PrettyLittleThing

Ultra-fast fashion e-tailer PrettyLittleThing is the latest brand to launch a secondhand marketplace, playing into a debate over whether resale is becoming a smokescreen for even more and faster consumption.

This year the hit reality series was sponsored by resale site eBay, a move celebrated as promoting more responsible consumption. But the show is still a huge marketing opportunity for fast-fashion brands.

Missguided, which went into administration and was bought in a fire sale this week, never quite established a unique style or signature product category that would differentiate it from bigger rivals like Boohoo, Asos or H&M.

Big music festivals produce a torrent of content for social media, but the fashion is equally as important, as what influencers wear to Coachella can quickly become a big seller in stores worldwide.

After the purchase Boohoo will retain over £350 million, leaving it in a strong position for future acquisitions.