Vestiaire Collective: Men driving growth in the luxury secondhand market
70 percent of men now state they buy their clothes with resale in mind. This figure_ from a report published by the second-hand platform Vestiaire Collective_ reflects a market whose growth appears unstoppable. Having become a common practice for many women_ purchasing second-hand clothing is now also appealing to men.
Although the Vestiaire Collective platform already offered pre-loved menswear_ it has now announced it is strengthening its offering with a dedicated men's fashion category. This includes visuals designed for men_ tailored recommendations and a bespoke experience.
“Menswear is now establishing itself as one of our most dynamic segments_” stated Maximilian Bittner_ the company's chief executive officer_ in a press release. “Men are fully participating in the luxury second-hand market; they are seeking exclusivity_ access to luxury at fairer prices and resale potential. This launch consolidates our multi-category strategy and allows us to capture a major market opportunity.”
On its site_ Vestiaire Collective has observed that one in five purchases are now made by men. The offering has consequently grown by 88 percent in three years. Similar to women_ men recognise the value for money and the pleasure of finding unique pieces in second-hand fashion.
Who is the male second-hand buyer and what does he purchase?
The typical male Vestiaire Collective customer is generally younger than the female clientele_ with 59 percent belonging to the Millennial or Gen Z generations. He primarily purchases clothing and very few accessories. The 'Sneakers' category accounts for only 10 percent of listings for men.
For men_ purchases are therefore focused on ready-to-wear_ but trainers and watches also capture significant attention. Louis Vuitton bags and trainers_ as well as Rolex watches_ are the most viewed items on the platform_ just ahead of Moncler jackets_ Nike trainers and Gucci bags.
Furthermore_ a difference in nationality is observed between the men who buy and those who sell. While sellers are often Italian (31 percent)_ French (19 percent)_ or British (9 percent)_ buyers on Vestiaire Collective_ besides the French_ are predominantly from the US or Germany.
Besides Prada_ Louis Vuitton and Gucci_ the potential Vestiaire Collective buyer also keeps an eye on more niche brands and specialised collaborations. These include the Adidas x Wales Bonner and Moncler x Palm Angels collaborations_ as well as brands such as Tudor_ Baldinini_ Chrome Hearts_ Denim Tears_ On Running and The Row.