Lorenzo Bertelli, the eldest son of Patrizio Bertelli and Miuccia Prada and future CEO of the family business, declared that second hand is a strategy that Prada has been studying for more than a year.
I can’t reveal too much
but the second-hand one is certainly there. We will take it as an opportunity
It could be a partnership with a player or something internal, or both, some sort of hybrid solution, like for e-commerce
Some luxury companies are already exploring the sector. Earlier this year Kering acquired a 5% stake in the specialized platform Vestiaire Collective and in 2020 the flagship brand Gucci partnered with The RealReal platform.
Consulting firm Bain has predicted second-hand luxury will hit 33 billion this year, after growing 65% between 2017 and 2021.
This compares with a 12% growth for new luxury goods.
Bertelli also reiterated that he wanted to keep the family-controlled group independent, when he takes over in a few years, and did not seem worried about the future challenges of luxury, which is constantly evolving.