What does the new agreement mean?

After the initial agreement three years ago to offer Vestiaire Collectivesales service for all the best Mytheresa customers in Europe, the two online retail sites are expanding their collaboration by extending this feature to all customers in Europe, Great Britain and the United States. This decision is due to the growing consumer demand for pre-owned luxury items, and this service is available on a dedicated page of the Mytheresa website. According to the platform, since the beginning of the cooperation, customers have sent over 26,000 products to Vestiaire, from finished products to bags. From today, all Mytheresa members will be able to sell branded clothing and accessories on the website, receiving immediate credit instead. To do this, it will not be necessary to buy on Mytheresa.

Mytheresa CEO Michael Kliger observed that approximately 70% of the platform’s main customers used the service in cooperation with Vestiaire, 40% of which concerned clothing. «They are building a wardrobe and (often) run out of space, so the resale rate is very organic. It has become a seasonal cycle where people look through their wardrobes and realize they need something new. Their existing clothes may be in excellent condition, but they don’t wear them that often anymore»– added Kliger. Similarly, Vestiaire CEO Maximilian Bittner stated that the partnership is a response to the growing interest of second-hand platform users in items from Mytheresa. Mytheresa users list an average of four products per year on the dedicated resale site, but the most active users sell product weekly, mostly from the United States.

Before Vestiaire and Mytheresa’s collaboration, other companies have been investing in luxury vintage this year. Last April, TikTok Store raised the maximum sales limit to almost $5,000 to also encourage the use of branded second-hand products while Vinted the empire expanded: after partnering with resale site Rebelle and introducing a verification service, the company took note sales increase by 61%.. According to Bittner’s estimates, today’s used equipment sector is worth approximately $200 billion worldwide and is expected to grow 15-20% year over year.