Haipunuokai 1897

1897.com, also known as Haipunuokai 1897, operates as an online platform specializing in the sale of second-hand luxury products in China. The market for pre-owned luxury items in China is experiencing significant growth, driven by a shift in consumer attitudes, where buying second-hand is now seen as a savvy and sustainable choice. This trend is particularly strong among Millennials and Gen Z, who are attracted to the affordability and unique, often discontinued, designs available in the resale market. The Chinese second-hand luxury market was projected to grow substantially, reaching an estimated USD 30 billion by 2025.

The platform caters to a growing demographic of consumers seeking value and uniqueness in their luxury purchases. By providing access to authenticated, pre-owned luxury goods such as watches, jewelry, and handbags, the company taps into a consumer base that is increasingly conscious of environmental concerns and changing perceptions of ownership. The business model is centered on facilitating the buying and selling of these goods, likely earning revenue through commissions on sales, authentication fees, or other platform-related services. This model benefits from high taxes on new luxury goods in China, which can make them significantly more expensive than in other regions, further driving consumers to the second-hand market.

Keywords: second-hand luxury, luxury resale, China e-commerce, online marketplace, pre-owned luxury goods, circular fashion, luxury consignment, sustainable luxury, authenticated luxury, Chinese consumers