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“Dress Smart” Takes On A New Meaning In The Circular Economy
By Elise Dejesus
August 14, 2020
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Circular Economy Vestiaire Featured on WOMANBOSS
Co-founder of Vestiaire Fanny Moizant
“An estimated US $500 billion is lost every year due to clothing being barely worn and rarely recycled.”

The fashion industry, as we know it, is ever-evolving. Its influence determines the latest style trends, sways the way we shop and contributes nearly $2.5 trillion to the global economy. With such a tremendous global impact, the fashion industry continues to dominate. In the last 20 years or so, however, consumer behavior regarding fashion has significantly changed. Factors such as underpaid factory workers, industrialization in rural communities and the environmental impact of the industry’s carbon footprint have given way to social protests to demand for change. With revolving doors, some companies are looking to lead the way by adopting new business models around Circular Fashion.

 

Vestiaire Circular Economy Sustainable Fashion Featured on WOMANBOSS
Fanny Moizant

Circular Fashion and C2C 

As stated by Common Objective, an intelligent business network for the fashion industry, “a circular fashion industry is one in which waste and pollution are designed out, products and materials are kept in use as long as possible, including reusing and recycling.”  

To that end, the C2C (consumer-to-consumer) fashion marketplace is gaining traction. One of the fastest growing C2C with a global footprint is Vestiaire Collective. They provide a marketplace for consumers to resell, and purchase goods directly from each other. This aspect of circular fashion cuts out the need for new production thus producing no waste as products continue to circulate through the marketplace over and over again. We asked Fanny Moizant, co-founder of Vestiaire Collective, a few questions to get the inside scoop on her take on circular fashion, C2C and sustainability. 

WB: How important is sustainability in the eyes of the consumers in the luxury and fashion C2C marketplace?  Are most customers looking for discount or do you see sustainability being an important consideration when customers decide to sell or shop on Vestiaire Collective? 

FM: Sustainability is extremely important for consumers today, it has also become a key concern for the fashion industry, and the circular fashion is a large part of this movement. People are motivated to buy second hand and sell their unwanted items for many different reasons.  Some of the most common ones include: building a unique wardrobe, reducing the impact of their purchases on the environment, the attractive, often reduced, price points of vintage meaning that consumers can trade up to more quality pieces that are made to stand the test of time. More people are moving towards the idea of buying less but buying better, we reached a moment when we just can’t continue consuming in the way we have in previous years.  It’s time to rethink our consumption habits, more and more people have realized this over the last couple of years. 

WB: As a pioneer in the space, how do you make use of technology to push the circular fashion movement? 

FM: Vestiaire Collective was launched over ten years ago as an online resale community platform which really disrupted the ecosystem at the time, it allowed customers to buy and sell desirable preloved fashion in a trusted and inspiring environment, so technology has always been a key aspect of our business.  We are now focused on being an app first business where we unite our global community of over 10 million buyers and sellers together through the app.  We are constantly improving and upgrading the app, introducing new gamification features which empower our community.  For instance, we launched a Newsfeed earlier this year which allows buyers to follow their favorite sellers allowing them to receive instant notifications when new items or price drops from their favorite sellers occur.  We’re also in the pilot phase for our buyer seller chat which is another tech feature which will allow the community to engage and communicate in a more fluid way.  

Vestiaire Circular Economy Sustainable Fashion Featured on WOMANBOSS
2018 Campaign – Vestiaire Collective

The Smart Side of Fashion 

To further their agenda, Vestiaire Collective launched a quarterly report called The Smart Side of Fashion.  

FM: We recently launched a report called The Smart Side of Fashion which explores recent trends in resale, notably exploring the rise of sustainability and the impact of the current crisis which has challenged society at large to reconsider its values and behavior. It has influenced us to rethink the way we use our wardrobes and redefine the way we consume fashion. This era really asks us to look into the smart side of fashion, for instance by buying pre-owned on a platform like Vestiaire Collective. 

From an environmental perspective, buying pre-loved clothing allows you to enter a circular economy by giving a longer lifetime to your items and extending the lifespan of other people’s pieces. Extending the lifespan of a piece by just 9 months can reduce its annual carbon, water and waste footprint by 20-30%. This means in general you’re taking fewer resources from planet Earth. It also allows you to trade up and access more quality pieces that are made to stand the test of time and will stay in circulation for much longer. 

Vestiaire Circular Economy Sustainable Fashion Featured on WOMANBOSS

At a time when consumers are becoming more conscious of where, how and with whom they spend their money, it is essential for companies to take a deeper look into their processes and the makeup of their business in relation to sustainability. As more pre-loved shopping options and C2C brands emerge, we as buyers can make more practical and green choices when purchasing today to help secure the Earth’s future tomorrow. 

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