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Spotlight | France
The hidden costs of Hermès's model of orchestrated ultra-exclusivity

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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. [...]
Hermès does all it can to ensure its most iconic models remain in short and much sought-after supply.
Hermès does all it can to ensure its most iconic models remain in short and much sought-after supply. © Studio Pachamama
Hermès, which is due to unveil its 2024 results tomorrow, is weathering the crisis in the luxury goods sector much better than its competitors, thanks in particular to its business model, which is based on the rarity of its bags. But the downside of this model, which requires the group to keep a close eye on both its sales staff and its customers, is not reflected in the figures, even though it requires ever greater resources. [...]
Reading time 4 minutes Léo Durin, Noëmie Leclercq

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Houses
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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