What's going on?
A growing number of young entrepreneurs have found a lucrative niche in the luxury fashion market by selling vintage and archival pieces from high-end designers. These entrepreneurs, many of whom are in their 20s and 30s, have been able to make thousands of dollars by sourcing rare and sought-after items from past collections and reselling them to fashion-conscious buyers.
These young entrepreneurs are leveraging their knowledge of the fashion industry and their social media savvy to source and market these items. Many of them use platforms such as Instagram and Depop to showcase their collections and connect with potential buyers.
They're also smart about investing in pieces they know will sell, based on trends and anticipated demand.
Why should I care?
Traditionally, luxury has been associated with exclusivity and rarity - the idea that owning something that few others have is what makes it luxurious.
However, the rise of young entrepreneurs who are able to source and sell these rare and exclusive items on a larger scale challenges this notion of luxury. As more people are able to buy these once-exclusive pieces, the exclusivity that once made them luxurious is eroded.
This raises an interesting question about what luxury means in a world where these once-rare items are becoming more accessible. Will luxury be redefined to mean something else entirely, or will it become more democratized as these items become more widely available?
Link to full article here.
