Italian luxury group Yoox Net-a-Porter (YNAP), has partnered with circular solutions provider Reflaunt to enter the second-hand fashion market.
YNAP, which owns Net-a-Porter, Mr. Porter, and The Outnet, announced on Friday that it will start its largest extensive resale pilot to date, allowing users to sell and purchase pre-loved ready-to-wear items, as well as bags, shoes, and jewelry. Customers will receive shop credit for returning their old items, with an additional 10% credit incentive or direct bank transfer if the items are sold.
Net-a-Porter will be the first to use the service in the autumn of 2021, followed by Mr Porter and The Outnet in early 2022. It will be available in the UK first, with the US, Germany, and Hong Kong SAR following at a later date.
Alison Loehnis, president of luxury and fashion at Net-a-Porter, Mr Porter, and The Outnet, said, that more than ever, their customers are looking for fashion that is not just made to survive, but also for ways in which it can be re-loved. YNAP sees re-commerce as a true enabler to plug into a higher product lifespan by extending the lives of pre-loved goods, and the cooperation is an "exciting step" in the company's circular push.
Reflaunt’s co-founder and CEO, Stephanie Crespin said that they have always been impressed by Yoox Net-a-sustainability Porter's efforts and are very happy to be their partner as they embrace resale as a crucial element of their service offering. It's reassuring to see one of the world's leading fashion e-commerce companies join them in taking this good step toward a circular fashion economy.
This is the latest in a slew of announcements by major fashion brands to enter the emerging resale sector, which is being fueled by rising customer demand for more environmentally friendly products.
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