The largest news of the year was the long-awaited IPO for Rent the Runway, which boasts more than 750 model companions. Additionally, Kering invested in bag rental platform Cocoon, and Burberry launched rental and resale by way of My Wardrobe HQ. Rent the Runway can be promoting the choice to purchase its items. Vestiaire Collective raised €178 million, sold a 5 per cent stake to Kering and established “Brand Approved” resale with Alexander McQueen; and Grailed raised $60 million from rival Goat Group and Gucci’s CEO, amongst others. Resale marketplaces and white-label platforms corresponding to Reflaunt, Trove, Rebag, Ebay, Goat and The Archivist competed in a resale tech “arms race” to authenticate and automate. While it hasn’t focused on luxury, Thredup grew to become a publicly traded company and secured “resale as a service” companions, together with Farfetch, which bought resale platform Luxclusif. Perhaps essentially the most significant high-profile endorsement …