By Lisa Jucca

VALVIGNA, Italy (Reuters). Prada (OTC) is an Italian fashion company that sees opportunities in second-hand fashion. It can both develop in-house or through partnerships. Lorenzo Bertelli was the marketing chief and heirdesignate of Prada. In the past three years, there has been a surge in demand for high-end, pre-owned clothes and bags. This is due to younger shoppers who are more conscious about their environment. According to Bain consultancy, it is projected to grow by 65% this year to 33 billion euros ($37.2 billion). This is compared to the 12% growth in brand-new luxury goods. The sector has been explored by other luxury brands. French conglomerate Kering Vestiaire Collective was acquired by (PA:), a major platform that sells second-hand clothing and handbags. Kering’s iconic brand Gucci has also formed a partnership with U.S.-based platform The RealReal, (NASDAQ:). Lorenzo Bertelli (the future leader of the brand), the eldest child of Chief Executives Patrizio Bertrelli, and Miuccia Prada, stated that second hand was a strategy they have been studying for over a year.

I cannot reveal too much, but second-hand is definitely there. This is an opportunity that we will seize.

He said, “It could be a partnership or something more in-house or both of them. A sort of hybrid solution such as for ecommerce.” According to Reuters, the heir to Prada’s empire said he wanted to make the group autonomous nL8N2SF4OL once he took over the reins. He doesn’t seem to be bothered by the challenges ahead in the changing luxury industry. His experience as a rally driver is what he credits for that.

“Rallies and sports in general taught me many things. He said that it teaches you perseverance and humility in learning. When you are trying to find your own limits, sport can be brutal.

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