Resale marketplace The RealReal’s latest annual report has highlighted a shift towards high-value items during the Covid-19 pandemic, as well as other trends, including the rise of stealth luxury and luxury streetwear.
Interbrand launched its list of the 30 Breakthrough Brands for 2020 on Thursday and a number of fashion and beauty firms are included in the ranking of names that are “set to revolutionise their markets”.
The fashion consignment marketplace announced a net loss of $38.3 million for the first quarter on Wednesday, as restrictions implemented to slow the spread of Covid-19 disrupted the company’s operations.
The online marketplace announced its preliminary Q1 results on Tuesday, reporting an expected rise of 15% in GMV and revealing measures being implemented to deal with the effects of the ongoing Covid-19 crisis.
The luxury consignment marketplace reported a 57% increase in Q4 revenues on Tuesday and announced the upcoming opening of its brick-and-mortar store in San Francisco, as well as plans for a further location in Chicago.
Digital-first resale platform The RealReal has identified maximalism and sustainability as two of the biggest trends on the second-hand fashion market in the 2010s, with Supreme claiming the title of most valuable brand.