If we were to say you were able to get your hands on authentic luxury brands for a fraction of the price, you would probably think you were dreaming, right? No need to pinch yourself, because this is exactly what the online retailer Vestiaire Collective is all about.
If you aren’t familiar with this amazing platform, allow us to change your life. Vestiaire Collective is the global leader for online luxury consignment and has just launched in Australia, allowing users to buy (and soon, sell) genuine luxury goods amongst a community of over six million global users. The Australian platform will include seasonal curation and localised editorial content, as well as partnerships with local social media influencers such as Margaret Zhang.
It works similar to eBay but with a few safety nets to protect buyers and sellers. Sellers submit an online form outlining the brand, condition, and price of the item, as well as supply a few photos. Vestiaire’s team then curates these items, and of the approximately 4000 products submitted each day, reject around 30 per cent that don’t meet the quality requirements of the site. Once approved, the photos are then deep-etched and uploaded to the site for users to browse. Once purchased, the seller is notified and supplied with a prepaid voucher to send the item to the nearest Vestiaire office. The item is checked to ensure it as the seller describes, and then goes through an authentication process to assure the buyer that the luxury goods are genuine.
Vestiaire has signed the ‘Fight Against Online Counterfeiting Charter’ in France to work alongside luxury brands to prevent the production and selling of counterfeit goods. To remain profitable, Vestiaire Collective keeps on average a 25 per cent commission. Founder Fanny Moizant states, “We didn’t invent second-hand [shopping], but we disrupted that market by building trust.”
The Australian platform is currently only open to buyers, but once the Hong Kong office is fully operating – hopefully by early 2018 – those in the Australian and Asian market will be able to submit their own items for sale. RIP my paycheque, which sacrificed itself for a pair of Chloé Susanna Velvet Ankle Boots.