SCS Consulting director Michael Shandler discusses the activity in the resale fashion space.
The Iconic announced its partnership with AirRobe in September this year moving into the fast-growing resale/recycled fashion sector of the fashion and lifestyle industry.
According to a report published by Boston Consulting Group the secondhand market is worth US30-$40 billion per year, with a compound annual growth rate of around 15-20%.
Consumers are tapping into this sector to buy well-known international brands at affordable prices and at the same time helping the planet with sustainability and reducing the dumping of fashion products into landfill.
There have been a high volume of merger and acquisition (M&A) and capital raising activities since the beginning of 2021 in this space.
This is most probably going to continue into the following years as more companies with existing platforms, seek to expand into this market segment either through acquisition, alliances or raising capital to expand their existing offerings.
The table below sets out the transactions since January 2021 this year:
Michael Shandler was the former director and CEO of Kinzu Brands, and was a co-founder and the CEO of footwear label Sol Sana.