Vestiaire Collective is entering China following three years of fast growth in Europe and the US. The question for Pawnstar will be how we collaborate or compete. Olivier Marcheteau, Vestiaire Collective’s COO made the following statement that was part of this piece on digiday:
“In China, it’s critical that we establish the brand DNA in the right way. There’s major opportunity: low competition, a growing market, and young luxury customers. We’re an entry point for luxury. We’re investing in this customer because that’s the magic of a global network. If you can open up the closets of luxury shoppers all over the world, you’re going to win.”
This Paris-based c-to-c secondhand luxury market with a twist offers an authentication process and sits on USD 130 million in funding. It is the main global competitor for San Francisco-based realreal.com, which has USD 40 million earmarked for expansion in Australia, Canada and Hong Kong. With six million members in 47 countries, Vestiaire will be bringing a huge body of overseas product from which Chinese users can select, though they will have to deal with shipping and customs costs in that case. The main priorities for Vestiaire will be “onboarding Chinese sellers, office in Hong Kong, opening a logistics hub in China, both of which the company plans to complete by early 2018.”
Here’s a cool photoshoot they did with a blogger in Hong Kong.