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Lux­ury fash­ion re­seller Ves­ti­aire Col­lec­tive has changed the game for high-end pre-owned good­ies. Co-founder FANNY MOIZANT tells LARA MOR­RI­SON her tips for suc­cess

#Legend - - CONTENTS / JULY | AUGUST -

Ves­ti­aire Col­lec­tive co-founder Fanny Moizant shares her tips for suc­cess with Lara Mor­ri­son

BORN AND RAISED in France, fash­ion mogul Fanny Moizant grew up sur­rounded by clothes. Fol­low­ing in her mother's foot­steps with an en­tre­pre­neur­ial spirit, Moizant is now chang­ing the fash­ion game with Ves­ti­aire Col­lec­tive, the leading global mar­ket­place for pre­mium and lux­ury pre- owned items. With an ap­petite for lux­ury and high- end fash­ion, Hong Kong is the com­pany's new­est mar­ket play­ground and home to its fi rst of­fice in Asia. From mother­hood to per­sonal style to the com­pany's op­er­a­tion and strat­egy, Moizant shares all the ins and outs of her global em­pire.

What are your ear­li­est mem­o­ries of work­ing with your mother in her fash­ion bou­tiques and in what way has that in­flu­enced your work ethic to­day?

I've al­ways loved fash­ion, and grow­ing up, I used to help my mother in her cloth­ing bou­tique dur­ing week­ends and school hol­i­days. I learned so much from watch­ing her work, and got in­volved with ev­ery­thing from un­box­ing de­liv­er­ies to in­ter­act­ing with cus­tomers and be­ing a sales­woman. My mother taught me that when it's your busi­ness, it takes hard work and de­ter­mi­na­tion. You have to in­spire your team to suc­ceed; it's only you that can make it hap­pen.

Was it dif­fi­cult, start­ing your own com­pany and be­ing a mother at the same time?

It's about bal­ance and us­ing your time ef­fec­tively, but also be­ing ded­i­cated and de­ter­mined. I also have great co-founders and an in­cred­i­bly sup­port­ive fam­ily, which makes so much dif­fer­ence.

What was the most chal­leng­ing part about leading the com­pany’s Euro­pean ex­pan­sion?

Un­der­stand­ing the dif­fer­ent cus­tomers in the dif­fer­ent mar­kets, I re­lo­cated from Paris to Lon­don to re­ally get un­der the skin of our cus­tomers in the UK; it helped me so much to live the way a Lon­doner lives. It com­pletely changes your per­spec­tive.

What made you choose Hong Kong for the next phase of growth?

We saw or­ganic growth in Hong Kong in 2016, so it was the next nat­u­ral step. I like chal­lenges and I like to keep mov­ing and grow­ing. It was time for a new chal­lenge!

Has Hong Kong’s re­sponse to Ves­ti­aire Col­lec­tive been pos­i­tive so far?

Since the launch of Ves­ti­aire Col­lec­tive in Hong Kong in May 2017, we have seen an amaz­ing ap­petite in the city for high- end lux­ury fash­ion – es­pe­cially for hand­bags. Be­fore ar­riv­ing in Hong Kong, I was told that in Asia, peo­ple grav­i­tate to­wards new items.

After be­ing here for more than a year, though, I fi nd that peo­ple are open­ing up to the sec­ond-hand mar­ket. There is an in­creas­ing de­sire to shop for gen­uine, top- qual­ity prod­ucts and Ves­ti­aire Col­lec­tive's team of au­then­ti­ca­tion ex­perts are able to fi ll that void. We have also opened our VIP ser­vice, which is fac­ing huge de­mand to the ex­tent that the team has had to put clients on the wait list, as we have been in­un­dated with re­quests!

What’s your over­all strat­egy for Hong Kong’s mar­ket?

Our mis­sion has al­ways been to spread aware­ness about the sec­ond-hand mar­ket and to pro­mote the sus­tain­abil­ity of fash­ion. Our ex­per­tise in au­then­ti­ca­tion and qual­ity con­trol re­as­sures buy­ers that ev­ery­thing they pur­chase on the site is gen­uine and in top con­di­tion. At the same time, we make it easy for sell­ers to detox their wardrobes through the VIP ser­vice or the “Do it Your­self” chan­nel, which is about to launch in Hong Kong in mid-July.

Where do you see your­self and the com­pany in fi ve years?

Ves­ti­aire Col­lec­tive aims to build a global fash­ion com­mu­nity and I still see us be­ing very in­volved in this move­ment in the years to come. Per­son­ally, I still see my­self some­where in Asia, hope­fully in Hong Kong, as I feel this is very much the hub of the re­gion. The unique en­ergy and vi­brancy of the city is un­de­ni­able, and we're in a great po­si­tion to build the most in­spi­ra­tional global mar­ket place ded­i­cated to pre-loved fash­ion.

Now you’re be­com­ing more global, will you be trav­el­ling much more?

We have been con­sis­tently ex­pand­ing our global foot­print, and right now with our Asia-Pa­cific hub based in Hong Kong but also op­er­at­ing in Sin­ga­pore and Aus­tralia, there is al­ready a sig­nif­i­cant amount of travel – not to men­tion con­stant com­mu­ni­ca­tion with our head­quar­ters in Paris. In the near fu­ture, we are look­ing to launch in other mar­kets in the re­gion, in­clud­ing Ja­pan and Korea, so I an­tic­i­pate in­creas­ing travel op­por­tu­ni­ties.

Can you iden­tify any global and lo­cal trends in what peo­ple buy and search for?

Our best-sell­ing cat­e­gory glob­ally is hand­bags – the brands and mod­els dif­fer slightly per mar­ket, but the Chanel Time­less tends to be the best-sell­ing across the board. In Hong Kong, we have a lot of Her­mès buy­ers; in the UK, Gucci is pop­u­lar. Re­cently, the Her­mès Constance bag has been sell­ing re­ally well in Hong Kong as has the Her­mès Gar­den Party bag. It's re­ally in­ter­est­ing to see the dif­fer­ence in what our mem­bers are buy­ing in each coun­try.

Do you use the site your­self? If so, what is your favourite or most re­cent pur­chase?

Yes, of course! I use the app on my phone and I have count­less alerts set up so I know when new items come on­line. My best pur­chase has to be my Her­mès cuff – I searched ev­ery­where for it, I called pretty much ev­ery store in Lon­don and Paris, and no one had it. Then one day, I had a Ves­ti­aire alert and it was on­line. I very, very quickly added it to my bag! It was my best buy; I wear it all the time.

Coun­ter­feit prod­ucts are quite an is­sue across Asia. Do you see this as threat­en­ing in terms of busi­ness? How do you en­sure that the items are au­then­tic?

We have an amaz­ing team of au­then­tic­ity and qual­ity- con­trol ex­perts in Hong Kong, Paris and New York. They have worked for the lux­ury de­sign houses or auc­tion houses, so they have amaz­ing ex­pe­ri­ence. We also work re­ally closely with the brands to en­sure we don't ac­cept any­thing that we're un­sure about. In 2012, we signed the Fight Against On­line Coun­ter­feit­ing Char­ter along­side brands such as Chanel, LVMH and Chris­tian Louboutin to help en­sure a zero-tol­er­ance ap­proach to coun­ter­feit prod­ucts. This char­ter en­ables us to work to­gether to fight this is­sue hand in hand.

What fac­tors do you take into con­sid­er­a­tion when pric­ing items to be sold on­line?

Prices are based on the con­di­tion of an item and its pop­u­lar­ity or rar­ity, but our ex­perts also look at sim­i­lar items that have sold on the site and the price they re­cently sold for; they use this as a guide. The fi rst el­e­ment we look at is the con­di­tion and the de­mand for a par­tic­u­lar item. Then we re­fer to our sec­ond-hand price ref­er­ence al­go­rithm, which is unique to Ves­ti­aire Col­lec­tive's IT sys­tems and has been in ex­is­tence ever since we fi rst launched the com­pany. This helps us ori­en­tate the sell­ers to de­ter­mine the right price to sell fast so they can re­cu­per­ate the max­i­mum value of that spe­cific item.

Where would you like to open an of­fice next and why?

There are nu­mer­ous op­por­tu­ni­ties in the re­gion and we will have to take it step by step, but it does make sense for us to launch in mar­kets where we are al­ready ex­pe­ri­enc­ing or­ganic growth.

De­scribe your per­sonal style.

Clas­sic chic, but with a twist – a clas­sic white shirt, but with ex­ag­ger­ated cuff s, or a tai­lored trouser with a side stripe. I in­vest in qual­ity pieces, as I know if I love it, I'll wear it for­ever. I'm su­per-strict and have a one-in, one- out wardrobe pol­icy.

Who is your leg­end?

My mother has al­ways been a huge source of in­spi­ra­tion to me and a true leg­end in my eyes.

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