Vestiaire Collective achieves B Corp certification
Vestiaire Collective has become the first resale fashion platform to receive B Corporation certification, and it is challenging other resale platforms, fashion brands and industry players to join.
This achievement is part of Vestiaire’s sustainability and inclusion roadmap, explained the company, and follows a rigorous certification process from B-Lab, which assesses social and environmental performance, transparency, accountability, as well as demonstrating that they use profits and growth to a greater end.
Vestiaire Collective has been classified as a ‘Benefit Corporation,’ which B Corp explains reflects the firm’s commitment to the highest social and environmental standards.
The assessment also included significant achievements in the ‘Workers’ and ‘Governance’ areas. In 2020, the company appointed a chief sustainability and inclusion officer and launched five employee diversity and inclusion task forces, including Ethnic diversity, LGBTQIA+, Women empowerment, Disability and Equal opportunity. The company boasts 500-plus employees across France, Germany, the US, Hong Kong and Singapore. 60 percent are women with all staff being from 48 nationalities.
Fanny Moizant, Vestiaire Collective co-founder and president, said in a statement: “We are incredibly proud to become the world’s first globally operating and large B Corp Certified 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.”
Vestiaire Collective becomes first resale fashion platform to receive B Corp certification
The Vestiaire Collective sustainability and inclusion roadmap has four focus areas: Being exemplary as a company; Improving the footprint of its operations; Empowering its community of users, and Triggering systemic change in the industry.
Key targets include reaching a net climate benefit by the end of 2025 by reducing its carbon footprint by 25 percent and avoiding more emissions than it emits, as well as develop tools and incentives for its community of users to shop sustainably and to be a fair and diverse employer.
In addition, Vestiaire also wants to work with the brands, institutions, NGOs and policymakers to accelerate the advent of a circular economy of commons over a linear economy focused on individual property, as well as advocate for more women in tech.
Dounia Wone, Vestiaire Collective chief sustainability and inclusion officer, said: “After having created our Sustainability and Inclusion Team a year and a half ago, it is a great reward to be awarded 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.”
Augustin Boulot, executive director at B Lab France, added: “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.”