This community listens to the peer. But while Vestiaire Collective has ambitions to dominate in the US and beyond, some see space for multiple leaders in the global second-hand fashion market. For instance, Fabre says the company saw Gucci quickly rise from the 15th most popular brand on the site to the second most popular brand less than a year after the Kering -owned brand installed creative director Alessandro Michelewhich means the more product available, the better.
The fresh injection of capital will allow Vestiaire Collective to break into new markets in the Asia Pacific region and spend money on acquiring new customers in markets where there is significant room to grow, such as the US, creating new jobs globally over the next 18 months.
The Vestiaire Collective founders Source: The more products sold in the boutique, the more products sold on the secondary market. Vestiaire Collective is also focused on growing and interationalising its team, currently comprised of people. This is the perfect opportunity for Vestiaire Collective, as luxury goods are increasingly seen as durables and their perceived value is increasing.
It will also invest in a new European logistics facility. The company is one of several fashion resale sites chipping away at the dominance of eBay in the market for vintage clothing and accessories, with a more curated offering of handpicked, authenticated goods. And with global economic uncertainty and reduced social barriers to buying and selling previously worn goods, many are turning to the resale market to feed their appetite.
One year later, init opened for business in the US. Seventy percent of traffic comes from mobile. Vestiaire Collective is the first French investment for Vitruvian, a European private equity firm, which also has a stake in fashion platform Farfetch.
The site currently has over 4 million users and is attracting nearlynew users every month, according to the company. But it also requires sellers to ship sold items to its own facilities, where items are authenticated and quality-assured before being delivered to buyers.
To get there, Vestiaire Collective plans to strengthen its international presence. Built as a peer-to-peer marketplace like eBay, Vestiaire Collective allows sellers to post their own items and set their own prices. It offers a chance for target groups who cannot yet afford a designer item to get familiar with a luxury brand, and provides a safe environment for users to sell and buy post-season.
Previously, American users could buy from the website, but were not able to sell goods to European clients. But growth comes with challenges. The more interaction, the faster you sell.
The latest Tweets from Vestiaire Collective (@vestiaireco). Daily musings from the leading fashion social shopping site for curated pre-owned premium and luxury products. Worldwide. Vestiaire Collective.
K likes. Leader européen de la mode d'occasion luxe et haut de gamme.
“Vestiaire Collective is the largest specialist marketplace for pre-owned luxury clothes and accessories in Europe by a great distance,” Thomas Studd, partner at Vitruvian Partners, said in a statement.
Vestiaire Collective’s revenue has doubled each year since its debut. Inthe site generated €18 million (about $20 million) in revenue, charging commissions as high as 33 percent. Business student graduated in Art, Culture and Communication (Bachelor) and Marketing Management (Master), with an international background and sensitivity for different ultimedescente.com: Customer Relationship Manager .Download