In October of this year luxury retailer Burberry has teamed up with the Real Real , to expand their horizons in the upscale resale market, in the latest move of another luxury brand entering the used clothing arena. Customer who consign a Burberry product on the Real Real will receive a personal shopping session along with tea, at one of Burberry’s store locations reported by CNN Business News.
“Through this new partnership we hope to not only champion a more circular future but encourage consumers to consider all the options available to them when they’re looking to refresh their wardrobes,” said Pam Batty, vice president of corporate responsibility at Burberry.”
Most luxury brands in the U.S.A. have been reluctant to venture into the resale luxury market due to the direct competition with one another for customers. But realizing the environmentally conscious and aspirational millennial luxury shoppers turning more to pre-owned luxury market, are starting to come around.
According to the GlobalData Retail research report, the secondhand luxury clothing market has grown 21 times faster than the apparel retail market for the past three years. The report also forecasted that the resale apparel industry is to grow nearly twice as big from $28 million to $51 billion by 2023. According to the Real Real, the demand for Burberry has risen to 64% year after year the British luxury clothing brand said.
Burberry Vice President of Corporate Responsibility Pam Batty also said in a statement about their sustainability strategy:
“Leading the way in creating a more circular economy for fashion is a key element of our Responsibility agenda,” “We know that the enduring quality of Burberry pieces means their appeal and value is long-lasting.”
Mike Strange: Editor in Chief
Jean Germain: Logistical Executive
Jessica Phillip: Business & Marketing Executive