Mytheresa expands resale service to apparel and shoes

YarnsandFibers News Bureau 2021-10-14 13:32:13 – Germany

The luxury fashion e-tailer Mytheresa and resale platform Vestiaire Collective have expanded their second-hand handbag service to include ready-to-wear and shoes. The partnership, which was first announced in June, allows Mytheresa clients to sell their used handbags through a dedicated web interface, which is managed by Vestiaire Collective.

The initiative allowed Mytheresa's "best clients" in Europe to sell and buy used bags from a list of approximately 20 luxury designer brands in exchange for shop credit. The service has now been expanded to apparel and footwear.

In a joint press release, Mytheresa and Vestiaire Collective, said that both Mytheresa and Vestiaire Collective are committed to expanding out this service to even more Mytheresa consumers in the coming months. For the first time, a multi-brand luxury platform integrates designer resale in a comprehensive approach to promote the transition to circularity as part of the fashion ecosystem.

The two businesses have been pandemic success stories. Mytheresa, a Munich-based company that went public on the New York Stock Exchange earlier this year, had a 36.2% increase in net revenues to 612.1 million euros in the year ended June 30.

Vestiaire Collective, meanwhile, raised 210 million dollars in new capital last month, bringing the Paris-based company's valuation to 1.7 billion dollars.

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