Fanny Moizant, cofounder of French secondhand marketplace Vestiaire Collective, is leaving the company after 16 years at its helm.
Announcing her departure in a LinkedIn post on Tuesday, Moizant said the move was a result of “organisational changes” at the company. “This was not a decision I initiated, nor one I expected,” she said.
Vestiaire Collective, which specialises in luxury secondhand fashion products, was created in 2009 by Moizant and five other cofounders. Only one of the original cofounders, Sophie Hersan, now remains operational at the company.
The company underwent leadership changes at the end of last year, when CEO Maximilian Bittner, who had led the business since 2019, was replaced by then CFO Bernard Osta.
Vestiaire Collective told Sifted it is entering “a new phase of development” under the leadership of Osta, with a focus on “operational excellence, AI-enabled innovation, authentication leadership and an elevated experience for its global buyer and seller community.”
“Vestiaire Collective expresses its deep gratitude for Fanny’s extraordinary contribution, her leadership and her enduring impact on the business, the brand and the culture of the company,” it said. “We thank Fanny for her immense contribution and wish her continued success in her future endeavors.”
The scaleup has raised more than $560m since launching and was last valued €1.1bn in 2023.
Despite strong competition from Lithuanian secondhand marketplace giant Vinted, which is reportedly valued €8bn, Vestiaire Collective has made a strong mark in the sector, and has presence in 70 countries. It doesn’t share the size of its user base but last year told Sifted it had “millions” of members; Vinted claims 75m members.
Vestiaire Collective last reported EBITDA losses of €77m in 2023 and in recent years has been focused on reaching profitability. In an interview with Sifted last year Moizant said the business was “within an inch of profitability”.
Moizant said she did not know yet what she will do next but wrote: “There’s more to build. More impact to create. Stay tuned — the next story begins soon.”
