Online retailer of pre-loved luxury goods
Vestiaire Collective is a global platform for buying and selling pre-owned luxury and designer fashion. It follows a sustainability-focused approach called "Think First, Buy Second," which encourages conscious shopping. The platform connects buyers and sellers of secondhand luxury and designer items, with listings digitally verified and curated by an internal team supported by AI. Buyers can choose physical authentication through international hubs or opt for direct shipping.
History.
Vestiaire Collective was founded in 2009 as "Vestiaire de Copines" by Fanny Moizant, Sophie Hersan, Sébastien Fabre, Alexandre Cognard, Henrique Fernandes, and Christian Jorge. The platform launched with 3,000 pre-owned fashion items sourced from friends and family. In 2012, the company rebranded to "Vestiaire Collective" and began expanding internationally.
Vestiaire Collective started operations in the United Kingdom in 2012, followed by its expansion into the United States in 2014. The company continued its international growth, reaching various European markets in 2015 and further expanding to Hong Kong, Singapore, and Australia by 2017. Today, Vestiaire Collective operates in over 70 countries worldwide.
In 2019, Maximilian Bittner became the Global CEO, with a focus on increasing the company's presence in the US market. Maximilian Bittner is a tech entrepreneur and CEO of Vestiaire Collective. He started his career at Morgan Stanley’s Investment Banking division in London prior to joining McKinsey &amp; Company in Germany. Bittner founded Lazada Group, the main online shopping destination in Southeast Asia, in 2012. He was the driving force behind the company, which quickly consolidated its position as the market leader in the region. Following its rapid growth, Alibaba group purchased a controlling stake in 2016. Maximilian Bittner joined Vestiaire Collective in 2019. As Global CEO, he is currently responsible for spearheading the company’s ambitious growth strategy and to promote circularity at scale.
In 2020, Vestiaire Collective was recognized as the 11th French Unicorn part of the French Tech Next 40/120 list. At the next year, 2021, the company became a Certified B Corporation.
In March 2021, Vestiaire Collective raised €178 million in a funding round led by Kering and Tiger Global Management. In September 2021, the company secured another €178 million led by SoftBank and Generation Investment Management.
In 2022, Vestiaire Collective began a three-year plan to ban 63 fast fashion brands, with 30 banned in 2022 and 33 in 2023. The goal is to raise awareness about textile waste and overconsumption. The company, with help from experts, defined fast fashion based on factors like low prices, frequent collections, large product ranges, quick production, and heavy promotion.
By November 2023, Vestiaire Collective's valuation reached €1.1 billion, following a financing round.
In December 2023, Vestiaire Collective's cofounders Fanny Moizant and Sophie Hersan were awarded the "National Order of Merit" by the French Ministry of the Economy.
In January 2024, the "Make it Iconic" campaign included Fanny Moizant and Sophie Hersan in the list of 40 iconic public figures, recognized for their roles as cofounders of a sustainable fashion initiative.
In February, the company conducted a crowdfunding campaign, raising approximately €3.5 million, surpassing its initial target by more than three times.
Founders.
Fanny Moizant
Fanny Moizant is the Co-Founder and President of Vestiaire Collective. Named one of Forbes' 40 Women of 2021, Fanny currently serves on the IFM Board and was formerly on the SMCP Board. Fanny also leads the company alongside CEO Maximilian Bittner. In December 2023, Fanny was awarded the "National Order of Merit" by the French Ministry of the Economy for her achievements as co-founder of Vestiaire Collective.
Sophie Hersan
Sophie Hersan is the Co-founder and Fashion Director of Vestiaire Collective. She holds a background in economics and political science and studied at the ESMOD fashion design school in Paris. She has 15 years of experience as a studio director and model for leading designers. In December 2023, she was honored with the "National Order of Merit" by the French Ministry of the Economy for her significant contributions to the company. Sophie serves as a board member of Paris Good Fashion, an initiative launched by the City of Paris aimed at developing sustainable, supportive, and responsible practices in the fashion sector.
Operations.
Vestiaire Collective's operations are built around four pillars: Fashion, Trust, Community, and Impact.
Vestiaire Collective's 2024 Circularity Report, "Exposing the True Cost of Fast Fashion," outlines the environmental and financial downsides of fast fashion, noting that these items are often worn less and discarded quickly. The report suggests that pre-owned luxury fashion is 33% more cost-effective over time and has a lower environmental impact. Vestiaire Collective's circular model is reported to prevent three times more emissions than it produces, contributing to a positive environmental effect.
References.
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