The luxury-fashion sector is experiencing a very important moment of transformation. The covid and the lockdown have, on the one hand, accelerated some aspects such as digitization, omnichannel and, on the other, reduced the potential of globalization and exports. Most likely we are only at the beginning of an epochal change even if consumption will recover for the more well-off population groups who will continue to spend, a cross-cutting "buy less" trend is perceived, well represented by the last Levi's commercial.
Part of this transformation is the reuse of products according to a logic of circular economy. The events that have generated it are certainly the increase in environmental sensitivity, the presence of new generations of consumers, the change in consumption, the personalization of the clothing style, the closets full of unused products and, lastly, the presence of new models of business.
The second life of a fashion product then it becomes a potential merchandise segment real and transversal to those already present.
In reality, the phenomenon is not new: for lovers of real vintage there is a shop in Lugo di Romagna Angelo which is considered the mecca of vintage. Furthermore, for certain products such as luxury accessories (Hermès, Kelly bag) or valuable watches (Rolex, Explorer II first edition) there has always been a resale channel for well-conditioned second-hand products.
Today with the advent of start-ups like Vinted, Vestiaire Collective or TheRealReal the second-life market is taking shape representing both a precise demand and a wide offer.
In addition, for some time now many companies that serve young targets have become very active on recycling themes and reuse: first of all Patagonia, Nike, Uniqlo, Levi, etc.
Similar to this new segment, perhaps smaller in size, there is also the sector of sites that they rent clothing products (Rent the Runway, Drexcode): in this context the operation of is interesting H&M for the first job interview.
So the data is drawn! Both various market giants and new companies are actively striving to extend the life of products that used to be simply piled into cupboards. The very positive sign is the increase of new businesses that are born and develop, as it means that new lymph is entering the competitive system. Conversely, it also indicates that a cultural and radical passage has been made which, for a company, means having changed the main design and planning processes.
“I believe that having land and not ruining it is the most beautiful form of art one could wish for.” Andy Warhol
All the Best!
Cover image, work “The light Canvas” by Mario Merz
