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Asos buys into luxury resale market

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Asos has invested in luxury resale website Covetique, according to reports.

Reuters says the fashion retailer has made a “sizeable investment” in the site which buys and sells pre-owned designer clothing and accessories that are still in perfect condition.

Asos already operates in the secondhand market through its own Asos Marketplace. This latest move highlights a consumer trend towards premium products but at lower prices.

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