - Browns Fashion - 13.05.2021

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3. Holli Rogers - Browns Fashion - 13.05.2021

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Can you tell us your pathway to work at Browns and become its chairwomen? What was the trigger that made you work in this industry? Working on the basics of products; what are we here for, how are we trying to engage with the consumer? The shop floor is always the first place to start and looking into the consumers needs and what they are looking for. This led me into a buying path from fashion school in Texas. Its about what you make of the education that you sought out, for me I have never been a planner, and a believer in seizing the opportunity whilst allowing space for things to naturally unfold. I was one of the founders of Net-a-Porter when people said no one will buy 2nd hand luxury but it was great working in a start-up because you can learn so many different things before the business has been built up. 12 years later I took a break before being a CEO of Browns. I never expected to be a chief brand officer at Browns either, but I like everything I have done, none of it is linear. The commonality is that it is a pioneering space I have always moved from. Digitally, do you believe the future of fashion will be exclusively digital such as CGI features? I have just opened a flagship Browns store in London which has been in the works for 3 years and there is integrated technology within the complexities of the store. My experience was strictly online so it was interesting taking on this Browns project which is in-store. It about the access the consumer has to your brand and how you can bring technology into the store space and enabling a connected journey. It also allows us to have visibility over the customer shopping habits: wish list, what’s in stock in the store, etc. For me it’s about engaging people and making them linger, for example we have an ‘immersive room’ with artists and QR codes where you can engage with. Its about what you do with this technology and how you integrate it into your business so that it is meaningful to your customer and your brand. How do you bring online to life in a more offline way? - So that it is not just functional. How can we aspire this space in different ways? I don’t think it will ever take over because you need a balance of both. What do you believe is the greatest concern in fashion in regards to sustainability? I think we approach this topic from a conscious perspective. The position we are in now is to initiate change moving forward, we have learnt a lot in this past year- we thought we had a handle on a lot of things, but there are lots of issues we need to take care of to create meaningful change. We all need to be better; being value-driven and knowing what these values are. It’s not simple and it involves long-term efforts from all of us. We launched ‘conscious’ at Browns 2 years ago and it was hard to find brands that were appropriate for this. Over production - we don’t need to put this much on sale. For me it starts with us as a company. With the opening of Browns East, how was the planning and project management of the innovative store of the future? T he experience being paramount and how to deliver this to the customer with fashion. We wanted it to be inclusive but exclusive at the same time which is why there is a huge door at the front, but also a side door for VIP. We understand the needs of luxury shoppers so we sat down to discuss how we can bring technology and fashion together, what works the right way such as user interface, how could we ease the customer journey, and just testing different scenarios in the store. It took years to get to a place where we felt confident in the connection of the inventory and store experience. What is the statement you wanted to showcase with the opening of the store of the future? It depends on how you view success, you have to think about it in 2. The technology we installed in the store is 100% proving this fact in that people came into the store and used the connected experience and went home and purchased the products and we were able to track this on our system. I think it is important, particularly now, for people to connect and engage with something physical and have the sense of community. We can never forget this element because we are human. What are the main differences between the customers personalities between both London stores? There is a lack of tourism at the moment. This store is so much more exciting than the Mayfair store. If you talk to your local community its a good way to start. I chose Shoreditch because no one expected it, its about the local community rather than the high footfall from tourists. The main thing is talking to people who love fashion and those that live in the area. Are your expectations fulfilled in customers returning to the physical store? To start with we wanted to open just for private clients because of the Covid-19 restrictions in December. It came to April and we realised we have closed for too long because of the lockdown, there was a lot of training to get staff up to speed with the technology in the store.

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Transcript: Today I will talk about the new reality in fashion and luxury, unfortunately we are still in a Covid situation, I will speak on market insights, how we project the market to grow and talk about key consumer trends. Last year we saw a 22% decline in the global luxury market for personal luxury. However compared to 2019, we are already seeing the recovery. We are driven by the strong luxury market in china, but also the US as a surprise. For further recovery - there was stone 19% growth since 2019. But still suffering from the ongoing travel restrictions.

If you look at the luxury market by generation- looking at the Millennials & Gen-Z we predict that by 2025, over 60% of the luxury market will be defined as Gen-Z and Millennials. Those are the 2 demographics which were hit badly by the pandemic, but those ones are also the ones most hopeful about the future. Over time, they have more overall average spend because they have more work time. Repetuated to China after covid - in the next 12 months, repatriation of personal luxury will stay, while experiences will fuel travelling. What we see is personal luxury experiences is still growing more in country of residence due to travel restrictions. When looking at different Geographies, Americans both spend domestic and abroad and regaining their relevance - Chinese are expected to accelerate with respect to pre-crisis. In Europe, it was reported that the luxury consumer was overall likely to spend less because of COVID. Key Consumer Trends - We see that covid accelerated these trends to an unexpected speed. The need for physical stores has decrease because of online shifts. There is a new role of brands delivering experience to deliver online and offline. Shift in sustainability perspective. Re-commerce and re-sale becoming a boost.

- Omni-channel is gaining relevance, we understand the importance of digital presence for luxury consumers -

- Sustainability after the pandemic is an importance for consumer - and for younger audiences as the chart shows.
- Positive purchase criteria - sustainability is more as a hygiene criteria amongst luxury consumers. It is also an important switching criteria.
- We conducted a study with Vestiare last year (2020), where we estimated the global resale market which is set to grow 15-20% growth over the next 5 years. This is a much more dynamic growth from what we had predicted for not only fashion, but the luxury market too. We see this as a very important trend - it is not only marketplaces driving this trend, but also fashion brands are really interested to understand how they can participate by partnering with a second hand market place retailer. All brands want to position themselves in this space.
- TO further understand why consumers are driving this brand we considered their behaviours. We conducted research with Vestiare again back in 2018, to understand the importance and why sustainability is popular. Also affordability - as this trend allows people to buy is at lower price points - provides a good initial touchpoint with potential future consumers who doesn’t have the purchasing power to buy at full price. Other important criteria in shopping second-hand is that it offers choice - there is more of a broad selection of items and brands. Sustainability is an increased driver. Trend & Uniqueness - the ability to purchase limited editions which have been sold out. Fashion consumers expects E2E digital customer journey & convenience.
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