Experts share their insights on the sustainable approach luxury brands are taking to ensure their designs live well beyond the current fashion season. From archival gowns reappearing on the red carpet or a handbag making its way to the resale market, brands are reaping the benefits of timeless, durable pieces.
The resale luxury market is booming. Approximately $49.3 billion worth of secondhand luxury products were sold worldwide in 2023, according to Bain & Company. McKinsey is predicting 10-15% annual market growth over the next decade. The dominance of luxury brands in the secondary market reinforces the consumer demand and appreciation for craftsmanship, durability and sustainability. The appreciation for pre-loved isn’t just something we are seeing from consumers – stylists are transforming the red carpet, calling on luxury brands to open up their archives to their celebrity clients. Some of the most newsworthy red carpet moments have been celebrities wearing archival pieces – like Louis Vuitton dressing all their guests in preworn look to the 2022 met Gala to Nichole Kidman wearing her iconic Chanel No5 commercial gown to the Karl Lagerfeld Met exhibit. These moments have fueled our industries interest in designing quality, durable, sustainable pieces that will stand the test of time.
The recent exclusive panel discussion on the Endurance of Luxury featured Sarah Davis, Founder and President, Fashionphile; Cynthia Power, Founder of Molte Volte; Saad Amer, Founder, Justice Environment, United Nations Consultant, and Tiffany Briseno, Celebrity Stylist and founder of Everyday Lords. It was moderated by Sacha Brown, Director of Professional Development, CFDA.
