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Global Luxury Fashion Resale Platform Dedicated to a Sustainable Future

With the city’s large and sophisticated consumer base and excellent logistics infrastructure, Vestiaire Collective, a leading global online marketplace for authenticated pre-loved luxury fashion and accessories, sets foot in Hong Kong and eyes Asia Pacific expansion.

In a new era of smart shopping, Vestiaire Collective, a global resale platform for pre-loved luxury fashion, is the answer to the evolving attitude towards fashion consumption and the circular economy, giving customers the opportunity to extend the lifespan of their fashion items. “Resale is one of the best ways to promote sustainability and circular economy,” said Fanny Moizant, Co-founder of Vestiaire Collective, “it reduces waste by not creating more but reusing what’s already made.” 

Founded in 2009 and based in Paris, Vestiaire Collective encompasses a carefully curated catalogue featuring over 1.5 million brand items from handbags, clothes, shoes, to watches and jewellery, with 5,000 new items submitted daily. “Our platform is unique because it connects over nine million members on a global scale and allows them to inspire one another regardless of their location,” said Moizant.

An open-minded and receptive market for innovative business

In 2016, the company started preparations to open an office in Hong Kong, as the largest regional base of followers was located here. “Hong Kong is an international city with different cultures. This works in our favour because that means our customers are also more open-minded and receptive of new ideas and businesses,” she said.

According to a survey conducted by Vestiaire Collective in ten key markets, Hong Kong ranks top three with the highest interest in sustainable fashion, while the city also has the highest awareness of the concept of “circular fashion”.

“There is a growing acceptance in pre‑owned fashion and accessories in recent years, thanks to the younger generation and social media,” she said. “Also, Hong Kong has huge potential for supply as the appetite for luxury consumption is very high, the basket size on average is twice that of France.” 

Seamless and efficient business environment

Hong Kong’s favourable business environment is also a winning factor for Vestiaire Collective to set a foothold in the city. “The infrastructure and general environment for us to operate a business here is seamless and efficient,” Moizant remarked. “The city is very tech-savvy with high internet and mobile penetration, so setting up our online business here has been smooth.” 

“Logistics is at the heart of our business model, and from that standpoint, Hong Kong has a strong edge over neighbouring cities,” she added. 

While growing the Japanese market, Vestiaire Collective’s priority is to continue strengthening its strong presence in the two existing major markets in Asia Pacific – Hong  Kong and Singapore. With its soon available Chinese mobile app and website, they are also committed to further expanding its business in the Greater China region. The company is actively recruiting professional sellers in Hong Kong and other markets. 

Moizant regards InvestHK as an important partner along their business expansion journey in Hong Kong. “InvestHK is a key player in the ecosystem and helps opening more doors, connecting us with relevant business partners. They can also advise the latest macro trends in the city and provide key market data,” she concluded. 

07.04.2020

Fast Facts

  • Headquartered in Paris with global offices in Berlin, London, Milan, New York and Hong Kong
  • Currently has over 400 employees worldwide with 30 people in the Hong Kong office
  • Functions of Hong Kong office includes logistic hub, authentication, marketing, business development, as well as a dedicated VIP team offering consignment services

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