Luxury resale platform Vestiaire Collective is to open a physical space in Selfridges Oxford Street on 30 October, which will be in place for a year.
The 40 sqm space has been designed to mirror its website with an accessories wall used to replicate the ever-changing nature of its website. As well as selling pre-owned items from some of fashion’s biggest names, the space will also act as a drop-off point for customers wishing to sell pre-owned items and consult with the in-house curation and authentication teams.
Its opening marks the 10th anniversary of the business, which was founded in France. It is also coming to the end of a physical residency in Parisian department store Le Bon Marché.
The Selfridges store will feature items labelled as “pre-loved” to differentiate them from the new fashion on offer and will also include some rare items such as a red velvet Tom Ford for Gucci suit from the 1990s.
This is not the first time Selfridges has staged a pre-owned fashion installation. A pop-up shop for young fashion resale app Depop has just come to the end of its run.
The global resale or recommerce is one of the fastest growing in fashion and is set to hit $36 billion in 2021 (up from $25 billion last year), according to a recent study by Vestiaire Collective and Boston Consulting Group.
In a study of 2,000 British consumers carried out over the summer by TheIndustry.fashion, some 35% of shoppers said the would shop on resale platforms in a bid to be more sustainable, while 38% said they would shop in a brand or retailer’s own second-hand department.
Called Reuse, Recycle & Rental: how sutainability concerns are shaking up the way we shop, the report is available to paid members of TheIndustry.fashion only.