Vestiaire Collective

Summary

The leading global online marketplace for desirable pre-loved fashion, Vestiaire Collective has a rare inventory of 5 million items including 20,000 daily new-ins. It currently has a diverse global team of 800 employees representing more than 50 nationalities. The company stands by its values: community, activism, transparency, dedication and greatness, and is proud to be a Bcorp. Founded in 2009, it is headquartered in Paris with offices in Tourcoing, London, Berlin, New York, Hong Kong, Singapore, Lisbon, and Seoul.

History

Vestiaire Collective, founded in 2009 as “Vestiaire de Copines” by Fanny Moizant, Sophie Hersan, Sébastien Fabre, Alexandre Cognard, Henrique Fernandes, and Christian Jorge, began with 3,000 pre-owned fashion items sourced from friends and family. Rebranded in 2012, the company expanded internationally, starting in the UK and then the US, growing to operate in over 70 countries worldwide.

Under the leadership of Global CEO Maximilian Bittner, who joined in 2019, Vestiaire Collective shifted its focus towards promoting circularity and increasing its US market presence. Bittner, a tech entrepreneur known for founding Lazada Group, brought a wealth of experience, having previously led the company through rapid growth before its acquisition by Alibaba.

In recent years, Vestiaire Collective has been recognised for its commitment to sustainability. In 2020, it earned the distinction of being the 11th French Unicorn and became a Certified B Corporation in 2021. In line with its mission to tackle textile waste, the company launched a three-year plan in 2022 to ban 63 fast fashion brands, advocating for more conscious consumption.

The company’s growth continued in 2021 with significant funding rounds, raising €356 million in total, led by industry giants such as Kering, SoftBank, and Tiger Global Management. By November 2023, its valuation reached €1.1 billion. Fanny Moizant and Sophie Hersan were also recognised with the “National Order of Merit” by the French Ministry of the Economy in December 2023 for their leadership in sustainable fashion.

Vestiare’s resale platform creates potential benefits to citizens, business and the environment including shifting from fast fashion to trading up to a mindset of fewer, but better quality, second hand items; lower price points make luxury brand items accessible to a larger customer base; 48% of second hand shoppers admit purchasing a brand that was new to them and nearly all would consider buying these brands again; and by 2027, resale apparel is expected to make up 11% of an average citizen’s wardrobe.

Vision

Vestiaire Collective’s vision is to revolutionise the fashion industry by promoting circularity and sustainable consumption. The company strives to create a global marketplace where pre-owned fashion is as valued and accessible as new, empowering individuals to extend the lifecycle of their clothing and reduce textile waste. With a commitment to fostering a more sustainable and conscious fashion culture, Vestiaire Collective aims to inspire consumers to make smarter, eco-friendly choices while contributing to the fight against overconsumption and environmental degradation.

Mission Statement

Vestiaire Collective launched in 2009 with the mission to enable individuals to buy and sell second-hand fashion items. Vestiaire’s platform was established so that a global community of fashion-loving, environmentally conscious users could put the items they no longer wear or use back into circulation. Sellers list items on the marketplace and, after validation by the Vestiaire’s curation team, items become available for sale. Originally called ‘Vestiaire de Copines’ and only available in France, Vestiaire Collective expanded to meet demand and now has 11 million members across 80 countries.

Key People

• Fanny Moizant – Co-founder and President
• Sophie Hersan – Co-founder and Fashion Director
• Maximilian Bittner – Global CEO
• Christian Jorge – Co-founder

Products and Services

Vestiaire Collective offers a platform for buying and selling pre-owned luxury fashion, including clothing, accessories, shoes, and bags. The company ensures product authenticity through a rigorous verification process, offering customers a trusted marketplace for sustainable fashion. In addition to its core resale services, Vestiaire Collective promotes circular fashion by encouraging the reuse and recycling of high-quality items, helping to reduce textile waste. The platform operates globally, connecting buyers and sellers across over 70 countries.

Awards and Recognition

Since 2009, Vestiaire Collective has grown from a French company to a global one with Parisian DNA. Its international “vestiaire” (changing room) is composed of 6 million fashion-savvy members present in over 50 countries in Europe, the United States and –about to be launched – Australia, Hong Kong and Singapore. Its model is unique due to its carefully curated catalogue of 600,000 desirable items that, once sold, are expertly checked for 100% quality and authenticity. Sellers in its community submit 30,000 new items every week, which enables buyers to hunt among over 3,200 coveted and must-have fashion pieces a day.

References

1. “Vestiaire Collective est-il fiable ?”. Centre d’aide 
2. “Exposing the True Cost of Fast Fashion”. fr.vestiairecollective.com. 
3. “Fashion sustainability Report 2022”. Vestiaire Collective. 
4. “Vestiaire Collective – Certified B Corporation – B Lab Global”. www.bcorporation.net. 
5. “Vestiaire Collective celebrates its 10th anniversary with an online treasure hunt”. nss magazine. 
6. “How Fanny Moizant Grew Vestiaire Collective From a Small Apartment Operation to a Luxury Resale Giant”. Fashionista. 
7. “Vestiaire Collective Company Profile: Financials, Valuation, and Growth”. PrivCo. 
8.  “Start-up : Les 20 Plus Grosses Levées De Fonds Françaises En 2015 Et 2016”. Forbes France 
9. “Vestiaire Collective pousse l’international”. Les Echos (in French).
10. “[Exclusif] : Les clés pour réussir en e-commerce au Royaume-Uni”. ecommercemag.fr (in French). 
11. “Vestiaire Collective va se concentrer sur l’Australie, Hong Kong et Singapour”. videos.lesechos.fr. 
12. “Dailymotion”. www.dailymotion.com.
13. “Vestiaire Collective : Sébastien Fabre va céder les commandes à Maximilian Bittner”. FashionNetwork.com
14. “Maximilian Bittner nommé CEO de Vestiaire Collective”. CB News (in French). 
15. “Sweep is part of French Tech Next40/120 – Sweep”. SWEEP 
16. “Mode : Vestiaire Collective lève €178 mlns auprès de Kering et du fonds Tiger”. Investir 
17. “S’opposant à la mode jetable, Vestiaire Collective bannit les géants de la fast-fashion de sa plateforme”. Marie Claire
18. “Vestiaire Collective bannit plusieurs marques de fast fashion”. FashionUnited (in French). Retrieved 2024-09-13.
19. “Resale platform launches crowdfunding campaign”. Ecotextile News. Retrieved 2024-09-13.
20.  “Les co-fondatrices de Vestiaire Collective reçoivent la médaille de L’Ordre National du Mérite”. FashionUnited (in French). 
21. “Marquez les esprits. Choisir la France. – Accueil”. choosefrance.fr.