Louis Vuitton, Chanel, Gucci, step aside. Resale clothing shoppers are bypassing previously-owned luxury brands at discounted prices in favor of scoring secondhand mid-tier brands for less.

The same report revealed that the used clothing market is expected to expand to $70 billion annually by 2027, up from current levels of around $44 billion.

It designs and sells clothing articles from mid-tier to luxury segments. Ralph Lauren Corporation (NYSE:RL) is well-known around the world for its iconic polo shirts and logo symbolizing the sport.

Once defined by affordable, accessible fashion, the middle market in fashion retail is now squeezed between ultra-low-cost fast fashion juggernauts and mid-tier clothing brands with aspirational ...