What: The Brazilian mall conglomerate acquired 23.08% of in Etiqueta Unica, Brazil's largest e-commerce platform for second-hand luxury goods.

Why it is important: This move not only represents a key avenue of growth for Iguatemi but also a way to appeal to a conscious consumer who is growing increasingly concerned about sustainability.

The transaction secures Iguatemi a purchase option to become a controlling shareholder of the resale site in the next three years.

Founded in 2013, Etiqueta Unica is Latin America’s most prominent luxury resale e-commerce platform, growing 40 percent a year on average. The platform carries over 600 domestic and international labels and over 65,000 products from brands including Gucci, Chanel, Hermès and Louis Vuitton.

Iguatemi acquires stake in resale platform