We recently read in Business of Fashion about the tremendous growth of the secondhand marketplace thanks to brands like The Realreal and Vestiaire Collective. According to this CNBC report, resale or secondhand items is becoming an acceptable gift to give this holiday season. This niche trend in fashion is no longer segmented to a niche audience and has attracted the attention of major department stores. According to the Business of Fashion article on Vestiaire Collective:
"Selfridges joins a growing number of legacy retailers looking to branch into new retail models. In April, Neiman Marcus invested in the space by acquiring a minority stake in Fashionphile; while Nordstrom recently inked a partnership with clothing-rental service Rent the Runway. Within the mass segment, Macy’s recently announced a partnership with resale site thredUP."
This new trend touches upon one of the aspects of the Circular Fashion movement that has been promoted by Dr. Anna Brismar a leading sustainability advisor to companies like: Vestiaire Collective, Make it Last and Filippa K.
What is Circular Fashion?
‘Circular fashion’ can be defined as clothes, shoes or accessories that are designed, sourced, produced and provided with the intention to be used and circulate responsibly and effectively in society for as long as possible in their most valuable form, and hereafter return safely to the biosphere when no longer of human use.
- Dr. Anna Brismar | Circular Fashion
