Neiman Marcus moves into the secondhand market

Erika Beras Apr 17, 2019
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Scott Olson/Getty Images

Neiman Marcus moves into the secondhand market

Erika Beras Apr 17, 2019
Scott Olson/Getty Images
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COPY

Neiman Marcus, purveyor of the lavish and exclusive, just made an investment in Fashionphile, an online luxury accessories reseller. The market for used goods is booming. Last year, consumers spent $6 billion on secondhand luxury items. In four years, that’s expected to grow to $23 billion. With this move, Neiman Marcus has a chance to make some money off of that boom.

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