Circular value chains in fashion: Strengthening trust in second hand markets
The Forum, Bain, Ralph Lauren, Vestiaire Collective and EVRYTHNG, have launched a pilot to ensure the authentication of fashion products in second hand markets.
Since 2009, Vestiaire Collective has grown from a French company to a global one with Parisian DNA. Its international "vestiaire" (changing room) is composed of 6 million fashion-savvy members present in over 50 countries in Europe, the United States and –about to be launched – Australia, Hong Kong and Singapore. Its model is unique due to its carefully curated catalogue of 600,000 desirable items that, once sold, are expertly checked for 100% quality and authenticity. Sellers in its community submit 30,000 new items every week, which enables buyers to hunt among over 3,200 coveted and must-have fashion pieces a day.