This autumn, Net-a-Porter, Mr Porter and The Outnet will be teaming up with resale technology provider, Reflaunt in an effort to help their customers shop more sustainably.
When it launches later this autumn, customers will be able to sell their pre-loved goods across ready-to-wear, jewellery, bags and shoes.
They will then be paid either directly via a bank transfer or earn an extra 10 per cent by choosing store credit, which they can then spend at the retailer or on another pre-loved item. The retailer will also offer immediate buy-back service for handbags from pre-approved designers.
"The collaboration will draw on Net-a-Porter, Mr Porter and The Outnet’s heritage of unparalleled and personalised customer service and enable shoppers to contribute to a more circular fashion system by reselling and extending the lives of their designer items, as Yoox Net-a-Porter takes the next step in its long-term mission to unlock circularity," the brand explained in a press release.
Net-a-Porter is not the first major luxury retailer to step into the resale market with the likes of Farfetch, Browns, Harvey Nichols and MyTheresa all teaming up with resale partners to offer the service to their customers. Plenty of fashion houses are also getting on board with the growing market, which is predicted to be twice the size of fast fashion by the year 2030.
According to a recent global report – which was conducted by Thredup with analysis by market research firm GlobalData – the resale market is growing at a rate 11 times faster than traditional retail and should be worth $84 billion by 2030, with fast fashion predicted to be worth about $40 billion.
The resale service will launch in October on Net-a-Porter, and in early 2022 on Mr Porter and The Outnet.
You Might Also Like