Nowadays the fashion industry grapples with a tug-a-war between consumerism – having the best and most cult items now – and remaining sustainable for future fashionable generations. While solutions are certainly not “one-size-fits-all”, Vestiaire Collective may have just found the formula to sartorial success. Today in Paris, the leading global resale platform for pre-loved fashion has announced that it has achieved B Corp certification. It is the first second-hand fashion platform in the world to achieve this coveted status.
What is B Corp, you may ask? B Corp ™ is an international community of impact companies, management tools and free impact measurement, as well as a label that certifies companies that meet high social and environmental standards.
Vestiaire Collective was particularly recognised for significant achievements in the ‘Workers’ and ‘Governance’ areas. Under governance, all executive members are incentivised and involved with Sustainability & Inclusion criteria, underlining the company’s financial commitment to taking concrete actions. The company boasts 500-plus employees across France, Germany, US, Hong Kong and Singapore. 60 percent are women with all staff covering 48 nationalities.
The retail platform has always led the charge in transforming the fashion industry with cyclical practices. As part of its founding mission, Vestiaire Collective is now challenging other resale platforms, fashion brands and industry players to commit to taking B Corp certification.
Fanny Moizant, Vestiaire Collective Co-Founder & President said: “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. 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.”
Augustin Boulot, Executive Director B Lab France added: “We are thrilled to have Vestiaire Collective join our community of over 4,000 B Corps around the world. As the resale industry continues to grow exponentially, we are excited to see players like Vestiaire Collective pave the way for a better way to do business, inspiring both companies and individuals to put people and the planet first.”
Vestiaire Collective was founded in 2009 and encompasses 11 million members with over 7,000 brands available on its platform. Explore the website, here.