Vestiaire Collective—a luxury, second-hand retailer—is the first in resale retail to become a B Corp certified company. This means that the retailer is certified for its commitment to planet and people.
According to Fanny Moizant, co-founder and president of Vestiaire Collective, “We are incredibly proud to become the world’s first globally operating and large B Corp Certified resale platform! 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.”
The second-hand retail market is projected to grow by $77 billion, and with Vestiaire Collective’s B Corp certification, resale platforms will likely see a tremendous push towards sustainability. Moizant continued, “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.”
The company’s B Corp status is more than just a win for the planet and its people; it will encourage other resale platforms to focus on “workers” and “governance”, the two areas Vestiaire Collective is praised for. The main criteria for achieving a B Corp certification is that the candidate company must be a force for good. And Vestiaire Collective has proven its status as a “force for good” brand by igniting the change for reuse and resell. Will the other resale platforms follow suit?
Apart from garnering B Corp certification, companies like Kering and brands like Stella McCartney are pushing for a circular economy.