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The RealReal cuts costs thanks to AI

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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. [...]
The online marketplace has deployed its own artificial intelligence tools to put its finances on a more even footing. But using AI is also about surviving in a market where more and more brands are opting to develop their own services for selling pre-owned goods. [...]
Reading time 2 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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