Mulberry takes a step forward in the second hand market. The British brand has joined Vestiaire Collective’s Brand Approved program (photos from the portal). The resale platform project is simple: brands invite their most loyal customers to put back into circulation used products they no longer use. These items will be sold on the platform.
Brand Approved by Vestiaire Collective
Mulberry is the second brand to join Brand Approved after Alexander McQueen. According to reports by Business of Fashion, the agreement expands Mulberry’s offering, which a month ago started an internal resale service called the ‘Mulberry Exchange‘. A service that allows customers to exchange used items in exchange for credits to spend in-store, or for the purchase of authenticated and restored second-hand pieces. How does it work? Bags are authenticated and assessed in-store, before being sent to the company’s artisans in Somerset to be repaired. The customer gets rid of the bag and receives a voucher for the purchase of a new or used bag.
Mulberry is the latest example of how much luxury is interested in the second hand market. There are different reasons. Resale is interpreted as the brand’s commitment to sustainability. It also offers brands new cash flows, but the possibility too of starting commercial relationships with a new slice of customers. According to Boston Consulting Group, the fashion retail sector is expected to grow by 15 to 20% every year until 2025. And the interest of brands is joined by that of investors. The last step taken in this regard is Kering’s investment in Vestiaire Collective.