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What the new agreement between Mytheresa and Vestiaire Collective means

Now that luxury e-commerce bets on vintage

What the new agreement between Mytheresa and Vestiaire Collective means Now that luxury e-commerce bets on vintage

After an initial agreement three years ago to offer Vestiaire Collective's sales service to all top Mytheresa clients in Europe, the two online retail services are expanding the scope of their collaboration, extending the feature to all customers in Europe, the United Kingdom, and the United States. The decision follows the growing demand for second-hand luxury items among consumers, a service that appears accessible on a dedicated page on Mytheresa's website. According to the platform, since the start of the collaboration, customers have uploaded more than 26,000 items to Vestiaire, from ready-to-wear to bags. Starting today, all Mytheresa members will be able to sell branded clothing and accessories on the site, receiving instant credit in return. It won't be necessary to have purchased on Mytheresa to do so.

Mytheresa CEO, Michael Kliger, observed that about 70% of the platform's main clients have used the service in collaboration with Vestiaire, with 40% corresponding to clothing. «They are wardrobe builders and [often] run out of space, so the resale rate has been very organic. It has become a seasonal cycle where people look at their wardrobe and realize they need something new. Their existing clothes might be in excellent condition, but they no longer wear them as often», Kliger added. Similarly, Vestiaire CEO, Maximilian Bittner, stated that the partnership responds to a growing interest from second-hand platform users in items coming from Mytheresa. On average, Mytheresa users upload four items a year on the dedicated resale page, but the most active ones sell a product per week, mostly from the United States.

Before the collaboration between Vestiaire and Mytheresa, other companies have invested in luxury vintage this year. Last April, TikTok Shop raised the maximum sales limit to nearly $5,000 to also encourage second-hand branded items, while the Vinted empire expanded: after launching a collaboration with resale site Rebelle and introducing a verification service, the company recorded a 61% increase in sales. According to Bittner's estimates, the second-hand sector today is worth about $200 billion worldwide and is expected to grow by 15-20% year-on-year.