How Vestiaire Collective is revolutionising the way we shop luxury fashion online and off

Does Vestiaire Collective occupy the same gap that it was intended to fill when the platform launched?

At its debut, Vestiaire Collective was called “Vestiaire de Copines”. It was based on the “community” value - representing a group of fashion lovers who could share insiders' access to fashion items through word of mouth. Nowadays Vestiaire Collective has evolved to represent much more; [it’s] a global community of fashion activists at a larger scale, becoming more inclusive and more conscious. The launch of Vestiaire Collective and other resale platforms revolutionised the sector. It helped bring desirability to the pre-owned market and gave easy access to a broader assortment and wider community.

Has there been a shift in the ‘typical’ Vestiaire Collective user in the years since the launch?

Some markets are seller-focused, whereas, in some markets, we typically see more buyers. The UK is an outlier where over 70% of business is currently local to local, showing there is a community of both buyers and sellers. Overall we have two types of customers: the younger generations are attracted to affordability, the environmental solution that Vestiaire Collective brings to the fashion industry and a wider [selection of choices beyond] current trends. At the other end, “Boomers” like to buy and sell investment pieces at a higher sell point. For both of them, circularity and environmental concerns are an increasing driver, which makes us very happy!

Do you think Vestiaire Collective has contributed a greater desire and appreciation of vintage, from being more of a niche community to increasingly “mainstream”?

Before, the market was mainly composed of small second-hand or vintage shops and generalist platforms. The launch of Vestiaire Collective has brought desirability to the second-hand market and easy access to a much wider and higher quality range. Vintage, which at the time was favoured by a small number of connoisseurs, has also become more democratic. Designers are increasingly bringing pieces from the past back into their collections which is driving demand in the second-hand market. Our brand partnerships allow us to deliver greater awareness to pre-loved items and increase trust through great brand partnerships that also enables circularity in the brand’s business model.

Part of Vestiaire Collective’s sustainability strategy is to partner with brands – how does this kind of collaboration work?

In 2021, we developed an innovative program to onboard brands into our circularity mission as Retail as a Service (RaaS). It allows brands to disrupt traditional retail cycles through collaboration within their resale platform and supports the circular, sustainable approach to fashion. The platform preserves the longevity of past collections and creates a new narrative for brands to connect with their customers. Mulberry, for example, bought back items and repaired them in-house before listing them for sale through a brand-approved page on Vestiaire Collective.

How important is it for the platform to promote good practice to other businesses, whether they are other resale platforms, or fashion brands more generally?

Achieving B-Corp status was one of our key roadmap pillars as no other framework exists on a global scale which considers every single aspect of the business and allows us to have a full-scale view of the business model. We’re thrilled to be the first second-hand fashion platform in the world to achieve this coveted status. Vestiaire Collective was born with the idea to drive change towards a more sustainable future in fashion and transform the industry. This type of change does not come with only one brand or one company, so we really believe that this is our mission to partner with other brands, institutions and foundations to make the whole industry move together toward this path.

Vestiaire Collective has appeared in physical retail spaces, collaborating with department stores Selfridges in London and at Unger in Hamburg. Do you think this reflects a broader shift in the industry’s approach to sustainability in fashion?

The approach between brands and the second-hand market has evolved considerably. In the past 10 years it was almost ignored and just an alternative whereas today it is a solution to a need. Department Stores have understood the need to respond to their customers' demands but also to be committed to a more circular and innovative fashion future. Traditional retailers need to adapt to the evolving consumer landscape that is increasingly app/digital first, and looking for a sense of community and connection and strong sustainable credentials. We were really happy to partner with Selfridges and Unger and it gave us the opportunity to really speak to our customers on a local level, driving brand affinity and enabling us to evaluate how much customers needed to be onboarded physically as well.

What do you think the future looks like for the industry – for both digital platforms and physical retail?

According to our latest report with BCG, the global apparel, footwear and accessories second-hand market is estimated to be $100-120B, which is 3x larger than 3 years ago, and expected to grow 20-30% every year. The second-hand fashion market is becoming an established business with a solid reputation, and the potential is significant. We conducted a UK specific survey with OnePoll in Dec 2021, which explored consumer awareness and attitudes surrounding resale. Over 40% said they now buy and sell more pre-owned clothing than five years ago. Consumers are set to become more resourceful, looking at fashion in terms of long-term value and investment.

More brands in the first market will include circularity in their business model and seek partnerships with second-hand experts, such as the partnerships we have done with Alexander McQueen, MyTheresa and more. Additionally, we have seen more and more e-commerce platforms launch with the closure of some retail stores. Everything is now available digitally, online, or through social media platforms - even fashion shows are accessible and viewable by all.

What does the future look like for Vestiaire Collective?

We will continue working on reducing our impact within our climate strategy. We want to improve consumers' experience behaviour on the platform so that our community can choose more sustainable choices such as local supply and direct shopping. Longer term, our ultimate goal is to change the way people consume fashion. We’re working on driving this change through partnerships like our Resale as a Service program, but also lobbying and working with crucial NGO’s on the ground to spread this message everywhere. Our Impact Report was released in 2022 and serves not only as evidence that our model has a tangible impact, but also as a commitment to going further. We now want to become the first in the sector to publish a comprehensive environmental and socioeconomic profit and loss statement, continuing to demonstrate the scale of the possible positive changes within the fashion industry.