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Co-founder and president, Vestiaire Collective
Second-hand marketplaces are acquiring more market share in fashion. According to Boston Consulting Group, resale’s current value is $100 billion to $120 billion worldwide, nearly triple its size in 2020. Fanny Moizant leads Paris-based Vestiaire Collective, one of the largest players in the global luxury resale market. It holds a $1.79 billion valuation, as of September 2021.
Thirteen years after its launch, Vestiaire Collective acquired American competitor Tradesy in March. Now, Vestiaire Collective counts the U.S. as its largest market. In March 2021, Kering and Tiger Global Management invested $216 million in the company, and Softbank invested $209 million in the company in September 2021. The company has continued to build consumer trust and grow its resale as a service platform; partners include Mytheresa. Now, the company is expanding its sustainability credentials with digital IDs through Eon.
What does your day-to-day look like?
“Every day brings a different agenda. We just opened an office in Korea, as part of our Asian expansion, so last week I was there for the launch. But usually, you can find me in our HQ in Paris working closely with the leadership teams to ideate omnichannel marketing initiatives and ensure that our brand strategy is well-rounded on a global scale. This past year, I’ve worked closely with our chief sustainability officer to get B-Corp certified and continue building on our sustainability pillar.”
What is your strategy for differentiating in the crowded resale market?
“In a designer marketplace, you equally prioritize buyers and sellers; one doesn’t exist without the other. For the buyer, we will continue to offer a desirable fashion catalog with rare finds and sold-out special pieces that they can purchase worry-free with our authentication. For the seller, growth and retention come from having the lowest seller fees in luxury resale, and a fast and easy listing process.”
How can tech move fashion forward?
“Since the [start of the] pandemic, which accelerated digital adoption, we have committed significant time, budget and resources to improving and expanding our tech. Consumers are looking for fun and seamless user experiences. They want disruption and excitement, and the industry needs continuous tech innovation to keep up. Tech is also necessary for helping brands enter the circular economy, which is only a matter of when, not if.
We’ve joined the Sustainable Market Initiative Fashion Task Force and are currently working on a Digital ID system designed to inform customers about the sustainability and lifecycle of their garments. And under the umbrella of The World Economic Forum, we’ve partnered with organizations to develop a pilot that aims to enhance the resale customer experience through data exchange and digital authentication. This is the first step to a global alliance on value chain circularity, enabled by digital traceability. Tech will continue to be at the forefront of the industry and propel it forward.”
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