Planet Money
Once upon a time, if you wanted to buy a luxury brand item secondhand (say, a Chanel handbag) you had to have an in. There was no easy way to find one. But over the past decade, the market for secondhand luxury goods has exploded. There are now many online resellers where you can shop for used and discounted luxury items. One big problem — how can you be sure if it’s real and authentic?
Some online resellers claim to have solved this problem. They say they’ve developed a process of authentication, and so buyers can trust that the bag is really Gucci or Cartier or Hermès or whatever. But according to some luxury brands, authenticity is something that is often imitated but never replicated.
In today’s episode of Planet Money, the fight between Chanel and The RealReal. And how luxury brands are reacting to the enormous and growing secondhand market for luxury goods.
Support:
Read:Â
- Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life
- Our weekly longformPlanet Money newsletter
- Our weekly Indicator round-up newsletter
Follow:Â
This episode of Planet Money was hosted by Amanda Aronczyk and Jeff Guo. It was produced by James Sneed with help from Charlotte Isidore, who also fact checked this episode. Jess Jiang edited the show and it was engineered by Cena Loffredo. Alex Goldmark is Planet Money‘s executive producer.
See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
-
What to do when you’re in a class action
Maybe you got a boring slip of paper in the mail. Maybe you got a spammy-looking email promising you money. Surprise! You’re in a class action. If you’ve done any commerce in the last decade,…
-
Summer School 4: Banker vs president and the birth of the dollar
Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for video Summer School. Planet Money Summer School has arrived at…
-
Summer School 3: The first stock and perpetual life
Episodes each Wednesday through labor day. Find all the episodes from this season here. And past seasons here. And follow along on TikTok here for video Summer School. Once upon a time, every business was…
-
What Kamala Harris’ economic agenda might look like
Last weekend we were all thrown for a loop when President Joe Biden dropped out of the presidential race and endorsed Kamala Harris for the nomination. Just like everyone else, we are trying to quickly…
-
The color monopoly
In 2022, artist Stuart Semple opened up his laptop to find that all his designs had turned black overnight. All the colors, across files on Adobe products like Photoshop and Illustrator, were gone. Who had…
-
Summer School 2: The golden ages of labor and looms
Who has the power? Workers or bosses? It changes through the ages, though it’s usually the bosses. Today, we look at two key moments when the power of labor shifted, for better and worse, and…
-
Rooftop solar’s dark side
4.5 million households in the U.S. have solar panels on their homes. Most of those customers are happy with it – their electricity bills have just about disappeared, and it’s great for the planet. But…
-
Summer School 1: An Economic History of the World
Planet Money Summer School is back for eight weeks. Join as we travel back in time to find the origins of our economic way of life. Today we ask surprisingly hard question: What is money?…
-
How flying got so bad (or did it?)
We often hear that air travel is worse than it’s ever been. Gone are the days when airplanes touted piano bars and meat carving stations — or even free meals. Instead we’re crammed into tiny…
-
The two companies driving the modern economy
At the core of most of the electronics we use today are some very tiny, very powerful chips. Semiconductor chips. And they are mighty: they help power our phones, laptops, and cars. They enable advances…