Secondary market sales of fashion and luxury goods are booming, with the global market for secondhand luxury goods growing by 28 percent in 2022 to reach $45.21 billion, according to Bain & Company. That is 1.3 times higher than the growth rate for new luxury goods. “The secondhand market is already worth 3 percent to 5 percent of the overall apparel, footwear, and accessories sector,” according to Boston Consulting Group, which says that the segment “could grow to as much as 40 percent, depending on macroeconomic conditions.”
Such growth is likely to be helped by changing consumer preferences and the macroeconomic climate, with consumers increasingly tapping into the online consignment segment to save money and to shop more “sustainably.”
All the while, new market entrants have rushed to meet burgeoning demand (bringing “an increased supply of goods” with them, per Bain) and existing players are looking to differentiate themselves and their value propositions. Against this background, funding keeps pouring into the secondary market – whether it be funneled into new resale platforms or already-established ones that are looking to expand their operations, including in an international capacity – and all the while, given the increasingly crowded nature of the market, consolidation is starting to come into effect, with existing entities joining forces to grab a bigger share of the market.
With so much activity underway on the resale and rental space, we have compiled a tracker of funding and M&A events to provide a broad overview of which players are fundraising, merging, and what the trajectory of this segment of the market – which only appears to be gaining in steam – looks like more generally.
Feb. 18, 2026 – eBay to Acquire Depop from Etsy for $1.2B
eBay has entered into a definitive agreement to acquire fashion resale marketplace Depop from Etsy for approximately $1.2 billion in cash, subject to adjustments. Depop generated around $1 billion in gross merchandise sales (GMS) in 2025, with nearly 60% year-over-year growth in the U.S. The acquisition strengthens eBay’s consumer-to-consumer strategy and expands its reach among Gen Z and Millennial shoppers in the fast-growing recommerce category.
“Depop has built a trusted, social-forward marketplace with strong momentum in pre-loved fashion,” said eBay CEO Jamie Iannone. “This acquisition advances one of our fastest-growing focus categories and enables us to reach a younger demographic across the expanding recommerce landscape.” Etsy CEO Kruti Patel Goyal said the transaction allows Etsy to focus on growing its core marketplace, while positioning Depop for its next phase of growth within eBay.
2025
Dec. 16, 2025 – Bought Acquires Robes Rental
Nordic resale startup Bought has acquired Finnish peer-to-peer luxury rental platform Robes Rental, marking its third acquisition of 2025 as it builds an end-to-end circular wardrobe platform. The move expands Bought’s presence in Europe and adds rental capabilities to its growing fashion ecosystem. Founded in Helsinki, both companies share a mission to redefine ownership through technology-driven circularity. Earlier this year, Bought also acquired Zadaa and the bankruptcy estate of Vähänkäytetty.fi, and launched peer-to-peer logistics in partnership with Wolt.
Robes’ technology and rental expertise will now be integrated into Bought’s platform, while the standalone Robes app will sunset by year-end. “By uniting resale and rental under one platform, we’re taking a major step toward reshaping the future of fashion,” said Bought CEO Erik Kymäläinen.
Nov. 13, 2025 – Responsible Acquires Sneaker Resale Co. Klekt
Belfast-based fashion tech company Responsible has acquired Klekt, Europe’s original sneaker marketplace, in a strategic move to expand its global footprint in the fast-growing resale market. The deal combines Responsible’s advanced re-commerce infrastructure with Klekt’s community-driven platform and deep credibility among sneaker and streetwear enthusiasts. The acquisition strengthens Responsible’s mission to embed circularity into fashion by merging operational scale with cultural relevance. It follows recent moves by the company, including the acquisitions of Belfast resale startup Haru and London-based Trading Desk.
“We’re combining best-in-class operations and tech with an established streetwear community,” said Responsible CEO Mark Dowds. “Together, we’ll scale access to high-quality, authenticated pre-loved sneakers and apparel across Europe and beyond.”
Oct. 21, 2025 – Yaga Raises €4M in Pre-Series A
Estonia-based Yaga, a leading second-hand fashion marketplace, has raised €4 million in a pre-Series A round led by Specialist VC, with backing from H&M Group, Trind Ventures, Startup Wise Guys, and angel investors. Founded in 2017, Yaga is the market leader in South Africa and now attracts over 12 million monthly visits. The platform offers secure, user-friendly resale with escrow payments and localised logistics, making second-hand fashion more accessible. The funding will fuel expansion across Africa and the Middle East, support team growth, and deepen operations in existing markets.
“Second-hand is no longer niche, it’s becoming the first choice,” said CEO Aune Aunapuu. “Our growth in South Africa shows this is a global movement, and we’re building the sustainable fashion marketplace of the future.”
Oct. 14, 2025 – FASHIONPHILE Acquires Luxe Collective
FASHIONPHILE, the leading resale platform for ultra-luxury, preowned accessories, has officially entered the UK market with the acquisition of Luxe Collective’s intellectual property, customer database, and social media channels. The deal marks the launch of FASHIONPHILE UK, debuting today via LuxeCollectiveFashion.com.
Founded in 2018 by brothers Ben and Joe Gallagher, Luxe Collective quickly became one of the UK’s most influential voices in luxury resale before shutting down amid financial strain following a major theft incident. The Gallaghers will now join FASHIONPHILE to lead its UK operations, with Joe as Director of Operations and Ben as Director of Brand Marketing. This strategic move blends Luxe Collective’s cultural cachet and loyal following with FASHIONPHILE’s authentication expertise, operational scale, and technology.
This is a short excerpt from a data set that is published exclusively for TFL Pro+ subscribers. For access to our up-to-date resale investment and M&A tracker, inquire today about how to sign up for a Professional subscription.
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