// Gucci tops resale charts, thanks to millenials
// Balenciaga saw the biggest annual growth.
// Millenials also kept demand for streetwear high
Gucci has shot to the top of the luxury fashion resale charts as demand for genuine luxury brands as well as upmarket streetwear continues to grow among millenials.
According to the Luxury Resale Report 2019 from luxury consignment platform TheRealReal, Gucci was the most searched brand over the course of the year, thanks to a 78 per cent year-on-year surge in demand.
This figure grew 2.3 times faster among the 18-34 age group than in other demographics.
Hot on Gucci’s heels are Louis Vuitton and Chanel in second and third place, with the former increasing its lead over the latter by 225 per cent.
Prada and Hermès rounded out the top five for most-searched brands.
However, Balenciaga enjoyed the strongest annual growth, with demand skyrocketing 102 per cent year-on-year.
This helped it place 10th on the most-search brands list.
Meanwhile, Dior and Fendi saw demand grow 95 per cent and 94 per cent respectively, placing them seventh and sixth on the list.
“Gucci has successfully created a brand that resonates by reflecting the values of its growing community,” The RealReal chief operating officer Rati Levesque said.
“It’s taken bold stances like going fur-free, driven civic action and supported gender equality.
“That, coupled with bold maximalism that continues to feel unique among a crowded field of luxury labels vying to win with millennials, has established Gucci as the luxury brand for a new generation.”
The report also showed that demand for streetwear continued to be high, with year-over-year growth of 281 per cent – of which 38 per cent derived from 18-34 consumers.
Among streetwear brands, Yeezy was the most-searched, followed by Off-White and Nike in second and third place, and then Supreme and Adidas.