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Secondhand Fashion and Luxury Set to Reach Up to $360 Billion by 2030; Growing 3x Faster Than Firsthand Market
PARIS, Oct. 9, 2025 /PRNewswire/ -- Boston Consulting Group (BCG) and Vestiaire Collective, the leading global platform for pre-loved luxury fashion, today announced a new collaboration with the release of their 2025 report titled: "Resale's Next Chapter - How Fashion and Luxury Brands Can Win in the Secondhand Market." Based on a survey of 7,800 Vestiaire Collective users, the report reveals that resale already accounts for 28% of their wardrobes—rising to 30% for clothing and 40% for handbags.
- Secondhand fashion and luxury is gaining ground fast, with the global resale market expected to hit up to $360 billion by 2030.
- Growing 10% annually, the secondhand market is expanding 3x faster than the firsthand market.
"Whether seeking desirable pre-loved fashion pieces at affordable prices or pursuing the thrill of the hunt for truly unique finds, resale is now firmly embedded in how people shop and build their wardrobes. Today, it's a deliberate choice," said Fanny Moizant, cofounder and president of Vestiaire Collective, and coauthor of the report.
"With resale now growing three times faster than firsthand fashion and luxury, the market has gone from experimental to essential," said Felix Krueger, a BCG managing director and partner, and coauthor of the report. "Many brands now see it as a key channel for attracting new customers. With Gen Z and other resale-native consumers leading the shift, momentum is only growing."
Why Consumers Buy & Sell Secondhand
Affordability remains a key motivator for consumers to shop secondhand fashion and luxury, with nearly 80% of respondents citing affordability as a top reason for buying. However, consumers are also drawn to resale for:
- Variety of Choice and Uniqueness: Around 55% of buyers strongly agree that the broad assortment and uniqueness of secondhand goods are major motivators.
- Thrill of the Hunt: Nearly 50% of buyers strongly agree that the search experience and interaction with sellers and buyers make resale enjoyable.
- Sustainability: Around 40% strongly agree that sustainability is a key reason for buying secondhand.
On the selling side, the two main motivations remain wardrobe detox (66%) and generating extra income—41% sell to earn money, 44% to fund future secondhand purchases, and 18% to afford new firsthand items.
Gen Z and the US Are Leading
Gen Z is at the forefront of resale adoption, with secondhand items making up to 32% of their wardrobes—rising to 45% for handbags globally, 66% in the US, and 39% in Europe. For eight in 10 Gen Z respondents, resale is a discovery channel for new brands, well above the 66% average.
The US also stands out for resale adoption, but the approach is more value-driven and transactional. Nearly nine in 10 US respondents (87%) cited affordability as a key reason to buy secondhand—11 points higher than in Europe. Americans are also nearly four times more likely to treat resale as a part- or full-time job.
What's Next: Digital Product Passports
While strategic resale models have laid the groundwork for fashion and luxury's future, the lack of interoperable data beyond the point of sale remains a hurdle.
Digital product passports (DPPs) are emerging as a key enabler. Consumers value DPPs, in particular, for authentication (70% when buying, 67% when selling) and detailed product specifications (68% when buying, 64% when selling).
However, awareness is low: 65% of respondents had never heard of DPPs, and an additional 15% recognized the term but didn't know what it meant. This gap presents a clear first-mover opportunity for brands.
"Digital product passports go beyond ticking a compliance checkbox. They are becoming a strategic tool for building trust with customers," said Catharina Martinez-Pardo, a BCG managing director and partner, and coauthor of the report. "They reduce friction for shoppers, ensure authenticity, and create new ways for brands to capture value throughout a product's lifecycle."
"From the very beginning, I envisioned the future of fashion to be circular, where every item could live many lives," said Fanny Moizant, cofounder and president of Vestiaire Collective, and coauthor of the report. "At Vestiaire Collective, we enable brands to embrace circularity, designing fashion with a truly infinite lifecycle, giving customers seamless resale experiences and full transparency, and enabling them to turn wardrobes into dynamic, valuable assets."
Download the publication HERE.
Contact:
Mathieu Boyer
mathieu.boyer@vestiairecollective.com
Eric Gregoire
BCG
gregoire.eric@bcg.com
Download the publication HERE
Secondhand Fashion and Luxury Set to Reach Up to $360 Billion by 2030; Growing 3x Faster Than Firsthand Market
PARIS, Oct. 9, 2025 /PRNewswire/ -- Boston Consulting Group (BCG) and Vestiaire Collective, the leading global platform for pre-loved luxury fashion, today announced a new collaboration with the release of their 2025 report titled: "Resale's Next Chapter - How Fashion and Luxury Brands Can Win in the Secondhand Market." Based on a survey of 7,800 Vestiaire Collective users, the report reveals that resale already accounts for 28% of their wardrobes—rising to 30% for clothing and 40% for handbags.
- Secondhand fashion and luxury is gaining ground fast, with the global resale market expected to hit up to $360 billion by 2030.
- Growing 10% annually, the secondhand market is expanding 3x faster than the firsthand market.
"Whether seeking desirable pre-loved fashion pieces at affordable prices or pursuing the thrill of the hunt for truly unique finds, resale is now firmly embedded in how people shop and build their wardrobes. Today, it's a deliberate choice," said Fanny Moizant, cofounder and president of Vestiaire Collective, and coauthor of the report.
"With resale now growing three times faster than firsthand fashion and luxury, the market has gone from experimental to essential," said Felix Krueger, a BCG managing director and partner, and coauthor of the report. "Many brands now see it as a key channel for attracting new customers. With Gen Z and other resale-native consumers leading the shift, momentum is only growing."
Why Consumers Buy & Sell Secondhand
Affordability remains a key motivator for consumers to shop secondhand fashion and luxury, with nearly 80% of respondents citing affordability as a top reason for buying. However, consumers are also drawn to resale for:
- Variety of Choice and Uniqueness: Around 55% of buyers strongly agree that the broad assortment and uniqueness of secondhand goods are major motivators.
- Thrill of the Hunt: Nearly 50% of buyers strongly agree that the search experience and interaction with sellers and buyers make resale enjoyable.
- Sustainability: Around 40% strongly agree that sustainability is a key reason for buying secondhand.
On the selling side, the two main motivations remain wardrobe detox (66%) and generating extra income—41% sell to earn money, 44% to fund future secondhand purchases, and 18% to afford new firsthand items.
Gen Z and the US Are Leading
Gen Z is at the forefront of resale adoption, with secondhand items making up to 32% of their wardrobes—rising to 45% for handbags globally, 66% in the US, and 39% in Europe. For eight in 10 Gen Z respondents, resale is a discovery channel for new brands, well above the 66% average.
The US also stands out for resale adoption, but the approach is more value-driven and transactional. Nearly nine in 10 US respondents (87%) cited affordability as a key reason to buy secondhand—11 points higher than in Europe. Americans are also nearly four times more likely to treat resale as a part- or full-time job.
What's Next: Digital Product Passports
While strategic resale models have laid the groundwork for fashion and luxury's future, the lack of interoperable data beyond the point of sale remains a hurdle.
Digital product passports (DPPs) are emerging as a key enabler. Consumers value DPPs, in particular, for authentication (70% when buying, 67% when selling) and detailed product specifications (68% when buying, 64% when selling).
However, awareness is low: 65% of respondents had never heard of DPPs, and an additional 15% recognized the term but didn't know what it meant. This gap presents a clear first-mover opportunity for brands.
"Digital product passports go beyond ticking a compliance checkbox. They are becoming a strategic tool for building trust with customers," said Catharina Martinez-Pardo, a BCG managing director and partner, and coauthor of the report. "They reduce friction for shoppers, ensure authenticity, and create new ways for brands to capture value throughout a product's lifecycle."
"From the very beginning, I envisioned the future of fashion to be circular, where every item could live many lives," said Fanny Moizant, cofounder and president of Vestiaire Collective, and coauthor of the report. "At Vestiaire Collective, we enable brands to embrace circularity, designing fashion with a truly infinite lifecycle, giving customers seamless resale experiences and full transparency, and enabling them to turn wardrobes into dynamic, valuable assets."
Download the publication HERE.
Contact:
Mathieu Boyer
mathieu.boyer@vestiairecollective.com
Eric Gregoire
BCG
gregoire.eric@bcg.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
New Report from BCG and Vestiaire Collective Reveals Global Trends Reshaping the Resale Market
Envision doubles down on the renewable energy system with its launch of Dubhe, an energy foundation model shaping the AI energy system.
ABU DHABI, UAE, Jan. 15, 2026 /PRNewswire/ -- Envision, the global leader in green technology, today announced the launch of Dubhe, its groundbreaking Energy Foundation Model, designed to shape the world's largest Physical AI system – the AI energy system.
Inspired by Dubhe, the guiding star of the Big Dipper that has helped humanity navigate by the North Star for thousands of years, the Dubhe Energy Foundation Model was unveiled by Lei Zhang, Founder and CEO of Envision, during the Abu Dhabi Sustainability Week.
Dubhe sits at the core of Envision's Physical AI architecture, analysing vast real-world energy data streams to orchestrate renewable generation, storage, grids, and demand in real time. By unlocking the abundance of renewable resources and driving costs toward near-zero marginal levels, Dubhe enables energy systems to scale in step with AI—addressing the unprecedented energy demands that AI places on global infrastructure.
"For centuries, Dubhe guided humanity through the night sky. Today, Dubhe is the guiding star of the AI era—shaping the AI energy system with a foundation that is infinite, intelligent, and inexpensive, supporting the prosperity of a new civilization." Says Lei.
Shaping the AI Energy System: From Large Language Models to Physical Artificial Intelligence
While large language models have transformed the digital world, Envision believes the next leap lies in Physical Artificial Intelligence—AI that directly governs the physical systems essential to human survival and prosperity.
Dubhe works in tandem with Tianji, Envision's large-scale weather foundation model. Because renewable energy depends on weather, Tianji provides the predictive intelligence that allows Physical AI to anticipate and respond to weather-driven variability, ensuring the energy system operates efficiently and reliably at scale.
"Language models understand words. Physical AI understands the world. Energy is the foundation of all systems." Says Lei. "This isn't just an energy transition. It's a civilizational upgrade, laying the foundation for human prosperity within planetary boundaries."
Strategic Partnership with Masdar to Advance AI Energy System Deployment
Envision also signed a strategic cooperation agreement with Masdar, the UAE's clean energy champion, to jointly unveil the future-oriented AI Energy System.The signing was witnessed by HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, Masdar Chairman, together with Lei Zhang.
Under the agreement, Masdar recognizes Envision as a strategic partner in renewable energy technology sectors, including wind power, energy storage, and green hydrogen, to jointly advance the large-scale deployment of AI energy systems and accelerate the global energy transition.
About Envision
Envision is a world-leading green technology company that provides renewable energy solutions for global enterprises, governments, and institutions. Encompassing three major business sectors - Smart Wind Turbines, Energy Storage, and Green Hydrogen Solutions, Envision collaboratively constructs comprehensive solutions for energy transformation.
Envision has received several accolades for its sustainability performance, including the EcoVadis Gold Medal and the CDP "A-List". It was also recognized in Fortune's "Change the World" list and ranked among the top 10 smartest companies by the MIT Technology Review.
Today, Envision leverages its global network of R&D and engineering centers across the United States, UK, France, Germany, Denmark, China, etc. to continuously lead global green technology development. Envision joined the Science Based Targets initiative (SBTi) and committed to achieving the "Business Ambition for 1.5°C" in 2021. It has achieved carbon neutrality across its global operations by 2022 and will achieve carbon neutrality throughout its value chain by 2028.
For more, please visit envision-group.com.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Envision Launches Dubhe, Shaping the AI Energy System with the World's First Energy Foundation Model
Envision Launches Dubhe, Shaping the AI Energy System with the World's First Energy Foundation Model
