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.
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 per cent since April 2019, are lower than those of The Real Real, an online consignment reseller in the United States (40-50 per cent) and SG’s version, The Fifth Collection (30 per cent). The latter two specialise in luxury fashion with more than 1,000 and 500 brands respectively.
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 firstname.lastname@example.org with photos of the items you wish to part with. The service includes advice for paring down your wardrobe.
Below, Fanny Moizant shares with us her top 10 tips on shopping online (and on VC) for vintage items.
This article was first published in Her World’s June 2019 issue.
Photos: Vestiaire Collective