How 2015's Biggest Fashion Stories Affected Luxury Resale

Alessandro Michele taking over Gucci, Fendi's monster collection and Band of Outsiders's closure all influenced resale shopping habits this year.
Avatar:
Dhani Mau
Author:
Publish date:
Social count:
717
Alessandro Michele taking over Gucci, Fendi's monster collection and Band of Outsiders's closure all influenced resale shopping habits this year.
Alexander Wang takes a bow. Photo: Pascal Le Segretain/Getty Images

Alexander Wang takes a bow. Photo: Pascal Le Segretain/Getty Images

With over 4 million members, 1.5 million items sold and $83 million in VC funding to date, five-year-old online resale site The RealReal is a leader in the (fairly crowded) consignment space, particularly when it comes to luxury brands. Thus, its end-of-year "state of luxury retail" report offers some noteworthy insights into how big fashion industry events — like the ones we exhaustively cover on this site — influence shopping habits.

From Alessandro Michele's successful Gucci takeover to the closure of Band of Outsiders, read on to find out how seven of 2015's most significant events and trends impacted shoppers' habits on the site.

Alessandro Michele at Gucci: The RealReal members had to have "anything and everything Gucci" after Michele took over the Italian house. Sales of the brand's products spiked 60 percent this year.

The '70s: As we've noted, fashion is not over its '70s phase yet, and the long-lasting runway trend had a particularly big impact on denim. For The RealReal, denim sales were up 113 percent, with buzzy brand Frame seeing a 400 percent spike.

Fendi's Monster collection: An expanded range of monster bags and accessories (however "basic") led to a 52 percent increase in Fendi sales this year.

Reed Krakoff's closure: After news broke in March that Reed Krakoff had suspended all future design and production, resale value decreased by 30 percent, while consignment increased 95 percent. Seemingly, people don't want to be associated with a failing brand. It will be interesting to see how this changes if and when the brand's promised relaunch actually takes place.

Alexander Wang leaving Balenciaga: In July, after just under three years at the French luxury brand, New York-based Alexander Wang's departure from Balenciaga was announced. Press surrounding the move focused on the fact that Wang would be directing all of his attention to his namesake line — sales of which increased 15 percent on The RealReal.

Band of Outsiders (sort of) shuttering: After we broke the news in May that Band of Outsiders had laid off staff and cancelled fall orders (which was followed by confirmation that founder and Creative Director Scott Sternberg had left), The RealReal saw a 25 percent sell-through increase, particularly with menswear.

New York Fashion Week: Men's: This year also saw the launch of a dedicated men's fashion week in New York, which The RealReal says contributed to a 30 percent increase in men's consignment.

For more on 2015's biggest fashion stories, head here.