10 figures that illustrate the 2021 resale fashion market

Brands and retailers alike have embraced the resale market, from fast fashion labels launching their own platforms to luxury houses setting their goals toward a more conscious future. Their common point? Using resale initiatives to boost their sustainability credentials – H&M being the latest to do so with a marketplace launching 7 September in Canada as reported by Bof. FashionUnited has gathered the 10 key figures you need to understand the current state of the resale fashion market.

$1.6 billion

Brooklyn-based company Etsy, which specialises in handmade and vintage items, bought British second-hand fashion resale app for $1.6 billion back in June. The sale highlights an ever-growing demand, putting the American company in the spotlight of Generation Z consumers – the ones leading the sales of second-hand items.

33 million

The total number of consumers who bought second-hand apparel for the first time in 2020. The pandemic confirmed a shift in the way people buy clothes and accessories alike: they’re now, more than ever, open to buying pre-owned items. The number of first-time buyers over the last year is testament to it.

65%

Consumers turn to second-hand fashion for many different reasons, whether it be their personal style, budget or commitment to a more sustainable lifestyle. According to a joint report between Bain & Co. and Depop, 65 percent of users choose to buy pre-loved items for the prices, which are – usually – lower than the ones at retail stores.

75%

However, in the same report by Bain & Co. and Depop, 75 percent of the users who were surveyed admitted that the main reason they shopped second-hand was to reduce general fashion consumption. It’s important to note that 90 percent of them were under 25, which highlights a growing awareness in the younger age groups.

101.2 million

The number of clothing items that were sold by retailers in resale shops in the course of the year 2020. Though it seems promising, the downside is that only 560k of all the garments were actually second-hand.

x2

American second-hand online store ThreadUp conducted a report in partnership with market research firm GlobalData, which highlights the state of the resale market post-pandemic. It projected that it’s meant to double in the next five years, reaching a total of 77 billion dollar. Indeed, 188 million consumers have tried reselling for the first time in 2021, compared to 36.2 million in 2020.

$84 billion

The same report by ThreadUp put forward the fact that the resale fashion market is currently growing at a rate that’s 11 times faster than traditional retail. It should be worth 84 billion dollar by 2030, while fast fashion is predicted to be worth about 40 billion dollar. The next decade will therefore see the second-hand market grow much faster than traditional retail, as it’s supposed to be twice the size of fast fashion by 2030.

5 to 7%

Business of Fashion explained in one of its Insights reports that only 5 to 7 percent of resaleable fashion is sold and bought on resale platforms at the moment. It means that there’s an estimated 2.1 trillion dollar of fashion items currently sitting in wardrobes that are not being used.

60%

ThreadUp’s report showcased that 60 percent of the retailers surveyed have or are now open to offering a range of second-hand items to their customers. While consumers seem more and more appealed to previously-owned items, retailers are also more interested in taking part in positive change for the future.

82%

Finally, let’s not forget about another major positive impact: consumers reduce their carbon footprint by 82 percent when they buy used items instead of new ones.

Source: Fashion United

Dua Lipa & Billie Are Fuelling The Appetite For #Regencycore 2.0

Dust off your corset, the second instalment of #Regencycore is here. But it isn’t Bridgerton that has inspired people to dress like a debutante: Dua Lipa and Billie Eilish are the poster girls of RC 2.0.  

Marie Antoinette would surely approve of Dua’s “Demeanor” music video, which was awash with references to the French queen. The singer swapped out her typically kitsch Y2K staples for a wardrobe brimming with frills and bows, masterminded by her stylist, Lorenzo Posocco. He cherry-picked a corset from Jean Paul Gaultier’s iconic spring 1998 couture collection, entitled “Les Marquis Touaregs”, for Dua to wear in the clip, teamed with a full-bodied white skirt. Searches for corsets spiked 43 per cent, while page views for corset tops rose 31 per cent after the release of the video. 

Billie Eilish has also been responsible for the rise; her June 2021 British Vogue cover prompted a 74 per cent surge in searches for corsets. Eilish has since worn styles from Miaou, including its satin Campbell corset that she wore for her Happier Than Ever launch party, and the patterned Figaro Campbell corset she shared with her 88.9 million IG followers back in July. 

Below, Vogue’s edit of the chicest corsets to buy now.

  • Printed handmade corset from 149 available to preoder at Elliemisner.co.uk.1/21Ellie MisnerPrinted handmade corset, from £149, available to pre-oder at Elliemisner.co.uk.
  • Image may contain Clothing Apparel Tank Top Underwear and Undershirt2/21Alexander McQueenSweetheart neckline corset top, £990, available at Farfetch.com.
  • Image may contain Clothing Apparel Corset and Coat3/21Agent ProvocateurSatin corset, £395, available at Agentprovocateur.com.
  • Lace corset 950 available at Vestiairecollective.com.4/21Vivienne WestwoodLace corset, £950, available at Vestiairecollective.com.
  • Image may contain Clothing Apparel and Corset5/21AlaïaAutumn/winter 1991 corset vest, £3,200, available at 1stdibs.com.
  • Sleeveless modal camisole 81 available at Farfetch.com.6/21Maison CloseSleeveless modal camisole, £81, available at Farfetch.com.
  • Image may contain Clothing Apparel and Corset7/21Victoria BeckhamStrapless lace corset, £750, available at Farfetch.com.
  • Image may contain Lamp and Lampshade8/21AreaCrystal-embellished corset, £1,020, available at Farfetch.com.
  • Denim corset top 850 available at Mytheresa.com.9/21BurberryDenim corset top, £850, available at Mytheresa.com.
  • Image may contain Clothing Apparel Swimwear Underwear Lingerie and Bikini10/21KsubiSatin-crepe thong bodysuit, £74, available at Net-a-porter.com.
  • Image may contain Clothing Apparel Diaper and Footwear11/21MiaouCampbell corset in Figaro print, £205, available at Endclothing.com.
  • Vintage silk corset 452 available at Vestiairecollective.com.12/21Jean Paul GaultierVintage silk corset, £452, available at Vestiairecollective.com.
  • Bustier corset top 115 available at Brownsfashion.com.13/21Danielle GuizioBustier corset top, £115, available at Brownsfashion.com.
  • Image may contain Clothing Apparel Lingerie Underwear and Bra14/21GucciGG tulle boned bralette, £520, available at Mytheresa.com.
  • Grosgrain detail lace corset 560 available at Farfetch.com.15/21Kiki de MontparnasseGrosgrain detail lace corset, £560, available at Farfetch.com.
  • Image may contain Clothing and Apparel16/21Dion LeeCropped corset top, £370, available at Farfetch.com.
  • Image may contain Clothing and Apparel17/21Dolce & GabbanaLace detail corset top, £525, available at Farfetch.com.
  • Underwired corset in Italian jacquard lace 365 available at Laperla.com.18/21La PerlaUnderwired corset in Italian jacquard lace, £365, available at Laperla.com.
  • Peplum hem strapless satin top 280 available at Selfridges.com.19/21Rozie CorsetsPeplum hem strapless satin top, £280, available at Selfridges.com.
  • Image may contain Clothing Apparel and Corset20/21SpanxUnder sculpt corset, £150, available at Selfridges.com.
  • Preowned 1970s bustier top 360 available at Farfetch.com.21/21Saint LaurentPre-owned 1970s bustier top, £360, available at Farfetch.com.

Source: Vogue

20 Nigerian fashion designers set for US leadership program

joseph ejiro

NO fewer than 20 emerging and mid-career Nigerian fashion designers have been selected to participate in the International Visitors Leadership Programme, the premier professional exchange programme of the Unites States Department of State.

The virtual IVLP project titled, ‘Promoting Economic Growth and Trade in the Fashion Industry,’ will offer a professional and cultural exchange opportunity on topics, including current trends and successful business practices in the US fashion industry and the reality of marketing and promoting African designs in the United States.

The US Consulate Public Affairs Officer, Stephen Ibelli, in a statement on Wednesday, explained that the IVLP project was aimed at promoting economic growth and trade in the fashion industry.

Ibelli said, “With growing artistic, sports, film, and music ties between Nigeria and the United States, the goal of this IVLP project is to further deepen Nigerian and American ties by adding fashion as another area of growing connectivity between our two countries.”

Source: The Punch