Max Bittner on the rise — and rise — of fashion resale
Vestiaire Collective is one of the leaders in the fast-growing fashion resale segment. Earlier this year, in its latest round of funding, the luxury resale platform achieved a valuation of $1.7 billion. Max Bittner, Vestiaire Collective’s CEO, attributes this success to a number of factors, including ease of transactions, pandemic-driven closet clean-outs and shifting consumer values. But he also acknowledges the challenges that lie ahead as Vestiaire Collective scales, particularly when it comes to verifying the authenticity of products in the face of ever-more sophisticated counterfeits. Bittner’s insights are featured in the fifth episode of The BoF Show, now streaming on Bloomberg Quicktake. Here, we share the full interview with Bittner, exclusively on The BoF Podcast. Watch the fifth episode of The BoF Show, “Resale: Inside the $130 Billion Secondhand Fashion Market” Explore the new report from BoF Insights, “The Future of Fashion Resale” here.
Maria Raga on why community is central to Depop’s success
The CEO of the online peer-to-peer marketplace believes the platform’s ability to connect people sets it apart from typical fashion e-commerce. In June 2021, online marketplace Etsy announced plans to acquire Depop for $1.6 billion. The move was yet another sign of growing interest in the burgeoning fashion resale market, which according to BoF Insights, is now worth $130 billion globally. CEO Maria Raga describes Depop as “combining elements from Instagram and eBay”. The platform is skewed towards lower-priced product exchange between younger traders, almost all of them 26 and under. Raga believes that it’s Depop’s community aspect — facilitating not just online transactions, but also person to person interactions — that attracts these all-important Gen-Z shoppers. Raga’s insights are featured in the fifth episode of The BoF Show, now streaming on Bloomberg Quicktake. Watch the fifth episode of The BoF Show here.
The Dematerialised on the Rise of Virtual Fashion
Marjorie Hernandez and Karinna Nobbs are the co-founders of The Dematerialised — a Web 3.0 marketplace for authenticated virtual goods, which they describe as “the digital department store of your dreams.” They’re part of a new wave of pioneering entrepreneurs challenging the luxury status quo and creating a new reality for fashion. In the fourth episode of The BoF Show, now streaming on Bloomberg Quicktake, they share their thoughts on gaming culture and the metaverse — and explain why they believe virtual fashion will revolutionise the industry as we know it. Here, we share the full interview, exclusively on The BoF Podcast. Watch the fourth episode of The BoF Show, “Dematerialisation: Why the Metaverse Is Fashion’s Next Goldmine” Explore the new report from BoF Insights, “The Opportunities in Digital Fashion and Avatars” here.
Ian Rogers: “Five years from now, we will have closets where we share our digital collections”
Ledger’s Chief Experience Officer explains how — and when — fashion should tap into the NFT gold rush, as featured in the fourth episode of The BoF Show, now streaming on Bloomberg Quicktake. Ian Rogers moved to Paris from Silicon Valley in 2015 when he was appointed Chief Digital Officer of LVMH, acting as a digital whisperer to C-suite luxury executives. Today, as Chief Experience Officer of Ledger — a security system that provides protection for digital currencies — he is uniquely positioned to speak to the opportunities being created as crypto technologies, gaming and fashion converge. His insights are featured in the fourth episode of The BoF Show, now streaming on Bloomberg Quicktake. Here, we share the full interview with Rogers, exclusively on The BoF Podcast. Explore the new report from BoF Insights, “The Opportunities in Digital Fashion and Avatars” here. Watch episode 4, 'Why the Metaverse Is Fashion's Next Goldmine' here.
Sinead Burke: ‘Fashion has the power to change how society views people.’
Sinéad Burke refuses to be excluded, despite fashion’s poor record on welcoming people with disabilities. In a wide-ranging interview, featured in the third episode of The BoF Show, Sinéad reminisces on her fashion journey — from calling out the industry for entrenched behaviours, at BoF VOICES in 2017; to advising luxury brands as Founder & CEO of consultancy “Tilt the Lens”. Here, we share the full interview exclusively on The BoF Podcast. Watch the third episode of The BoF Show, “Belonging: The Business Case for Diversity in Fashion”