The resale trend is not going to stop, GlobalData predicts that by 2024 the resale market will have a value of 64 billion, with a growth of 39% from 2019. Just think about how many resale/second hand platforms, especially in the luxury sector, were born in recent years. Some examples are: Lampoo, The Real Real, Vestiaire Collective, Rebag, Grailed and many others…
So why shouldn’t a brand build its own platform? After Valentino, Balenciaga had the same idea and opened its doors to the world of resale. The brand has decided to rely on Reflaunt platform that aims to achieve a circular ecosystem. What is this initiative about?
Balenciaga customers can bring back items of the brand they no longer use, in return they will get a credit to be spent in the various stores or a cash reward.
