Europe Second-hand Luxury Goods Market

Market Overview:

The Europe secondhand luxury goods market size reached US$ 16.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

Secondhand luxury goods refer to high-end and premium items that are purchased by the second user. These items commonly include antique furniture, jewelry, artworks, luxury footwear and apparel, bags, watches, etc. Secondhand luxury goods are usually durable with an extended warranty period that makes them suitable for the resale market. In Europe, secondhand luxury goods are generally sold at auctions, charity events, bazaar-style fundraisers, privately-owned consignment shops, online retail channels, etc.

The wide presence of numerous luxury retail brands ranging from fashion apparel to cosmetics is primarily driving the market growth in Europe. The growing demand for high-end clothing, accessories, footwear, etc., at affordable prices, is further propelling the market for secondhand luxury goods in Europe. Additionally, the rising popularity of limited capsule collections and fashion drops have also created scarcity for luxury items, which in turn is bolstering the demand for secondhand luxury goods. Apart from this, the changing socio-economic culture across the European countries coupled with the diminishing stigma on using pre-owned goods is also augmenting the market growth. Moreover, the growing number of online re-selling platforms is further fueling the demand for secondhand luxury goods. These platforms are entering into strategic partnerships and alliances with luxury brands for improving the reputation of secondhand products, thereby propelling the market growth in Europe. Additionally, the emergence of numerous advanced technologies for enhanced authentication procedures and quality checks has provided a safe and reliable environment for the customers to re-sell and buy secondhand luxury goods.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe secondhand luxury goods market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type, demography and distribution channel.

Breakup by Product Type:

• Jewelry and Watches
• Handbags
• Clothing
• Small Leather Goods
• Footwear
• Accessories
• Others
   

Breakup by Demography:

• Men
• Women
• Unisex
   

Breakup by Distribution Channel:

• Offline
• Online
   

Breakup by Country:

• France
• Italy
• United Kingdom
• Germany
• Russia
• Spain
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Fendi (LVMH Moët Hennessy Louis Vuitton), Vestiaire Collective, Harrods Limited, Cartier International (Compagnie Financière Richemont SA), Chrono24, Collector Square, Rewind Vintage Affairs, Audemars Piguet and Chronext AG.

Report Coverage: