Uncover the Secrets of the Preloved Fashion Revolution

Industry Insights on the Preloved Fashion Boom

According to Kathleen Talbot, chief sustainability officer at Reformation, the increasing interest in preloved pieces can be attributed to three main motivators. Consumers are more aware of their environmental impact and are looking for affordable ways to get dressed. Shopping secondhand has become a fun treasure hunt, and the thrill of finding something special is undeniable. Talbot also emphasizes the importance of circularity in fashion and how resale is a key example of taking responsibility for our stuff.

Reformation's introduction of a resale program in partnership with Poshmark shows the company's commitment to sustainability. By allowing customers to resell their pieces, Reformation is not only reducing waste but also providing a new avenue for consumers to engage with their brand. This move is part of Reformation's overarching sustainability mission, which includes offering eco-conscious solutions from production to end-of-life.

Investing in Your Closet with Resale

Courtney Watkins, owner of Mine & Yours, highlights the financial benefits of resale. More people are investing in their dream wardrobes by letting go of the pieces they don't wear and selling them for cash or store credit. Mine & Yours offers competitive payouts for designer fashion and accessories, and Watkins notes a marked shift in the perception of preloved items, especially at a luxury price point.

In economic downturns, people are becoming more mindful about spending and looking for ways to get the most value out of their wardrobes. Selling used luxury items is a great way to unlock that value and put it toward something else. According to a 2023 report from PayPal, 50% of Canadians polled said they have found selling unwanted items a "good supplement to their primary income."

The Secondhand Boom Beyond Luxury

Riaz Khan, co-founder of the Granville Flea Market, points out that the interest in shopping vintage is becoming ubiquitous. Gen Z Canadians are particularly keen on buying preowned goods, with 42% of them polled noting they do so more than once a month. Khan and his team are opening a new shop called Arrival Vintage in North Vancouver to meet the growing demand.

The items at Arrival Vintage are carefully curated to feature in-demand and trending pieces from the 2000s. Jerseys and vintage team sports items are flying off the shelves, showing that the demand for vintage goods extends beyond luxury and womenswear. Khan emphasizes the affordability and unique feel of these items, which draw in a lot of resale fans.

The Most Sought-After Luxury Brands at Resale

When it comes to resale, some brands hold more value than others. Watkins shares her insights on the five most in-demand and best investment brands. Chanel, with its iconic bags and ready-to-wear pieces, is always at the top of the list. Louis Vuitton's monogrammed bags and accessories are consistently popular, as are Hermès' Birkin and Kelly bags. Gucci's bold designs and modern takes on classics are a favourite among fashion-forward clients, and Christian Dior's elegant and sophisticated designs, especially the Lady Dior bag, are always in demand.