- The Kardashian-Jenners are launching a new resale apparel business called Kardashian Kloset.
- The online venture will debut on Oct. 4 at 9:00 a.m. PST, according to a company Instagram post.
- Kris Jenner announced the business on Sunday evening via the social media network, stating "For the first time you'll be able to shop items directly from our closets."
The Kardashian-Jenners are getting in on resale — a lucrative apparel trend that is growing as shoppers both look for deals and support sustainability efforts.
Resale has grown 21 times faster than the retail apparel market over the past three years, according to a March report by resale marketplace ThredUp. The company predicted the segment will reach $51 billion by 2023. Around 64% of women last year purchased a second-hand fashion item or "are open" to it, up from 45% in 2016, per the report.
Kardashian Kloset will join known players ThredUp, The RealReal and peer-to-peer marketplace Poshmark in the apparel circular economy. Additionally, there have been movements from more traditional retailers to get into the space. In August, Macy's revealed that they were piloting a program with ThredUp that would place secondhand clothing in 40 stores nationwide. One day after the Macy's announcement J.C. Penney announced that they, too, were launching an apparel resell program with ThredUp in 30 locations.
Handbags, denim, footwear, jackets and fine watches are the top five categories in used good sales, according to a B-Stock report emailed to Retail Dive.