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Vestiaire Collective Sees Asia s Luxury Shoppers Warm to Secondhand Gucci | News & Analysis
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Apparel Reseller Vestiaire Sees Asia’s Luxury Shoppers Warm to Secondhand Gucci
(Bloomberg) Fanny Moizant isn’t used to the cold shoulder. In the U.S. and Europe, she’s celebrated for the success of Vestiaire Collective SA, her luxury fashion resale site. But in Hong Kong, she was snubbed for the very idea of secondhand clothes.
“They said, ‘We don’t want to align with the resale companies. It is not that chic,’” Moizant, president and co-founder of Vestiaire, said about the time she moved to the city in 2017.
That’s starting to change. Asian consumers are beginning to warm to Vestiaire, which is now in Hong Kong, Singapore and Australia, with Korea and Japan next on the horizon. Its orders volume doubled in a year when retailers worldwide were crippled by the pandemic much of that thanks to Asia, where the number of new secondhand sellers jumped 98% and orders surged by 122%.
Rebecca Choong Wilkins and Jinshan Hong, Bloomberg News Employees inspect and authenticate pre-owned luxury goods at the warehouse. , Bloomberg
(Bloomberg) Fanny Moizant isnât used to the cold shoulder. In the U.S. and Europe, sheâs celebrated for the success of Vestiaire Collective SA, her luxury fashion resale site. But in Hong Kong, she was snubbed for the very idea of secondhand clothes.
âThey said, âWe donât want to align with the resale companies. It is not that chic,ââ Moizant, president and co-founder of Vestiaire, said about the time she moved to the city in 2017.
Thatâs starting to change. Asian consumers are beginning to warm to Vestiaire, which is now in Hong Kong, Singapore and Australia, with Korea and Japan next on the horizon. Its orders volume doubled in a year when retailers worldwide were crippled by the pandemic much of that thanks to Asia, where the number of new
Vestiaire Sees Asia s Luxury Shoppers Warm to Secondhand Gucci
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