With its fourth and latest base in Hong Kong, the French e-commerce leader for pre-loved luxury makes it easier for customers in Singapore to sell and buy designer desirables and encourages us to practise circular fashion more.
With its fourth and latest base in Hong Kong, the French e-commerce leader for pre-loved luxury makes it easier for customers in Singapore to sell and buy designer desirables and encourages us to practise circular fashion more.
The president of Vestiaire Collective, Fanny Moizant, is one of its six co-founders.
There’s never been a better time for selling and buying pre-loved luxuries online. Take the once-elusive Hermes Birkin: On the resale market, it’s anything but hard to get. And there’s no waiting list. According to global management consulting firm Bain & Company, it’s a business valued at US$307 billion (S$418 billion).
But when Vestiaire (say “vest-ee-air”) Collective (VC) was founded in 2009, its objective was not to be just another platform for offloading designer items. It was to encourage fashion lovers to be part of a circular economy – to extend the life of their buys by taking care of them and using them often; to shop responsibly by buying second-hand or vintage; and to sell what they no longer want to resale stores or websites so others can enjoy the items and further prolong their use.
1 & 2 VC stocks more than 4,000 brands from 50 countries, including Piaget and Van Cleef & Arpels. 3-5 Hard-to-get pieces like these Chanel limited editions are not hard to find at VC.
Co-founded by Fanny Moizant and five others in Paris, it now has 7.5 million members from 50 countries (SG is one) and stocks more than 4,000 brands, including high-street ones like H&M and cult labels like Supreme.
VC’s commission rates, which have gone down to 20-25 percent since April 2019, are lower than those of The Real Real, an online consignment reseller in the United States (40-50 percent) and SG’s version, The Fifth Collection (30 percent). The latter two specialise in luxury fashion with more than 1,000 and 500 brands respectively.
6 A collectible: Christian Dior jacket by John Galliano, circa 2001. 7 VC’s VIP concierge service ensures that you can get this Hermes Kelly within 48 hours
VC has also made it easier for SG members to sell a minimum of 10 designer pieces through its VIP concierge service. Communication was previously done via e-mail, but VC now collects, authenticates and processes all your items at your home. E-mail VC at vipasia@vestiairecollective.com with photos of the items you wish to part with. The service includes advice for paring down your wardrobe. – ST
