The collective shock of the last year is involved, because it prompted many to embrace the standards of the circular economy. This growing green (and thrifty) sensitivity is involved, especially among the younger ones. The fact is that Vestiaire Collective flies, both from the point of view of expanding the user base and business. And Kering, which acquired 5% of the second-hand platform in March, is enjoying the investment.
Vestiaire Collective flies
“We have seen an increase in product sales and orders at a global social level – explains Clara Chappaz, chief business officer of Vestiaire Collective to MFF -. In 2020 only, we observed a +100% on an annual basis. Gen Z and Millennials have stimulated the growth of reselling, due to a greater awareness of the social and environmental impact of their purchases”. The anthropological effect of Coronavirus has changed people’s habits. “The pandemic has created many new sellers. Customers have spent more time interacting with other community members due to isolation.
They had more time to do a wardrobe detox and realised that Vestiaire could be a source of income”. The trend is also observed in Italy, where “the number of orders has increased by more than +85% since the beginning of the year, while new buyers landing on the platform have increased by more than +110%. Italy – she concludes – is one of the markets with the most sellers, with a growth in sellers that rose by over 100% on an annual basis in the first quarter”.
Kering enjoys the investment
When explaining the group’s objectives from a sustainability perspective, Marie-Claire Daveu, head on the subject for Kering, explains that part of the job is investing in emerging realities. “When it comes to innovation, it is very interesting to see that there are more and more start-ups, and people who are working on pilot projects that recycle or up-cycle”, she tells MFF.
In this sense, the March investment is a positive precedent. “I think the future is like our relationship with Vestiaire Collective – adds the manager -, so that they can work with a more solid financial structure. It is important to anticipate and implement tech tools to reduce the environmental footprint of e-commerce”.