With increasing disposable incomes, growing rage for e-commerce and an increased number of eco-conscious customers, India’s pre-owned luxury market is witnessing significant growth, as per media reports. Indian buyers can be seen transitioning into sustainable options and the shift is expected to push the pre-owned luxury markets’ rise further.
The current pre-owned luxury market in the country is valued at US $ 618 million and it is predicted to reach US $ 1.56 billion by 2032, at a CAGR of 10 per cent.
The presence of players like Tata CliQ has further accelerated the growth of this segment with its pre-owned luxury sales section. The trusted e-commerce domain launched its catalogue of pre-loved high-end brands like Rolex, Omega, Gucci, and Louis Vuitton. It claims to run rigorous quality checks and claims to provide transparent product information.
Increasing awareness among customers about the environmental impacts of fashion production and over consumption habits play a pivotal role in promoting circular fashion, reducing waste and opting for sustainable alternatives.
