Analysis by specialist management consulting firm Bain & Company suggests that the global market for secondhand luxury goods reached an estimated value of €33 billion in 2021.

Milan-based Bain analysts Claudia D’Arpizio and Federica Levato have said the market grew because of an increase in demand but also because of “an increased supply of goods from an expanding arena of players in the segment”.

They said more luxury brands were offering pre-owned bags and other goods because they have realised that extending the lifetime of luxury products is “a powerful way to show their commitment to sustainability”. 

Image: Vestiaire Collective.

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