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Last November, international fashion resale platform Vestiare Collective shocked the apparel industry by banning the trade of ‘fast-fashion’ labels. Wone, who joined Vestiaire Collective in March 2020, said the ban underlines Vestiaire Collective’s founding mission – to drive collective change towards a circular fashion economy.
The resale market is growing 11 times faster than traditional retail and is expected to reach $84 billion by 2030, far eclipsing the predicted $40 billion market for fastfashion. . Consider that 223 million consumers say they have or are open to shopping secondhand products.
Matthew Clarke, commercial property associate at Nelsons who oversaw the transaction alongside partner Riaz Dudhia, said: “White Rose is on a mission to make a more positive impact on the fashion sector and with the rise in popularity of second-hand fashion, the business has been able to progress its ambitious growth plan.
Boasting a large selection of everything from ultra-affordable party dresses to £1 bikinis, this fastfashion e-tailer was the preferred choice of the Love Island cast and everyone who wanted to be on the show or wished to look like those on the show. Missguided was once Britain’s most visited online retailer. Self-inflicted wounds.
The future of fashion: Innovation and impact with Rent the Runway When apparel rental brand Rent the Runway first launched in 2009, the fashion industry was an entirely different beast.
By Tricia McKinnon When you are shopping for a new outfit do you buy new or do you spend your time sifting through racks of clothing in a thrift store? While many people still like the treasure hunt aspect of going to a thrift store some find it more convenient to shop for secondhand apparel online. Looking back on that moment.
“Fastfashion is not free. Someone, somewhere is paying the price.” – Lucy Siegle The fastfashion industry is hardly new, but the recent rise of international powerhouses has sparked new conversations and insights into the industry. But how, and why, are these fastfashion superpowers making so much money?
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