Luxury second-hand marketplace Vestiaire Collective has launched a “curated edit of pre-loved Isabel Marant pieces, hand-picked by Isabel Marant herself” on the platform today [Tuesday 09 July 2024].
The edit will feature vintage pieces from the designer’s mainline and Etoile line, plus accessories and shoes. It will also include “15 iconic runway looks from the last decade, chosen by the designer herself, offering fashion enthusiasts the rare opportunity to acquire emblematic Isabel Marant pieces straight from the brand’s impressive archive”.
This latest partnership is part of the wider sustainability initiative by the Parisian designer. It “aims to promote sustainable practices by extending the lifecycle of fashion items – a core value shared by Vestiaire Collective”.
A company profile in the recently published RetailX Global Luxury 2024 Report looks at how Vestiaire Collective is part of a new breed of pureplay online luxury sellers that are, in essence, member-only marketplaces.
What sets Vestiaire apart is that is almost entirely a purveyor of second hand luxury. Launched in Paris in October 2009, Vestiairecollective.com has more than 7 million members, across 50 countries, with offices in Paris, London, New York, Milan, Berlin and Hong Kong. More than 30,000 new items are added by its community of sellers every week, which enables buyers to access around 3,500 fashion pieces each day.
The amount of second hand fashion in people’s closets is predicted to grow from 21% in 2021 to 27% in 2023 with the value of the second hand sector forecasted to be worth over $60bn by 2025. Vestiaire is at the vanguard of riding this wave of consumer interest in pre-loved and reloved fashion. It is testament to the vision of its business model that the company raised €178m in new financing in 2021, backed by global French luxury group Kering and US investment firm Tiger Global Management.
By investing in Vestiaire Collective and by being represented at the Vestiaire Collective Board of Directors, global Luxury Group 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 doffing its designer cap to the fact that the second hand luxury fashion market is now a distinct and growing part of the sector.
The company may only have generated $210m in revenues in 2021, but this belies its growing popularity, especially in the US. In recent years, Vestiaire Collective has grown at an accelerated pace in the US, which has become its largest market. In particular, since the beginning of 2022, Vestiaire Collective has been growing its US GMV at a 75% year-on-year rate.
This except of the Vestiaire Collective profile was originally published in the RetailX Global Luxury 2024 report.
This report aims to give senior retailers both insight of a market worth $354.81bn as well as details on how the major players are reacting to economic forces and are using technology and customer experience to differentiate their products and increase sales. It also includes some of the biggest and best brands in Luxury in our company profiles and company snapshots.
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