in June, Gucci began selling restored vintage via its retail platform Vault and brands from Balenciaga to Simone Rocha partnered with US resale platform The Real Real.
“Generally we believe [resale] is additive for the luxury brands as it allows a new customer base to access the luxury market at a generally lower price point and the proceeds from the seller are likely to be recycled into new products,” says Cochrane. My Wardrobe HQ is a unique platform because 50 per cent of rentals convert into a purchase, says founder Lake. This could set the company apart from other rental platforms like By Rotation, Hurr or Onloan, as rental is often criticised for high volumes of shipping and cleaning between multiple uses.
“The average pair of jeans requires [an estimated] 7,800 liters of water for production,” she says. “If 20 people each buy a pair of jeans this requires 156,000 liters of water. If 20 people rent one pair of jeans and the jeans are washed between rentals the total water cost to the planet is 8,300 liters in total. That's a huge 147,700 liters water saving. ”
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