Prada sees second-hand fashion as opportunity

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.

"Second hand is a strategy we have been investigating for more than a year," Lorenzo Bertelli, the eldest son of co- Chief Executives Patrizio Bertelli and Miuccia Prada and the future brand leader, said in an interview at the Reuters Next conference aired on Wednesday.

"I cannot disclose too much but for sure second hand is there. We will take it as an opportunity.

"It can be a partnership with a player or it can be something more in-house, or both of them, a sort of hybrid solution like for e-commerce," he said.