Giglio.com Enters Secondhand With Vestiaire Collective
MILAN — Italy’s Giglio.com is the third luxury e-tailer to team up with Vestiaire Collective globally, entering the resale model, seen overall as a strong driver for the high-end sector.
Following in the footsteps of Mytheresa and LuisaViaRoma, which inked similar deals over the past couple of years, the publicly listed online shopping destination is leveraging Vestiaire Collective’s prowess and equity in the secondhand market to launch its own circular project.
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It will enable its customers to sell their previously worn fashions in exchange for credits to be spent on new goods on the e-commerce site. Giglio.com will offer clients adopting the service a premium on each sold item corresponding to 10 percent of the sold good’s value.
“This prestigious partnership seamlessly marries our value-driven trajectory in terms of environmental sustainability and circular economy awareness-raising approach in the fashion industry,” said Giuseppe Giglio, president and chief executive officer of Giglio.com.
The project kicks off Thursday and is extended to customers in Europe, the U.K. and the U.S. Both e-commerce platforms will launch a landing page dedicated to the initiative, which will involve around 50 brands at start.
“Providing our clients with the possibility to give a second chance to their garments is a new step toward a more responsible shopping experience, strengthening our positioning as trend setters in the sector,” Giglio said.
The retailer, which has operated five physical boutiques in Palermo, Italy, since 1965, and added an online platform in 1996, posted sales of 51.1 million euros in 2022, up 35 percent year-over-year. In 2021, the company landed on the Milan Bourse, listing its shares on the AIM Italia, the Stock Exchange’s program dedicated to small and medium-size companies.
Dounia Wone, chief impact officer at Vestiaire Collective, touted the partnership as another step in spearheading a circular transition of the fashion sector.
“We’re enthusiastic to keep collaborating with some of the most important players in the sector to shape a more sustainable future,” she said. “Our positive impact on the fashion industry grows as our collective [of partnering companies] increases,” she added.
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