Mytheresa, the online luxury fashion platform, has expanded its resale service into ready-to-wear and footwear, having first ventured into the market with accessories, in partnership with Vestiaire Collective.
Top clients of Mytheresa are invited to take part in the programme via a dedicated digital interface. After uploading the required information, customers are given a price quote for their pre-loved item, which is then sent to Vestiaire Collective for resale on its global pre-loved luxury platform.
Once the item has been checked and authenticated, customers receive immediate payment in the form of Mytheresa store credit.
The programme was initially launched in June of this year for handbags from a list of 20 designers and was initially open to top clients. As well as broadening into the categories of ready-to-wear and footwear, Mytheresa said it would be offering the service to even more customers in the coming months.
"This initiative marks the first time that a multi-brand luxury platform embraces designer resale in a comprehensive way to reinforce the shift to circularity as part of the fashion ecosystem," Mytheresa said in a statement.
Vestiaire Collective began life as a peer to peer resale platform for luxury fashion but has begun branching out to work directly with luxury brands to encourage consumers to sell their pre-loved items and use the credit to purchase more with the brand.
Earlier this year it announced a partnership with Kering-owned Alexander McQueen and Kering, which also owns Gucci and Saint Laurent among others, subsequently took a circa 5% stake in Vestiaire Collective as part of a £153m financing round. Last month Vestiaire Collective raise a further £153m in a funding round led by SoftBank Vision Fund 2, leading to the platform being valued at $1.7bn.
Earlier this month, Mytheresa rival, Net-A-Porter.com said it too would be entering the resale arena in partnership with Reflaunt. The service will debut in the UK this autumn before being rolled out to the US, Germany, Hong Kong and other territories. Parent group Yoox Net-A-Porter said it would also offer the service to customers of menswear site Mr Porter and off-price site The Outnet from the New Year.
The Net-a-Porter service offers customers the chance to resell items across categories including jewellery, ready-to-wear, bags and shoes with Reflaunt managing the seamless service. Customers can opt to receive store credit (with an extra 10% incentive) or a bank transfer as payment.
Complimentary pickup, digital product authentications, pricing recommendations and photography of the items all form part of the service. In the case of bags, which is the most popular resale category, customers can receive instant credit without having to wait for their item to sell.