Secondhand fashion is booming, but thrift veterans say rising demand, resale apps, tariffs and inflation have made good finds harder to get and prices harder to afford.
Federal prosecutors charged 12 individuals in an alleged cargo theft conspiracy that diverted over $2 million worth of Nike shoes from the company's Memphis logistics center between July 2021 and June 2024. Nike employees allegedly used unauthorized UPS labels to redirect shipments to resellers.
The Indian government fined HP India and its partners a total of 1.4 billion rupees ($14.4 million) for colluding with resellers in the "cartelization" of computers, ink cartridges, and toner, including bid rigging for government contracts.
Resellers, known as '되팔렘' (doepalrem), are facing backlash for hoarding limited edition merchandise from pop-up stores and reselling them at inflated prices. This practice, likened to ticket scalping, is increasingly common in the growing subculture market, leading to fan frustration and calls for better regulation.
A Bank of America Securities report indicates department stores are losing customers to off-price chains and secondhand stores as inflation impacts consumer spending. Off-price retailers are identified as the primary beneficiaries.
Industry groups dismayed at hints policy will not be in king’s speech, as touts make huge sums from BBC Radio 1 eventKeir Starmer has been urged to honour his pledge to ban ticket touting, amid fears that the policy will be left out of next month’s king’s speech, potentially costing fans “hundreds of millions”.Music industry groups called on the prime minister to act as fresh evidence showed that professional ticket “traders” had targeted BBC Radio 1’s Big Weekend next month, making huge mark-ups through sites such as Viagogo and StubHub. Continue reading...
