NEW YORK – Fashion resale platform, Vestiaire Collective, has removed 30 fast fashion brands from its websites on the eve of Black Friday. The company said the move is part of its strategy to raise awareness about the negative environmental impact of the fast fashion industry while encouraging people to purchase fewer, higher quality clothing items.
Last Black Friday, the resale business announced a 3-year plan to progressively remove fast fashion brands from its platform. Vestiaire Collective says it will now remove 30 brands, including H&M, Zara, Uniqlo, Mango, Gap, and others.
“Fast fashion brands contribute to excessive production and consumption, resulting in devastating social and environmental consequences in the Global South. It is our duty to act and lead the way for other industry players to join us in this movement, and together we can have an impact,” said Dounia Wone, chief impact officer.
A message from the company’s founders on its website said: “Every year, the fashion industry produces 100 billion garments. Zara and H&M alone produce more than 1 billion garments per year. As we consume more and wear less, 92 million tons of textile waste is discarded on a yearly basis – most of it coming from fast fashion brands. This is enough to fill the Empire State Building every day, and has a major environmental and social impact.
“Every time you choose a pre-loved item on Vestiaire Collective instead of buying a new one, 90 per cent of the environmental impact is avoided. This is why we want to raise awareness of the importance of buying fewer, better quality fashion items.”
Second hand fashion has grown in popularity in recent years and there has been huge hype around resale as a business model. The growth of online resale platforms such as ThredUp, Poshmark, and Depop has offered consumers convenient ways to buy and sell pre-owned fashion items.
The luxury resale market, in particular, has seen substantial growth. Platforms like The RealReal and Vestiaire Collective have gained traction offering luxury items at more affordable prices.
Despite this, profitability has been a stumbling block for resale businesses and investors in this sector have yet to see any significant returns. In summer, ThredUp said it plans to reach profitability by the fourth quarter of 2023, while The RealReal reaffirmed its prediction that it will achieve profitability by 2024.
