Selfridges has teamed up with premium fashion resale site Vestiaire Collective to open its first permanent retail space dedicated to secondhand clothing and accessories.
The boutique at Selfridge’s flagship store on Oxford Street includes secondhand and rare pieces from designers such as Nicholas Kirkwood, Mulberry, Gucci, and Acne.
While the prices are generally much reduced from their original retail price, such as a pair of Acne jeans being sold for £45, some limited edition and rare pieces are priced a lot higher. For example, a limited edition pair of Nike trainers priced at £910 originally retailed for £120.
Despite these anomolies, Fanny Moizant, co-founder and president Vestiaire Collective says that their aim is to make luxury fashion more affordable and accessible, stating: “Our affordable luxury brands such as Maje and Sandro are at fast-fashion prices when they are resold secondhand.”
The new concession reflects a shift in the fashion industry towards more sustainable practices, and a downturn in consumer demand for cheap and disposable fast fashion.
The secondhand luxury fashion market is predicted to grow 12% over the next 12 months, compared to 3% overall growth for the general luxury fashion market.
Moizant points out: “In the car industry, it is perfectly normal for customers to ask themselves – do I buy new or secondhand? I think in a few years we will have the same mindset around fashion.”