Catch the highlights of our 2024 Ultra-Luxury Resale Report with FASHIONPHILE Content Specialist Sandiela Dimatulac.
When we launched FASHIONPHILE in 1999, the ultra-luxury re-commerce sector did not exist. But in the last quarter of a century, we’ve served as the ultra-luxury re-commerce pioneer but also as the leader and guide for a new generation of shoppers — ones of all ages, demographics, locations, and backgrounds. New shoppers, for starters, spent 10% more with us this year than last.
Today, as we celebrate our 25th year in business, FASHIONPHILE is at the forefront of creative and technological innovation — from the development of proprietary technology to the incorporation of circular practices throughout the supply chain. FASHIONPHILE has been a pioneer in integrating advanced technology into our business operations.
The numbers don’t lie: In 2023, the global secondhand market was estimated to be worth $197 billion. This value is projected to increase by roughly $100 billion by 2026. But with this larger scale comes a larger host of challenges, like “super fake,” or knockoff designer handbags that can be hard to distinguish from the real thing.
This influx of convincing counterfeits — some of which ring in with four-digit prices — comes on the heels of high-end luxury houses boosting their prices in recent years, leading shoppers to seek out high-quality replicas to cut costs. Take Gucci’s iconic Jackie handbag, which, according to our internal data, saw a 30% price increase YoY on the FASHIONPHILE platform. Other brands saw striking price surges, too, like Goyard (15%), Loewe (15%), Hermes (13%), Fendi (10%), Prada (9%), and Celine (9%).
At FASHIONPHILE, our proven dedication to authenticity is the driving force behind our relentless efforts to educate and empower our customers. For the last 25 years, FASHIONPHILE has set the industry standard in authentication, infusing our best-in-class expertise and accessibility into the largest curation of ultra-luxury pre-owned accessories in the world. As we head into our next quarter-century, we remain committed to equipping our community with the knowledge and awareness to make informed choices and participate actively in the fight against counterfeits.
FASHIONPHILE is more than an ultra-luxury re-commerce destination: Our mission is, and always has been, greater. We’re here to make ultra-luxury accessible to all, ensuring circularity, authenticity, and innovation remain integral to the consumer experience. And we’re only getting started: In 2024, for instance, we added eight designers — Khaite, The Row, Jacquemus, Phoebe Philo, Chrome Hearts, Rimowa, Loro Piana, and Tag Heuer — to our directory.
With that, we’re proud to introduce our annual Ultra-Luxury Resale Report, which highlights the broader happenings within the re-commerce industry from our expert point of view, as well as the emerging discussions that continue to shape the sector at large. From market insights on ultra-luxury investments to trend forecasting backed by data, join us as we dive deeper into the dynamic world of ultra-luxury resale for 2024.
