Erika Andreetta, a partner at PwC Italy, where she is EMEA Fashion & Luxury Leader, spoke about second-hand fashion at the 30th Pambianco-PwC Fashion Summit held yesterday in Milan.

“Second-hand fashion is becoming an increasingly significant market. In 2024, it generated a global revenue of $227 billion, a 15% increase over 2023, and it is expected to grow by another 10% this year,” said Andreetta.

Andreetta remarked that the market for second-hand fashion “is growing three times faster than that for traditional fashion.” She added that “this market is driven primarily by the new generations. By 2029, we estimate that its annual growth rate will be 10%, reaching a revenue of $367 billion.”