Vestiaire Collective boosts senior executive team, AI services

Luxury resale specialist Vestiaire Collective has hired two new senior executives specialised in AI solutions, and will be introducing its first services tapping AI at different stages of the customer journey.

AI helps users obtain more accurate results when searching the site  Vestiaire Collective

Vestiaire Collective has worked to improve its own search engine, which generates searches leading to 40% of purchases on the site. According to Vestiaire Collective, in 45% of cases, these searches have more complex parameters than simply a brand name or a product category. Some “22% of one-time buyers and 17% of regular buyers were struggling to find the items they are looking for,” said the e-tailer.

To address the problem, Vestiaire Collective is now powering its search engine via an AI solution capable of interpreting complex requests and analysing the visual characteristics of available products. A solution that has reportedly already doubled the sales for the “similar items” category.

To further boost conversion rates, the site’s recommendation tool will rely on AI by the end of the year. Vendors will be offered suggestions for a price range consistent to similar items already available for sale, while prospective buyers will be shown items similar to those for which they will submit an image.

To bolster and support this purchasing process evolution, Vestiaire Collective has hired Stacia Carr as head of technology and products. Carr previously held the position of vice-president customer experience fashion at Zalando, notably in charge of engineering and applied science, having previously also worked at Soundcloud.

Vestiaire Collective has also announced the forthcoming appointment of US executive Jim Freeman to its board of directors. Freeman, a digital tech pioneer and a champion of AI, also formerly worked at Zalando, as chief technology officer and head of business and products, and was vice-president of Alexa Communications and Prime Video for the Amazon group. He will also act as long-term technology strategy advisor for Vestiaire Collective.

The company was launched in 2009. At the start of 2024, it carried out a funding round in preparation for its stock market listing, raising €59 million. The company aims to achieve profitability by the end of this year, and currently commercialises five million luxury and high-end items in 70 countries.