Dive Brief:
- Luxury digital retailer Mytheresa has expanded its partnership with online luxury reseller Vestiaire Collective as of Tuesday to include all customers in Europe and the U.S., according to a Monday press release sent to Fashion Dive.
- Mytheresa customers in both regions can sell pre-owned ready-to-wear apparel, footwear, handbags and accessories through a dedicated e-commerce page, and once an item is approved and authenticated, Mytheresa customers receive an instant store credit. Previously, the program, which began in June 2021, was designed only for Mytheresa’s top customers in Europe, per the release.
- Customers wishing to list a product for resale will be prompted to enter information about their item online, and Vestiaire provides a quote based on those details. Once something is accepted for resale, Mytheresa store credit will be instantly awarded, per the release. The companies have also installed a dedicated Mytheresa x Vestiaire Collective team to assist customers with the process.
Dive Insight:
Within the original program’s first year, both companies expanded it to include select customers in the U.S., and the release stated that since its 2021 launch, customers have listed more than 26,000 pieces for resale.
“We are excited to extend our successful service offer to all Mytheresa customers, while deepening our ever-growing partnership with Vestiaire Collective,” Michael Kliger, CEO of Mytheresa, said in the release. “We are committed to delivering a seamless and responsible luxury shopping experience. Therefore, offering our loyal customers a quick and easy way to give new life to their pre-loved designer pieces is highly important to us.”
Expanding the partnership is an important part of Vestiaire’s circularity mission, said Maximilian Bittner, Vestiaire Collective’s CEO.
“It also demonstrates the demand for the unique service Vestiaire Collective offers to fashion enthusiasts and reflects the consumer's need for resale. We know our expertise in authentication and our trusted platform will ensure a seamless selling experience for every Mytheresa customer.”
The luxury e-commerce space has been going through a challenging period in recent months with the late 2023 sale of Farfetch, the March bankruptcy of Matches and Richemont’s continued efforts to offload its struggling YOOX-Net-a-Porter platform. However, Mytheresa’s April Q3 earnings report predicted net sales growth ranging from 8% to 13% for fiscal 2024, making it one of the only bright spots in the high-end digital fashion field.
Meanwhile, Vesitiaire has also been doubling down on its luxury reputation.
The company has now banned from its platform more than 60 brands it considers to be fast fashion and “therefore harmful to the environment.” It’s also leaning heavily into luxury vintage goods with the March relaunch of its Archive Room, which offers a catalog of high-end brands including Hermès, Chanel, Yves Saint Laurent, Balenciaga and Dior.
