It's just like a real estate fund. I mean, we're buying brand new Birkens and Kelly's. We are um you know, putting them in a portfolio. We have a whole portfolio construction methodology.We're using most of the breadandbut bags that are flipping over fast. And um we're then selling them and we're selling them both on digital marketplaces. So, Sbee's first dibs, my Gemma, um Christies has just did an auction of a pink crocodile.And we're also selling them in real life experiences. experiences are all the rag ...

Money that should have mitigated flood damage in the Philippines was instead spent on Hermès bags and luxury cars. Here's how the scandal unfolded. https://t.co/Qwhdwnu4ZH ...

Core Insights - The global resale market for fashion and luxury items is growing at an annual rate of 10%, significantly outpacing the firsthand market, and is projected to reach $360 billion by 2030 from approximately $210 billion today [1][11]. Market Dynamics - Trust and authentication are becoming critical as counterfeit manufacturing becomes more sophisticated, with even luxury brands sometimes unable to detect fakes [2][4]. - The secondhand market has traditionally operated under "caveat emptor," emphasizing the need for buyer vigilance [4]. Authentication Efforts - Resale platforms are investing heavily in verification processes to combat the rise of "superfakes," with companies like Carousell opening physical stores for luxury items to provide grading services [5][6]. - Carousell has developed a proprietary database covering nearly 500 product styles, ensuring that higher-valued items undergo multiple checks before listing [9]. - Bunjang claims a 99.9% authentication accuracy rate, utilizing a combination of visual inspections and AI trained on extensive data [10]. Business Impact - Verification processes have positively impacted sales, with Bunjang reporting that luxury goods account for over 25% of its $1.1 billion annual gross merchandise value, with a 30% year-on-year increase in transactions for luxury items [11]. - Carousell has experienced strong growth in its luxury segment, leading to the establishment of its first physical store [11][12]. Consumer Trends - Affordability is the primary motivation for purchasing secondhand luxury items, cited by 80% of respondents, but there is also a growing interest in rare or discontinued collections [13][14]. - Younger consumers, particularly Millennials and Gen Z, are reshaping the luxury market by preferring to buy, enjoy, and quickly resell items, indicating a fundamental shift in engagement with luxury goods [16].