In a bid to become UK’s leader in the resale market, Britain’s Sellier Knightsbridge has acquired fellow luxury resale specialist Worn.
According to the agreement inked with Worn the Worn network of buyers and sellers would be at Sellier’s similar site. It will increase the Sellier user base by around 25 percent.
According to online resale platforms, the secondhand fashion market is set to double in value in the next five years, reaching US$77 billion in the US alone, and could be twice the size of the fast fashion market.
Due to its swift growth, sites such as Depop, Vinted, and Vestiaire Collective have established themselves as leaders in the space, creating communities of pre-owned fashion lovers. Sellier’s has not disclosed the amount it paid for the acquisition of Worn. But the deal is likely to make the buyer the UK’s leading luxury resale firm.
Sellier was founded in 2019. It operates both mortar and Brick stores and online platforms, it opened physical stores in both London and Monaco. The company also enables prospective sellers to upload items they want to sell online, after authentication. The CEO of Sellier believes that consolidation in the resale market helps in growing bigger.
