A Touch of Circular Economy on Luxury Fashion Industry: Analyzing the Second-Hand Luxury Fashion Rental Platform in Turkey

The circular economy concept is not only touching a wide variety of industries but also affecting consumers’ world, as well. In that manner, this chapter focuses on how circular and sharing economy notions are affecting a niche market of luxury fashion in the second-hand markets. The chapter starts examining circular economy practices in the fashion industry, namely second-hand marketing in the luxury fashion segments. Also, the Ecocanvas model as a novel business model is briefly discussed. We adopted a qualitative research approach, and multi-case analyses were examined to present an overall framework in the Turkish luxury fashion rental segment. The findings are presented under three headings. First, a general look at high-end fashion is provided, as to how the novel shift in non-linear practices is affecting the whole eco-system. Then, the overall process of second-hand luxury fashion rental platforms is examined, as we believe the perfect fit for sharing economy’s effect on this industry. Last, Daou et al.’s (2020) “Ecocanvas” Analysis: Circular Business Canvas Model Analysis of Second Hand Luxury Fashion Rental Platforms is performed. The chapter concludes by highlighting three important findings: reuse of the items, revenue streams, and emotional value.