Hottest brands in luxury resale market are…
Gucci reigns supreme in the booming luxury resale market.
That’s according to luxury consignment retailer The RealReal’s mid-year luxury resale report, which charts luxury marketplace trends, bestselling brands and emerging designers. (The report comes on the heels of The RealReal opening its second permanent store.)
The RealReal is on a roll securing a new round of funding.
"Luxury resale has grown exponentially, and is more mainstream than ever,” said The RealReal’s chief merchant, Rati Levesque. “Both the industry and the public look to the resale market to identify macro and micro trends and to determine what consumers want right now. With over 8 million items sold, our data speaks directly to these trends and we're excited to reveal key insights in this report.”
Among the report’s insights:
• Gucci dominates sales growth (62%) and search volume, bumping Chanel and LV from the top spots this year for the first time;
• Gucci reigns supreme across all age groups – especially Millennials: Search for Gucci grew 48% faster among Millennials;
• Hermès is the fastest-growing brand among Millennials, growing 71%;
• Logo bags are increasing in resale value – the Dior Saddle Bag grew by 89% while the Gucci Web grew by 51%;
• Rolex is the top brand purchased by Millennial men; and
• Search for men's fanny packs increased by 614% while search men’s Hawaiian shirts increased by 84%.
View the full report here.
That’s according to luxury consignment retailer The RealReal’s mid-year luxury resale report, which charts luxury marketplace trends, bestselling brands and emerging designers. (The report comes on the heels of The RealReal opening its second permanent store.)
The RealReal is on a roll securing a new round of funding.
"Luxury resale has grown exponentially, and is more mainstream than ever,” said The RealReal’s chief merchant, Rati Levesque. “Both the industry and the public look to the resale market to identify macro and micro trends and to determine what consumers want right now. With over 8 million items sold, our data speaks directly to these trends and we're excited to reveal key insights in this report.”
Among the report’s insights:
• Gucci dominates sales growth (62%) and search volume, bumping Chanel and LV from the top spots this year for the first time;
• Gucci reigns supreme across all age groups – especially Millennials: Search for Gucci grew 48% faster among Millennials;
• Hermès is the fastest-growing brand among Millennials, growing 71%;
• Logo bags are increasing in resale value – the Dior Saddle Bag grew by 89% while the Gucci Web grew by 51%;
• Rolex is the top brand purchased by Millennial men; and
• Search for men's fanny packs increased by 614% while search men’s Hawaiian shirts increased by 84%.
View the full report here.