Asos buys into luxury resale market
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.