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Prada mulls entry into resale market

By Huw Hughes

Dec. 2, 2021

Business

Image: Prada, Facebook

Italian luxury brand Prada is considering an entry into the burgeoning resale scene, its marketing director and future CEO has said.

“Second hand is a strategy we have been investigating for more than a year,” Lorenzo Bertelli told Reuters.

“I cannot disclose too much but for sure second hand is there. We will take it as an opportunity.

“It can be a partnership with a player or it can be something more in-house, or both of them, a sort of hybrid solution like for e-commerce,” he said.

Bertelli is the eldest son of current CEO Patrizio Bertelli, who earlier this month revealed he plans to relinquish the top job in the coming three years.

He also said at the time that Prada had no plans to link up with any global luxury conglomerates, nor was it seeking a financial investor as it doesn’t need additional capital.

The decision to add resale to its offering would see Prada join a long list of luxury companies tapping into the second hand market which has been fueled in recent years by growing demand for more sustainable fashion options.

Oscar de la Renta and Valentino are some of the latest to jump on the burgeoning trend.