Vestiaire Collective, the resale platform for pre-loved fashion, announced that it has achieved B Corp certification – the first second-hand fashion platform in the world to achieve this coveted status.
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Following B Lab’s rigorous certification process, the company is now classified as a ‘Benefit Corporation’, reflecting its firm commitment to the highest social and environmental standards. This also means that Vestiaire Collective commits to continue to take concrete actions around social and environmental performance, transparency, accountability and to take all future decisions with the aim of building better business.
The assessment includes significant achievements in the ‘Workers’ and ‘Governance’ areas, which Vestiaire Collective places its employees at the heart of everything it does. Vestiaire was recognised for granting the same high standards of social benefits to its 300 and more global employees in Paris, New York, Berlin, Singapore and Hong Kong.
In terms of governance, all executive members are incentivised and involved with sustainability & inclusion criteria, underlining the company’s financial commitment to taking concrete actions.
As part of its founding mission to transform the fashion industry, Vestiaire Collective is now challenging other resale platforms, fashion brands and industry players to commit to taking B Corp certification.
Along with encouraging consumers to become active members of the circular economy, achieving B Corp certification is at the core of Vestiaire Collective’s sustainability ambitions to transform the fashion industry for a more sustainable future.
Fanny Moizant, Vestiaire Collective Co-Founder & President said, “We are incredibly proud to become the world’s first globally operating and large B Corp resale platform! It’s a huge step on our way to transforming the fashion industry. Vestiaire Collective was born with the idea that we can drive change for a more sustainable future. Today, this recognition is more evidence that we can make it. We are extremely honoured to join a growing and pioneering community and we hope it is only the beginning of a broader move that will trigger even more commitment among our industry and community of fashion activists.”
Augustin Boulot, Executive Director B Lab France said, “We are thrilled to have Vestiaire Collective join our community of over 4,000 B Corps around the world. As the resale industry continues to grow exponentially, we are excited to see players like Vestiaire Collective pave the way for a better way to do business, inspiring both companies and individuals to put people and the planet first.”
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Dounia Wone, Vestiaire Collective Chief Sustainability and Inclusion Officer said, “After having created our Sustainability & Inclusion Team a year and a half ago, it is a great reward to obtain this certification. It is the result of unprecedented collective mobilisation and we would like to thank and congratulate our colleagues, community, partners, and our investors who all have contributed to this success. This prestigious certification will hopefully inspire other members of the ecosystem. To that end we are ready to share tips for the certification process as part of our commitment to create a more sustainable fashion industry.”
Launched in Paris in 2009, Vestiaire Collective is in over 80 countries and have over 7,000 brands, with offices in Paris, New York, Berlin, Singapore and Hong Kong.