Secondhand luxury might sound like an oxymoron, but there’s no ambiguity around the size of this growing market. At a time where tariffs and price increases are causing headaches for global businesses, this market within a market stands as a bright spot amid increased protectionism or, dare we say it, “slowbalization.” According to a report from the Boston Consulting Group and pre-owned luxury platform Vestiaire Collective, the secondhand market is growing 10% annually and is expanding three times faster than the primary market for luxury goods. The report estimates the value of the secondhand luxury market will hit $360 billion by 2030. Keep reading here.—LI |