In an effort to improve its sustainable practices, UK luxury label Alexander is joining forces with Vestiaire Collective, a pre-loved fashion reseller.
Through the partnership, Alexander McQueen will be joining on as the very first brand to take part in Vestiaire Collective's 'Brand Approved' program, which enables customers to earn store credit when they sell back pieces that have been approved by the label, which will take the item for a buy-back price. As long as pieces are authentic and in good condition, the label is likely to buy them back from the seller.
Vestiaire Collective customers can now browse through its dedicated Alexander McQueen section, where they'll find a variety of accessories and statement clothing pieces.
Circular Luxury Fashion Partnerships
Alexander McQueen is Joining with Vestiaire Collective
Trend Themes
1. Circular Fashion - There is an opportunity for luxury brands to partner with second-hand retailers for buy-back programs in order to reduce waste and improve sustainability practices.
2. Brand Approved Program - Luxury brands can offer their customers incentives to sell back used items by partnering with resale platforms and verifying the authenticity of the items.
3. Pre-loved Fashion Resellers - Resale platforms that specialize in pre-loved luxury fashion offer a market for consumers to buy and sell high-end items while reducing their environmental impact.
Industry Implications
1. Luxury Fashion - Luxury fashion brands can partner with resale platforms to improve their sustainable practices and appeal to environmentally conscious consumers.
2. Second-hand Retail - Second-hand retail is an industry that is growing in popularity due to an increased interest in sustainability and reducing waste.
3. Authenticity Verification Technology - Technology that can verify the authenticity of luxury items will become increasingly important as more brands offer buy-back programs and resale platforms gain popularity.