Vestiaire Collective luxury circular marketplace

Category: News
Vestiaire Collective luxury circular marketplace

Vestiaire Collective is one of new breed of pureplay online luxury sellers which are, in essence, marketplaces. What sets Vestiaire apart is that is almost entirely a seller of second-hand goods so if you operate in that segment and aren’t engaged with Vestiaire it’s time to get on board.

Professional sellers on Vestiaire Collective can expect:

  • Lower commission, higher revenues – Preferential commission rates are exclusively available to Professional Sellers
  • Get it seen, get it sold – Access to targeted campaigns that will make sure your pieces grab the spotlight
  • Hassle-free shipping – Shipping from one of 48 eligible countries? When an item sells, Vestiaire Collective will send you a pre-paid shipping label. Just print and pack!
  • Tailor-made tools – Dedicated account management, access to insights, bulk upload tools and catalogue management – at your fingertips.

If you are ready to sell on this marketplace, you can apply to become a professional seller here.

Background to Vestiaire Collective

Launched in Paris in October 2009, Vestiairecollective.com has more than seven million members across 50 countries, with offices in Paris, London, New York, Milan, Berlin and Hong Kong. More than 30,000 new items are submitted by its community of sellers every week, giving buyers access around 3,500 items a day.

The pre-owned fashion sector has experienced rapid growth over the last three years, with a further acceleration during the pandemic. This has been predominantly driven by younger consumers’ increased focus on sustainability and a growing trend for social shopping and online communities. It is estimated that the amount of second-hand clothes purchased will grow from 21% in 2021 to 27% in 2023, with the value of the second-hand sector forecast to be worth over $60bn by 2025.

Vestiaire is riding this wave of consumer interest in pre-loved and re-loved fashion and it’s testament to the vision of its business model that the company raised €178mn in new financing in 2021, backed by global French luxury group Kering and US investment firm Tiger Global Management. By investing in Vestiaire and being represented on the Vestiaire Collective board, global Kering is reinforcing its own strategy of supporting innovative business models, embracing new market trends and exploring new services to fashion and luxury customers. It is also recognising that the second-hand luxury fashion market is now a distinct and growing part of the sector.

Vestiaire may only have generated $210mn in revenues in 2021 but its popularity is growing rapidly, especially in the US. Since the beginning of 2022, Vestiaire Collective has been growing its US GMV at a 75% year-on-year rate. The company achieved this in part through partnering with US fashion resale site Tradesy. With the strategic scale and operational setup this brings, the combined company is well-positioned to grow its share of environmentally friendly local-to-local transactions in the US in the years ahead.

This is an extract from our our newly released RetailX Global Luxury Report 2023 which you can download here.

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