Vestiaire Collective to open physical space inside Selfridges
One of the biggest names in online fashion resale is linking up with one of the world’s top department stores for a year-long physical store with Vestiaire Collective set to open at Selfridges on Oxford Street on October 30.
The opening was announced earlier this month and will be the company’s first ‘permanent’ physical space, covering 40 Square metres in the destination store. The concession will feature pieces by number of brands, including some of the biggest names in designer fashion.
Does this mean that physical shops will be a big focus for the company in future? That unlikely as the retailer is very tech-focused and committed to online selling as its primary activity. But pop-ups to help with its marketing are a key activity and it has experimented with several already, even though this one will be its most durable version of a pop-up.
The 10-year-old company recently opened a temporary boutique in Le Bon Marché in Paris that will be open until the end of this month, and at the time also flagged its coming link with Selfridges.
At the time, in an interview, CEO Maximilian Bittner referred to the Selfridges location as a “permanent store” and it’s perhaps no surprise that the company has chosen the UK for this extended pop-up. The former Lazada executive also said the UK was the first international market Vestiaire Collective launched “following strong organic interest from the region” and that interest appears to have continued.
But the link-up with Selfridges also has the benefit of targeting international customers, especially from China whose shoppers flock to the department store.
The pre-owned luxury market was estimated to be worth around €22 billion in the latest Altagamma and Bain luxury report back in January, with demand strongest in European markets such as France and Germany.
But the potential in other markets is huge. Only this week, Vestiaire Collective co-founder and president Fanny Moizant told Luxury Daily that Asia Pacific is also expanding with the firm's VIP consignment services very popular in Hong Kong and the region also being a good source of high-quality items to be sold on the site.
The company linked up with multi-brand retailer Joyce in Asia earlier this year and its Selfridges opening will come after other European physical pop-ups. These include the aforementioned Paris store and one in Milan focused on sustainability in a partnership with Eco Age and Camera Nazionale della Moda.
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