Mytheresa teams up with Vestiaire Collective on luxury resale service
Mytheresa has partnered with resale app Vestiaire Collective on a new resale service to drive more sustainable consumption in the luxury fashion space.
The online luxury platform will be inviting its top clients to participate in the programme, which offers them access to a dedicated web platform where they can upload information about their pre-loved items and receive a resale price quote.
Once an item has arrived at Vestiaire Collective and has undergone quality and authentication checks, Mytheresa customers will receive immediate payment in the form of a Mytheresa store credit.
A dedicated Mytheresa X Vestiaire Collective team will support the customers throughout their journey with personal assistance. Items sold by Mytheresa clients will be available to purchase worldwide on Vestiaire Collective.
In the initial phase of the programme, only handbags from a list of 20 designers from customers in Europe will be accepted, however by the end of the year the service will be rolled out to more customers with further categories, including ready-to-wear, added.
Mytheresa CEO Michael Kliger said: “We are excited to be entering this unique and innovative partnership with Vestiaire Collective. We are confident that with this unique service we are providing a real benefit to our customers giving their beautiful designer pieces a second life. It further allows us to help drive change in the fashion industry by incorporating circularity into our business model. We see a huge potential for the program and can’t wait to extend it to more customers, categories and markets in the next months.”
Fanny Moizant, President and Co-Founder of Vestiaire Collective added: “We're thrilled to partner with Mytheresa to showcase our service and our passion for circularity. We're also excited to see this unique initiative extend to a digital luxury platform, and we can't wait to see how their loyal customers respond to it! We're going to keep amplifying the voice of resale as a crucial part of achieving a more sustainable fashion system. And we'll continue partnering and fighting side-by-side with brands and retailers, encouraging their customers to embrace circular fashion by reselling pieces they no longer wear."
Vestiaire Collective was launched as a peer-to-peer resale platform in Paris in 2009 but has since expanded its services to work directly with brands, via its "Brand Approved" programme. Earlier this year it announced a partnership with Kering-owned Alexander McQueen under which the luxury house's best customers would be invited to resell pre-loved items on the app in exchange for credit against new purchases.
In March it was revealed that Kering, which also owns Gucci and Saint Laurent among others, had taken a circa 5% stake in Vestiaire Collective as part of a €178m financing round for the luxury resale platform.