The luxury resale marketplace announced on Thursday that gross merchandise value on its platform totaled approximately $146 million in November, with growth driven by shopping holidays such as Black Friday.
According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.
According to a study by consulting firm McKinsey, buy-now-pay-later services represented six percent of unsecured loans in the United States in 2016, nine percent in 2020 and are expected to rise to 13 percent in 2023.
The Swedish fashion week is back from August 31 to September 2 in a hybrid format combining digital and in-person events. It will open with a half-day conference on fashion, sustainability, technology and innovation.