Vestiaire Collective becomes first resale fashion platform to receive B Corp certification

Vestiaire Collective, the platform selling pre-owned luxury goods, has raised £153.91 million in funding, six months after a previous funding round.
The new funds are now expected to fuel the retailer's expansion.
// Vestiaire Collective achieves B Corporation certification
// This is part of Vestiaire’s sustainability and inclusion roadmap

Vestiaire Collective has become the first resale fashion platform to receive B Corporation certification and is now challenging other resale platforms to join.

This achievement is part of Vestiaire’s sustainability and inclusion roadmap and follows a rigorous certification process from B-Lab.

This assesses social and environmental performance, transparency, accountability, as well as demonstrating that they use profits and growth to a greater end.

READ MORE: Vestiaire Collective hires former Pepsi boss as marketing vice president

Vestiaire Collective has been classified as a “Benefit Corporation” which B Corp explains reflects the firm’s commitment to the highest social and environmental standards.

The assessment also included significant achievements in the ‘Workers’ and ‘Governance’ areas.

Last year, the company appointed a chief sustainability and inclusion officer and launched five employee diversity and inclusion task forces, including Ethnic diversity, LGBTQIA+, Women empowerment, Disability and Equal opportunity.

The company boasts 500-plus employees across France, Germany, the US, Hong Kong and Singapore. 60 per cent are women with all staff being from 48 nationalities.

“We are incredibly proud to become the world’s first globally operating and large B Corp Certified resale platform,” Vestiaire Collective co-founder and president, Fanny Moizant said.

“It’s a huge step on our way to transforming the fashion industry. Vestiaire Collective was born with the idea that we can drive change for a more sustainable future.

“Today, this recognition is more evidence that we can make it. We are extremely honoured to join a growing and pioneering community and we hope it is only the beginning of a broader move that will trigger even more commitment among our industry and community of fashion activists.”

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