Mytheresa opens up to the resale of second-hand items by signing an alliance with Vestiaire Collective
Madrid – The fashion industry, and specifically that of fashion linked to the luxury sector, is today more circular and sustainable than yesterday, after the alliance signed by the online commerce platform specialized in luxury items Mytheresa and the of second-hand items Vestiaire Collective. An agreement by virtue of which, and for the first time as regards a multi-brand platform specializing in luxury brand items, Mytheresa will allow its customers, from its own platform, to resell those items that they no longer want to Vestiaire, receiving exchange a payment in credits that can be used in the acquisition of new items in the Mytheresa e-commerce. An initiative thus pioneering, and as of today, June 9, already in operation, which will allow not only to increase the attractiveness of the articles of luxury firms that are already marketed through both platforms, but in that way to lengthen its lifespan, driving a more fully circular fashion industry and world as a result.
"We are very happy to collaborate with Vestiaire Collective in this unique and innovative project", "confident that with this exclusive service we are providing a real benefit to our customers, since they can give a second life to their fabulous luxury items", we explains Michael Kliger, CEO of Mytheresa, through a statement. "In addition," adds Kliger, "this collaboration allows us to help drive change in the fashion industry by incorporating circularity into our business model." A value that the new generations of consumers are increasingly demanding, which is why "we see enormous potential in this project and we are looking forward to expanding it and offering it to more clients, categories and markets in the coming months."
“We are very happy to join Mytheresa to present our service and promote our passion for circularity”, adds Fanny Moizant, president and co-founder of Vestiaire Collective. "We are excited to see how this unique initiative extends to a luxury digital platform," and "can't wait to see how Mytheresa's loyal customers respond." Through this alliance, "we will continue to promote the message about the importance of resale to achieve a more sustainable fashion system and we will continue to collaborate and fight side by side with brands, encouraging their customers to adopt circular fashion by selling what they no longer use.
From bags to ready-to-wear garments
Thus, as part of this commitment to promote the transition of the industry, and of consumers, towards more sustainable practices committed to the proper use of raw materials and the resources with which our planet provides us, the new service that comes into operation today it will do so through a system organized in different stages, which will scale and open up to a greater number of clients as it settles among Mytheresa's clients.
In this way, during this first initial phase of its launch, the multi-brand online commerce platform will invite its best European customers to participate in the initiative, selling the items that they no longer want from the "bags" category and signed for approximately 20 luxury brands. Both parties maintain the intention of extending the service to a greater number of Mytheresa customers, as well as offering it in all categories of products for sale, including prêt-à-porter garments, and expanding it to a greater number of brands by the end of this same year of 2021.
Second-hand items in exchange for credits for the purchase of new products from luxury brands
To make use of the service, they detail from both platforms, Mytheresa users should only access the area dedicated to this collaboration "Mytheresa X Vestiaire Collective" enabled within the platform. Once there, users must complete a simple form, after which they will directly receive an offer with the price set for their second-hand item.
Once the offer is accepted, the item will be sent to the Vestiaire Collective facilities, where the platform's team of experts will submit it to a quality control and authentication, after which Mytheresa customers will receive payment in store credits. that they will be able to use, immediately, in acquiring new articles in Mytheresa. While the items sold will go on to swell the extensive catalog of second-hand products that make up Vestiaire Collective's offer, on whose portal they will be made available to its millions of customers from different parts of the world. In any case, this is a process for which a team has been set up that will be in charge of guiding customers, in a personalized way, to facilitate their experience and solve any doubts that may arise as they make use of this new service.
"This is the first time that a luxury multi-brand platform has embraced the resale of luxury fashion in an integral way," both companies underlined in a joint statement. Being this "an initiative" that maintains "the objective of promoting circular fashion", signed "among leaders of the sector" in its commitment to "support the transition of the fashion industry towards more sustainable practices", in this case "through a reselling service dedicated to Mytheresa customers”.
