From one perspective, purchasing second-hand items is a matter of personal interests and preferences. On a deeper level, however, second-hand purchasing—particularly of clothing—produces circular fashion that, in turn, forms a circular economy. Many individuals may have experience with second-hand shopping, but who has ever purchased used items in a luxury department store?
A CIRCULAR FASHION TO DRIVE CIRCULAR ECONOMY
Malls around the world may engage in a variety of sustainable projects. However, we rarely see a luxurious department store that systematically prioritizes second-hand goods. Europe stands apart for its fashion industry and what it values, and is willing to accept responsibility for the negative impact on societies, the environment and the earth. According to the World Economic Forum (WEF), the fashion industry will emit 2.7 billion tons of CO2 by 2030 if retailers continue to operate similarly. As the world’s leading fashion industry, numerous European luxury stores, particularly in Paris, encourage the sale of in-store second-hand items. The WEF statistics also state that 65% of people prefer to purchase pre-owned clothes from trustworthy stores, while 64% of consumers in generation Z and millennials consider sustainable quality when purchasing fashion.
MAKING SECOND-HAND GOODS LUXURIOUS IS POSSIBLE
The mall intends to assist the circular economy by following trends, generating circular fashion, and renewing clothing or commodities for as long as possible. This is to create a sustainable product life cycle. As second-hand goods are already popular in Europe, the mall has an even GREATer opportunity for a second-hand projects. For example, Galeries Lafayette in Paris has recently opened a new space, “Le (RE) Store,” dedicated to second-hand items from many well-known global brands for clients to explore. Nonetheless, the store does not act as a second-hand reseller alone; it becomes a one stop shop for responsible fashion where clients can buy, sell and recycle their items and learn how to take good care of their garments and make them last longer.
Hence, all parties benefit from people who spend on quality products at lower prices. The resurrected clothes are not a waste to the environment, and the mall is still making Profit and taking a stand supporting sustainability and social responsibility. This will serve as a model for other department shops worldwide to initiate a movement to develop GREATer sustainability in all aspects.
#BRANDi #ThinkWithBRANDi #GoodToGREAT #TransformConventionalToSustainableBusiness
Priding ourselves on sharing GREAT insights to society, we will continue to publish FREE content for ALL readers to uplift their knowledge and go from Good to GREAT!