Prada sees second-hand fashion as opportunity, weighs partnerships

The heir to Prada's empire doesn't seem fazed by the future challenges of the ever-changing luxury sector

Italian fashion group Prada sees opportunity in the booming second-hand fashion sector which it can develop both in-house and through partnerships, marketing chief and heir designate Lorenzo Bertelli said. .

The market for pre-owned chic bags and clothes has surged over the last three years, driven by younger, more environmentally conscious shoppers looking for affordable high-end goods. It is expected to reach 33 billion euros ($37.2 billion) in size this year after growing by 65% between 2017 and 2021, according to consultancy Bain. This compares with 12% growth for brand new luxury goods.

Some rival luxury companies are already exploring the sector. 

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