The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin bags or Rolex watches to raise cash, as well as a jump in interest from belt-tightening shoppers.
The trend indicates a significant change in China’s $74 billion luxury goods sector, where the second-hand luxury sub-segment has been slow to take off versus other markets such as Japan and the United States due to a preference for newness and fears of unsuspectingly buying a fake. China’s second-hand luxury market is tipped to grow to $30 billion in 2025 from $8 billion in 2020, consultancy iResearch said late last year. New estimates from this year are yet to be released.Office worker Wang Jianing is exploring buying second-hand luxury products, given the economic climate.
Besides ZZER, other top platforms are local names, such as Feiyu, Ponhu, and Plum. Each of them drew tens of millions of dollars in venture capital funds in 2020 and 2021 with an eye to improving authentication practices, widening customer reach and, in some cases, moving from online-only to online-offline models.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Napocor clearance to borrow seen facilitating off-grid PPPs - BusinessWorld OnlineTHE National Power Corp. (Napocor) is authorized to debt-finance its missionary electrification program, including the cost of diesel, which has been rising due to the global fuel crisis, the Energy department said on Monday, citing a legal opinion from the Justice department.
Source: bworldph - 🏆 9. / 68 Read more »
Security Bank donates sculptures to National Museum - BusinessWorld OnlineSECURITY Bank Corp. has donated 14 works by National Artist for Sculpture Guillermo Tolentino to the National Museum of the Philippines on the same day as the newly renovated Security Bank Hall at the National Museum of Fine Arts reopened on Sept. 24. READ
Source: bworldph - 🏆 9. / 68 Read more »
PhilHealth’s road to regaining Filipinos’ trust - BusinessWorld OnlineBoasting an 85% membership rate or having roughly 94 million Filipinos as members, there is no question about how integrated the Philippine Health Insurance Corp. — more commonly known as PhilHealth — is in the lives of Filipinos.
Source: bworldph - 🏆 9. / 68 Read more »
A call to action for water security - BusinessWorld OnlineOur water supply may soon be unsustainable. There is a dearth of clean water in certain parts of our country. The adverse impact of climate change puts pressure on our water security and ultimately on our health, safety, and economy. This is a call to action. It is time to act. Let us secure water for the future.
Source: bworldph - 🏆 9. / 68 Read more »
Agricultural damage from Karding reaches almost P2B, infrastructure at P135M - BusinessWorld OnlineAgricultural damage from Typhoon Noru, locally named Karding, has risen to P1.97 billion as of Wednesday, according to the Department of Agriculture (DA). READ:
Source: bworldph - 🏆 9. / 68 Read more »
Senator vows to consider inclusion of anti-drone tech in PHL defense program - BusinessWorld OnlineSenator Jose “Jinggoy” P. Ejercito, Jr., who chairs a Senate panel handling defense issues, said he’ll consider drone threats in reviewing the Department of National Defense’s budget for next year. READ:
Source: bworldph - 🏆 9. / 68 Read more »