New Report Reveals The Luxury Fashion Brands You Should Be Investing In Right Now
Trawling through The RealReal’s 2019 Luxury Resale Report feels strangely like peeking into the prefrontal cortex of a thirsty millennial with an iPhone in one hand and a debit card in the other.
It’s a fascinating yet disconcerting read, because it’s highly accurate. At least, as far as my own online browsing and buying habits are concerned, it is.
The report, which was just released, charts data collected from customers and consigners that trade on The RealReal – a luxury resale platform that’s gone from start-up to public powerhouse in what feels like a hot minute (according to The Business of Fashion, the RealReal’s revenues rose 51 per cent to $71 million in the second quarter of this year, after it filed for IPO in June).
There were many morsels of info to be dug out of the (not that we had to do much digging – the interactive interface made finding statistics a breeze) including some particularly interesting stats on the plummet of smartwatch searches, the rise and rise and rise and rise and rise of streetwear searches, in addition to some interesting stuff on the brands dominating both the streetwear and luxury arenas.
Here, we break down and ruminate on some of the report’s most interesting statistics:
Making your first investment purchase? Chances are, it’ll be with Louis Vuitton, Prada or Gucci.
You don’t need to be neck-deep in fashion to know Gucci, LV and Prada are three of the hottest luxury brands right now. But what’s interesting – and what The RealReal’s report expands on – is that the big three are spawning street-friendly collections that are encroaching on the retail territory previously monopolised by strictly streetwear brands – your Supremes, Yeezys and Off-Whites – those guys.Allow this cool Venn diagram to further illustrate our point:
The effect of this being that, when the kids who grew up in streetwear decide they’re ready to broaden their aesthetic horizons, LV, Prada and Gucci (among others) are the brands building a bridge between the two realms.
They’re creating entry-level pieces that aren’t too decidedly fashion (or too outrageously expensive), giving us the chance to take a sip before we drink all of the cool-aid. You following?
Therefore, according to the RealReal, these are the brands youngsters are most likely to make their first investment splurges with.
Don’t invest in a smartwatch. Rather, think long term with a luxe timepiece
You can if you want – who are we to tell you what to do?! But if you’re purchasing your gadget on the premise you’ll be able to resell it for decent dough, you’re probably not going to get a great return according to the report.According to the RealReal, searches for Apple Watches have decreased by 94 per cent year-on-year (yikes!). While interestingly, searches for more traditional timepieces rose by 79 per cent.
Unsurprisingly, the Audemars Piguet Royal Oak and Rolex Day-Date topped the report’s list of ‘Most-Obsessed High-Value Watches.’ Watches in the $30 - $50k ballpark (USD) saw a 126 per cent year-on-year sales growth.
The takeaway? If you’re looking to buy a second hand watch as an investment, make it a well-made, well-known model from a prestigious brand.
Yeezy is the most searched streetwear brand on The RealReal
Flying in the face of rumours suggesting Yeezy sales are drooping, the report found that Kanye’s brand is the most searched of every single streetwear brand it stocks.
It’s followed closely by Off-White in second place, with Nike, Supreme and Adidas rounding out the top five. But if you’re thinking about investing in streetwear, it might be worth your time looking at the brands that have seen the highest growth in searches and sales:
Italian brand Palm Angels recorded a mammoth 1720 per cent spike in searches, while products from the Off-White x Nike collab saw a 1660 per cent rise in interest. So while your Yeezys may still be valuable, buying into hot brands like this could be even savvier.
More people are shopping secondhand because it’s sustainable
In reinforcing news, the report claims that 82 per cent of The RealReal’s customers says sustainability is an important reason why they shop with the platform. Fifty six per cent of consigners (the people, or ‘sellers’ that sell stuff via the site) cite sustainability as a key motivation to consign.
Which is really, really encouraging for those of us who love fashion but sometimes feel like our shopping habits clash with our eco-ideals.
By buying second hand luxury, you’re not only buying an investment that may, one day, be passed on for a profit, but you’re also opting out of fuelling the fast fashion market.
“We’re seeing resale shift people’s shopping habits in the primary market. As shoppers get savvier about how they invest and the impact what they’re buying has on the planet, they’re turning to luxury resale as both a replacement for fast fashion and a barometer of value,” writes Director of Strategic Initiatives at The RealReal, Allison Sommer.
If the luxury investing game sounds interesting to you, be sure to check out the full report, here. Give it a read before making any rash purchasing decisions. Because we’d hate for you to end up with a credit card debt and wardrobe you can’t shift.