French second-hand fashion retailer Verstiaire Collective is now offering second-hand fashion items to customers in South Korea via a new, fully localized service. This is the fourth localized service of this type after successful launches in Australia, Singapore and Hong Kong.
To meet demand and provide efficient local service, the fashion retailer not only opened a local branch in Seoul, but also opened its fifth authentication center, following Tourcoing in France, New York, Hong Kong and London. With a volume of 15 billion euros, the South Korean market is one of the ten largest for personal luxury goods.
“South Korea is a dynamic nation that is a world leader in technology, fashion and sustainability. With our launch in South Korea, we are not only meeting the huge demand on the second-hand market, but are also expanding the range for South Korean customers with our covetable catalogue. By offering affordable and sustainable alternatives to fast fashion, we are also strengthening our engagement in the global fashion ecosystem. We are sure that our good influence and positive energy will persuade the South Korean community so that in the end we can contribute to a better future together,” commented Fanny Moizant, co-founder and president of Vestiaire Collective, in a statement.
The fully localized service allows customers in South Korea to consistently buy and sell second-hand fashion items in the Korean language. Payment is in the local currency, the South Korean Won, while registration has been simplified by synchronizing with Naver and Kakao. Used items can be dropped off at local stores and picked up by a local shipping company. The fashion retailer anticipates South Korean members will embrace the “Make an offer” feature, which allows them to bid on items and negotiate with sellers.
“In just 13 years, Vestiaire Collective has become the world’s leading online second-hand platform, with sales in over 80 countries. Rapid market growth and innovative multi-channel adoption make South Korea the market with the greatest potential in Asia-Pacific. We’re excited to launch there, expanding our reach with a seamless localized service and opening up a massive new global community of potential buyers for South Korean sellers. We anticipate explosive growth in South Korea, which will naturally be followed by other regions in Asia Pacific,” adds Max Bittner, CEO of Vestiaire Collective.