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A Fashion Empire in the Making
With eight million users and a catalogue of more than 900,000 products, Vestiaire Collective is a global fashion business that’s leaving a lasting impression on the e-commerce sector.
Since its launch in 2009, Co-Founder Fanny Moizant says the business has exploded online.
“The company has experienced tremendous growth since we launched. We now serve over eight million users, featuring a catalogue of over 900,000 products with offices across Paris, London, New York and Berlin. We also opened our most recent office in Hong Kong in January 2017. In this time, [the brand] has become a go-to online destination for fashion lovers all around the world to hunt for pre-loved items,” she tells Power Retail.
The business was founded by Moizant and five other business partners with a simple idea in mind – re-selling designer clothing. “The idea for the business came when I first noticed my friends and fashion bloggers in France were having trouble selling their designer clothing,” she says. “At the time, there was a lack of dedicated, trusted platforms for fashion lovers to buy and sell their pre-owned items in a smart, inspirational and trusted way.”
Servicing both buyers and sellers, the online marketplace has created a global community of like-minded individuals who have fashion hard-wired into their DNA and prefer to shop sustainably, rather than support the fast fashion economy.
“This is a mindset that more customers are embracing – being more mindful about consumption, and being aware that we all have an individual responsibility towards our consumption habits. I operate the ‘one in, one out rule’ in my own wardrobe, and I encourage others to do so too. It’s all about buying less, but buying better,” Moizant explains.
Overcoming Adversity in Business
Vestiaire Collective was first launched during a recession, but according to Moizant having an “entrepreneurial mindset” can help business founders overcome even the most challenging conditions.
“It makes you feel like you’re living on a rollercoaster, some days are very high and some are very low. But in those moments there are two things that make me fight harder to overcome the challenges; my passion for the company and my team. I owe both of them the inspiration to crush whatever stone is in the way,” she says.
“I do think these challenging times are truly inspiring moments. When you struggle you have to find new ways of doing things, so don’t try to replicate what already exists. Just work on your dissatisfactions, try to find answers to them. If you do, you might be sitting on a business idea.”
Moizant jokes that having a power wardrobe helps her when things get tough. “I have several [power wardrobes] according to where I live. I have to adapt it to the weather. In Europe, it’s heels, denim and sweater. In Hong Kong, it’s much more a t-shirt, large pants and sneakers,” she says.
For other women out there looking to leave a mark on the local Australian or the international industry, Moizant says it’s all about hard work.
“Follow your intuition, don’t be afraid, always be a leading example and work more than anyone else.”