Resale market tripled in two years
What: Boston Consulting Group and Vestiaire Collective report the impact of the secondhand fashion and luxury market.
Why it is important: BCG and Vestiaire Collective estimate the value of the apparel, footwear and accessories resale market is between 100 and 120 billion dollars worldwide which is triple the size it was in 2020.
The report further states that the secondhand market is already worth 3 to 5% of the overall apparel sector which could grow to as much as 40%.
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