Vestiaire Collective Bans Fast Fashion
Making it the first and only global designer marketplace to do so.
Vestiaire Collective just became the first and only designer marketplace to ban fast fashion brands from its platform, a move that many luxury shoppers can get behind.
From today, the platform will be actively banning listings relating to fast fashion, prohibiting users from buying or selling them. According to Business of Fashion, the decision comes as part of the collective’s three-year plan to change the way that shoppers consume fashion, hoping to play a small part in eliminating the industry’s major overconsumption problem. BoF also stated that roughly 5% of Vestiaire’s earnings will be impacted by the new decision.
“We wanted to reduce waste in people’s wardrobes, and that waste is mainly coming from fast fashion because it has no value, and as a consequence very little resale value,” said Vestiaire’s President and Co-Founder Fanny Moizant in a statement. “This is really us trying to change the industry and move the needle at a bigger level,” she added.
As part of the platform’s new rules, Vestiaire Collective will work on creating a list of criteria that determines whether or not a brand comes under the term ‘fast fashion,’ in collaboration with an external agency. Brands will be judged against that list, which will determine their fate on the platform.
The marketplace is also set to partner with The Or Foundation, a Ghana-based charity situated within Kantamanto Market in Accra, one of the largest secondhand markets in the world. The charity hopes to fight fashion waste by developing stronger regulations for the products coming into the market, hoping to intercept the addition of fast fashion clothing.
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