E-tailer Mytheresa clubs up with Vestiaire Collective for resale service

Luxury manner e-tailer Mytheresa has teamed up with resale system Vestiaire Collective to release a new second-hand fashion service.

The tie-up allows Mytheresa customers to employ a dedicated web interface to sell their second-hand fashion - the procedure that will be run by Vestiaire Collective.

The programme will primarily be accessible for Mytheresa’s “top clients” in Europe to market second-hand bags from a list of around 20 high class designer brands in exchange for store credit.

The two companies then expect the service to expand to all or any product ranges, more brands and more Mytheresa customers by the finish of 2021.

Mytheresa enters resale market
Michael Kliger, the CEO of Mytheresa, described the partnership as “unique and progressive” and said it would help the business “drive change found in the fashion sector by incorporating circularity into our business design”.

“We see a huge probable for the program and can’t wait to extend it to more clients, categories and markets in the next months,” he said found in a release.

It’s a tie-up between two corporations experiencing different but similarly fast-growing market segments in the fashion industry.

Mytheresa is probably the leading players on the blissful luxury fashion e-tail scene, competing with rivals want Farfetch and Amazon’s recently announced Luxury Stores.

The Munich-based marketplace, like its competitors, has been reaping the benefits associated with consumers’ accelerated shift to online channels during the past year.

In the 90 days to March 31, the business reported a 47.5 percent upsurge in net sales to 164.8 million euros, while altered net income was 4.5 million euros, in comparison to an modified net lack of 0.1 million euros a year earlier.

In the same way, Vestiaire Collective is among the leading companies in the burgeoning resale market, competing with rivals like Vinted, Depop and ThredUp.

In March, the Paris-headquartered company announced the completion of a new 178 million euro (216 million dollar) financing rounded backed by Gucci-owner Kering and US-based hedge fund Tiger Global Management.

Kering chairman François-Henri Pinault referred to the booming resale marketplace as a “serious and deeply rooted pattern” as his company snapped up a 5 percent stake in Vestiaire Collective.

Commenting on the brand new partnership with Mytheresa, Vestiaire Collective president and co-founder Fanny Moizant explained: “We’re likely to preserve amplifying the voice of resale when a crucial portion of achieving a far more sustainable fashion system.

“And we’ll continue partnering and fighting side-by-side with brands and retailers, encouraging their buyers to embrace circular vogue by reselling parts they no more wear.”