THE ULTIMATE PRE-LOVED TREND REPORT 2023
With luxury fashion increasingly seen as a lucrative investment opportunity for shoppers, paying attention to trends in the designer resale market has never been more important. From the rising demand for more affordable brands like Bottega Veneta and Prada, to quality vintage tailoring enjoying a renaissance, here is what to buy and sell in 2023.
Resale Reigns Supreme - Continued Interest & Overall Growth of the Market
Coming as a surprise to no one, it’s official - luxury resale continues to reign supreme. Luxury products are increasingly viewed as assets, improving the incentive for consumers to invest. More and more shoppers are reselling luxury accessories for a profit.
Handbags tend to be the highest earners with prices of high-end bags on resale platforms increasing over the last three years, selling for, on average, over 70% of their retail value. So, the general consensus is to ditch gold and stock investments in favour of vintage luxury finds.
“The general consensus is to ditch gold and stock investments in favour of vintage luxury finds.”
Rising Demand for More Affordable Luxury Brands
By now, the investment potential of ultra-high value brands like Hermès and Chanel is well known. But with increasing numbers of consumers eager for the chance to invest in luxury, more affordable labels are experiencing a surge in demand. Sales of Bottega Veneta, Prada, Dior, Burberry, Miu Miu and Valentino have increased in the resale sector over the last three months and are expected to continue growing in 2023.
The interest in luxury from Gen Z is growing with the generation expected to make up 70% of luxury brand purchases by 2025. Gen Z also prioritises sustainable shopping habits, paying close attention to the life cycle of the products they purchase. Along with millennials, the age group are the largest drivers of the luxury goods market.
So what are Gen Z buying? Gucci, Louis Vuitton and Prada are among the most popular brands for younger luxury shoppers and canvas and nylon styles from these labels at more affordable price points prove great starter handbags, especially on the pre-owned market. LV vintage and Gucci pre-loved designer bags are always popular with younger crowds.
“Gen Z expected to make up 70% of luxury brand purchases by 2025.”
Fashion of the late 2010s and early 2020s has been typified by revival trends, most notably the Y2K phenomenon, and a huge part of this is thanks to handbags. From the Dior Saddle and the Fendi Baguette to the Balenciaga City and Louis Vuitton’s Multicolore Monogram range, accessory lovers have shown major interest in popular designs from the past and this has fueled luxury resale’s growth tremendously.
But as Y2K mania slows, we’re not seeing love for vintage bags decline. Instead more and more retro hand-held treasures are enjoying heightened popularity. Up next on fashion’s vintage watch list are spacious totes, a favourite amongst the 2010s style set, oblong silhouettes, bowling bags and vividly hued designs. Keep an eye out for the YSL Mombasa, Celine Luggage Tote and Gucci Horsebit Clutch
Back to Business - Growing Demand for Vintage Couture-Quality Tailoring
Fashion is embracing the post-pandemic desire to get formal and luxury resale is following suit - literally. Designer consignment is seeing a growing demand for vintage couture-quality tailoring. Think Tom Ford-era Gucci, Karl Lagerfeld vintage Chanel tweed suits and Prada’s signature sharp tailoring from the 1990s.
Sales of vintage are up. A big part of this is a growing demand for timeless classics, including vintage tailoring boasting the couture-level quality associated with retro suiting.
Vintage & Archival-Inspired Jewellery
Pre-owned jewellery has been gaining popularity for a while and its demand is increasing. Vintage designs and pieces inspired by archival favourites are expected to be the standout jewellery styles of 2023. Think pearls, which saw a sales increase of 115% between Q3 and Q4 of 2022, as well as coloured stones.
Alessandro Michele’s Gucci Designs
Alessandro Michele’s sudden departure from Gucci as the brand’s Creative Director in November of 2022 shocked many in the fashion community. Italian designer Sabato De Sarno has since been announced as his replacement but sadness over Michele’s exit remains. The designer is credited with reinventing the heritage label, repopularising the house’s classic motifs and spearheading an androgynous movement within high fashion. Many of Michele’s designs are expected to become collector’s items. Watch out for the Dionysus bag along with the visionary’s signature bold ready-to-wear tailoring and whimsical prints.
At Rewind Vintage Affairs, we pride ourselves on offering pre-loved designer bags that are in immaculate condition. But with growing numbers of consumers wanting to buy into luxury brands, second hand vintage bags with a little more wear and tear at more affordable price points are becoming increasingly sought after. Dubbed ‘beater bags’, these styles display obvious signs of wear, often having marks and scuffed corners owing to extensive use.
But despite looking far from new, demand for beaten-up pre-owned luxury bags is rising, with many financially-conscious shoppers using bags that are in a fair condition as a more affordable alternative to designs that are less worn. Since early 2022, interest in bags with a fair condition has risen. The average price for a fair condition piece is considerably less than the same style in a better condition on resale platforms, making pre-owned designer bags in inferior condition great starter bags for luxury shoppers on a budget.
From the runways in Paris to the stylish streets of Tokyo, interest in menswear is growing. With a focus on tailored classics and streetwear staples, menswear makes an investment-worthy option for luxury resale shoppers. With a growing assortment of menswear favourites available to buy on the secondary market, the investment potential of men’s styles is growing. The likes of Burberry, Louis Vuitton, Gucci, Off-White and Tom Ford are proving particularly popular.
Sneaker culture and the newly found cult appeal of top labels’ menswear divisions play a huge role in the growth of second-hand men’s fashion. Also, thanks to menswear’s reliance on timeless silhouettes and classic styles, buying and selling investment pieces on the secondary market is easy. Shoppers are favouring loafers, cult-favourite trainers, trench coats and sharp suiting for 2023.