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Spotlight | France
How second-hand sales send Hermès bag prices soaring

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“Brands brave the Wild West of the second-hand market”
France, United Kingdom, United States

Brands brave the Wild West of the second-hand market

The second-hand market is exploding, leaving the luxury sector with a new battle on its hands. Between platforms that lack transparency, counterfeits that are impossible to detect and brands that are scrambling to regain control, the absence of regulation is benefiting the most agile.But with the luxury sector in the grips of a crisis, brands are less and less willing to see second-hand platforms reap the profits from reselling their products. Beyond its eco-credentials, preloved fashion also shifts the parameters of prestige: luxury houses have long made scarcity a strategy, but today the rarest pieces are not necessarily found in their boutiques. [...]
Among Hermès bags, the Birkin and Kelly models are very popular on luxury consignment platforms.
Among Hermès bags, the Birkin and Kelly models are very popular on luxury consignment platforms. © Studio Pachamama
Manufactured in limited quantities, Hermès's most sought-after bags are at the core of a resale system orchestrated by second-hand luxury retailers, which sell brand-new items as if they had been pre-owned. That practice distorts the market and ramps up prices. [...]
Reading time 5 minutes Noëmie Leclercq

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Entourage
Read this article in our running story
“Brands brave the Wild West of the second-hand market”
France, United Kingdom, United States

Brands brave the Wild West of the second-hand market

The second-hand market is exploding, leaving the luxury sector with a new battle on its hands. Between platforms that lack transparency, counterfeits that are impossible to detect and brands that are scrambling to regain control, the absence of regulation is benefiting the most agile.But with the luxury sector in the grips of a crisis, brands are less and less willing to see second-hand platforms reap the profits from reselling their products. Beyond its eco-credentials, preloved fashion also shifts the parameters of prestige: luxury houses have long made scarcity a strategy, but today the rarest pieces are not necessarily found in their boutiques. [...]

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