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Stock impact report

Want to buy and sell secondhand luxury? Here's how to do it. [Business Insider]

ThredUp Inc. - Class A (TDUP) 
The secondhand fashion and luxury market is growing three times as fast as the firsthand market, and it is expected to reach as much as $360 billion by 2030, according to an October report from Boston Consulting Group and pre-owned fashion marketplace Vestiaire Collective. Items bought secondhand accounted for 28% of the total closets of the nearly 8,000 people surveyed and 40% of their handbags. Revenue at luxury secondhand retailers like Fashionphile and The RealReal is up in the double-digit percentages so far this year. There are a few reasons for the secondhand surge: Affordability — in contrast to the price hikes from many luxury brands — has attracted buyers in an uncertain market, the proliferation of resale platforms has increased accessibility, and increased guardrails around authenticity have made shoppers more confident. "It's becoming something that's much more sustainable and part of the way people engage in the category," Pierre Dupreelle, a managing director at Show less Read more
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