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Design Smarter. Trace Clearly. Waste Less: Building a Better Retail Model
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00:01Bonjour à tous. Je suis heureuse d'être ici pour vous présenter la prochaine session.
00:07Je m'appelle Alice Baudreau de l'Hélène MacArthur Foundation.
00:10Nous sommes ici pour parler de comment construire un modèle meilleur retail.
00:15Je suis heureuse de parler avec Dunia, Alexandre et Sarah sur ce sujet.
00:20Et parce que je parle de l'Hélène MacArthur Foundation,
00:23nous sommes particulièrement préparés pour parler de comment construire un modèle meilleur,
00:25circular retail model, qui est basé sur trois principes.
00:31Comment créer, produire et distribuer items de fashion,
00:35qui sont faits pour être faits encore,
00:38pour être durables et longer,
00:41et pour être faits de renouvelables ou recyclables.
00:47Pour commencer, nous pouvons peut-être vous présenter,
00:50et vous vous présenterz rapidement votre nom et votre company.
00:56Bonjour à tous. Je suis heureuse d'être ici.
00:59Je suis Sarah Tailleb.
01:00Je suis le général manager d'Ebay en France.
01:03Ebay, le second biggest platform d'e-commerce dans le monde.
01:09Nous connectons les buyers et les sellers across le monde.
01:13Nous sommes une pure marketplace.
01:15C'est notre modèle business.
01:16Je suis heureuse d'être ici.
01:19Je suis heureuse d'être ici.
01:20Nous avons changé d'une stratégie plus sustainable.
01:23Nous avons réalisé que 80% du carbone du produit produit
01:29vient de la production de la production.
01:31Nous n'avons pas un manufacturer,
01:33donc nous nous concentrons sur l'extension de la vie des items.
01:37Nous avons une stratégie 3R,
01:39refurb, repair et resell.
01:44Bonjour.
01:45Je suis Alexandre Capilli.
01:46Je suis l'EVMH de l'EVMH de l'EVMH.
01:49Je ne veux pas l'entendre l'EVMH,
01:51mais je voudrais l'entendre l'EVMH,
01:53notre stratégie de l'EVMH.
01:54Le live 360 est basé sur quatre pilières.
01:57Un en focus sur la créativité,
01:59donc la design de la créativité,
02:00un en focus sur la créativité et la transparence,
02:03et nous reviendrons à ça.
02:04La troisième en climat,
02:06et la dernière en biodiversité.
02:07Mais en revanchez à la créativité,
02:10nous avons quatre principales convictions.
02:13La première est l'eventivité,
02:14comment nous pouvons utiliser
02:15certifié ou recyclé materials.
02:17La deuxième est la sobriété,
02:18comment nous pouvons réduire l'énergie
02:20ou la consommation de la créativité.
02:22La troisième est l'éternité,
02:24comment nous pouvons garantir
02:25un produit long-lasting,
02:26mais aussi comment nous pouvons
02:27offrir les refills ou les services.
02:30Et la dernière est l'éVMH,
02:32comment nous pouvons
02:33augmenter toutes les options recyclés aujourd'hui.
02:37de la créativité.
02:38Bonjour à tous.
02:38Je fais toujours le même jeu
02:41quand je commence à faire un panel,
02:42mais je ne vois pas beaucoup.
02:44Donc, si vous connaissez votre hand,
02:46si vous connaissez Vestiaire Collective.
02:49Great !
02:50Mais je n'ai toujours pas parlé.
02:52Je suis Dounia Yavann,
02:54je suis le chef impact officer
02:55à Vestiaire Collective.
02:57Vestiaire est la première
02:59plateforme mondiale
03:00pour pre-loved luxury fashion.
03:03Notre modèle est un peu le même
03:06mais pas complètement le même
03:07comme eBay,
03:08mais il me semble que
03:09nous sommes une plateforme
03:12où nous sommes principalement
03:14C2C,
03:15mais nous avons aussi
03:16deux autres pillars
03:18où nous permettons
03:19B2C,
03:20donc pro-sellers,
03:21d'accès à notre communauté
03:23et la dernière,
03:26qui est le nouveau,
03:27mais pas très nouveau,
03:29nous lançons quelques années
03:31deux ans,
03:31qui s'appelle Resell-as-a-Service,
03:33ce qu'on appelle RAS.
03:35Vous allez me dire RAS,
03:37RAS, RAS.
03:38So, Resell-as-a-Service
03:39c'est la façon
03:39d'introduire circularité
03:41pour les brands
03:43qui veulent intégrer
03:44circularité
03:45dans leur business model.
03:48Voilà.
03:49Excellent !
03:50So, now the stage
03:50est clear
03:51pour tout le monde.
03:53Nous sommes à Divatech,
03:54donc il y a beaucoup
03:55de innovateurs
03:56sur le floor
03:56juste derrière ces walls.
03:58C'est intéressant
04:01de entendre
04:01d'entre vous
04:02comment,
04:03parce que vous allez
04:04investir en tech,
04:06comment vous allez
04:06leverercier
04:07vos investissements
04:08pour atteindre
04:09vos objectifs
04:10circulaires
04:11?
04:12Let's start
04:13avec vous, Sarah.
04:15Sure.
04:16So, that's
04:16very interesting
04:17because,
04:18well,
04:19we are living
04:19in the new revolution
04:21of the AI
04:22and that's
04:23really key
04:23for eBay
04:24that has been
04:25a pioneer
04:26on leveraging data
04:27for 30 years now.
04:30And,
04:31I'm talking
04:32about sustainability.
04:33This might sound
04:34a bit contradictory
04:35because AI
04:36is, of course,
04:37consuming
04:37a lot of energy.
04:39but,
04:40I was also talking
04:41about refurb,
04:42resale,
04:43and repair
04:43and how do you find
04:45unique goods,
04:46how do you find
04:47items that are really
04:48unique and specific
04:49to you,
04:50how do you understand
04:51refurbished products,
04:52how do you find
04:53the spare parts
04:54that will fit
04:55to your vehicles.
04:57And,
04:58when you're a seller,
04:59because,
04:59again,
04:59we're connecting
05:00buyers and sellers,
05:02well,
05:03you need to have
05:04simplicity
05:04and efficiency
05:06when you create
05:06a listing on our platform.
05:08And,
05:09that's all powered
05:10by AI tools
05:11that will really
05:13make things
05:14easier for you
05:15to have the good pictures
05:17on your listings
05:18and write
05:19the proper description
05:20for you
05:20and translate
05:22into 15 different
05:23languages
05:23your listings
05:24everywhere in the world.
05:27Great.
05:27Nice.
05:29Maybe, Dunia,
05:29because you have
05:30similar but also different
05:31business models
05:32and activities sometimes,
05:33how are you leveraging
05:34your tech investment
05:35to achieve your own objectives?
05:37So, we tend to believe
05:38that we are a fashion
05:39slash tech company
05:41and we actually want
05:43to leverage tech
05:44to emphasize our impact.
05:47And,
05:48if I take just
05:49two examples,
05:51but just to build
05:53on what Sarah was saying,
05:55we're hearing a lot
05:56and more and more
05:57about AI being
05:58not that sustainable.
06:00I think we also need,
06:01first,
06:02a bit of take a step
06:04backward also
06:05because actually,
06:06yes,
06:07what does it mean to do
06:08AI to make your barbecue
06:10look at your sausage
06:11be cooked?
06:13But, what does it mean
06:14to add AI
06:15to take a look at fire
06:17or to actually make
06:19those business
06:20like eBay or us
06:21grow in an industry
06:23that is very much
06:25like a huge polluting industry?
06:27I think it depends
06:29how you leverage AI
06:30and how do you use it.
06:32So, I will take
06:33just two examples
06:34for Vestiaire.
06:35One of our latest tool
06:37is actually the AI-powered
06:40search engine
06:42where you can actually
06:43use from social media
06:45pictures or whatever
06:47inspires you.
06:48and you want to take a look
06:50at similar item
06:51because,
06:52so you know Vestiaire
06:53and I don't know
06:54how much of you
06:54already use second hand,
06:56but it's very difficult
06:57for one another
06:59to know exactly what you want.
07:01So, sometimes,
07:02when you have the inspiration
07:05but you want the similar item,
07:07like the idea is to make it,
07:09you were saying,
07:09effortless and seamless.
07:11if the more easy it will be
07:14for the consumer,
07:15the better,
07:17and the better will be your experience
07:20and you will tend to come back.
07:22So, this is actually one
07:24of the last,
07:26latest features we added
07:27and we saw actually
07:29that it doubled the items sold
07:32very quickly from the category
07:35similar item.
07:36So, it means like people needed it.
07:39and second will be
07:41what we want to do
07:43and what we already did
07:44actually through a partnership
07:46with Chloe a couple years ago
07:48is the digital product passport.
07:51I'm not going into the detail of it,
07:54but for instance,
07:55so it will soon to be
07:56a compliance thing,
07:58but I know like some brands
07:59already use it to tell the story,
08:02talk about the traceability
08:03of the item,
08:04but what about what's happening
08:06after the boutique
08:07and how it can enable people
08:10to actually spend less time.
08:12If you are ever listed
08:15second-hand item,
08:17you know that it's a bit long,
08:19I would say,
08:20in our actual world.
08:22And if, imagine,
08:24if you just scan your clothes
08:26and it gives you the category,
08:28the color, the brands,
08:30and everything,
08:31this will be a huge enabler
08:33for people to enter second-hand.
08:37But I see also this as an opportunity
08:39because sustainability tech
08:41needs to be aligned with growth.
08:44And we are working on pretty good,
08:48and I cannot disclose anything yet,
08:51but good incentive for brands
08:54to actually use that digital product passport,
08:58which will be soon a compliance topic,
09:01and transform it into innovation
09:03and business opportunity
09:05entering second-hand.
09:07That's really great.
09:08And to create trust with customers as well,
09:10because it's also a way to create trust
09:11across the whole ecosystem, right?
09:13Exactly.
09:13Not to replace human,
09:14but just to complement
09:16and add a layer of verification
09:18because we all know
09:19from our fashion expertise
09:21that authentication is key
09:23when you're talking about resale, right?
09:26And Alexandre, what about a brand like NVMH
09:28which not only distributes,
09:29but also creates?
09:30Yes.
09:32If we look today
09:33at the NVMH value chain
09:34and environmental impact,
09:35most of the impact
09:36is generated by the raw material production
09:39in the fields.
09:40Cotton, wool, leather, cashmere.
09:42So, meaning that if we want to ensure
09:44the high quality,
09:45but also the sustainability of our product,
09:47we must be able to trace and map
09:49the whole supply chain.
09:51And of course, first,
09:53to ensure that the best practices
09:54are implemented,
09:55but also to track primary figures
09:57to calculate our environmental footprint
09:59at corporate level,
10:00but also at product level.
10:02And to do so,
10:03we are leveraging many tech solutions.
10:05I can mention a few of them.
10:07We are collaborating with Textile Genesis
10:09to trace our fashion supply chain.
10:12We are collaborating with Fairly Made,
10:13another French startup,
10:15to calculate the environmental footprint
10:16of our product.
10:17We are also collaborating
10:19with the OHA Blockchain Consortium
10:21to develop some digital product passports.
10:23and I think all of this will very likely
10:26be scaled up and accelerated
10:27by all of the French and EU
10:31Ecoscore regulation,
10:32but also the DPP regulation.
10:34And I can mention that,
10:36of course, many of our maisons
10:38are starting to develop DPP.
10:40One of the most famous is L'Europeana,
10:42Italian brand,
10:43which has already been made available
10:45some DPP for our customers.
10:47And you can really trace the whole supply chain
10:49of the product,
10:50where it's coming from the wall,
10:52where it's being transformed and manufactured.
10:54And then it's also a way to ensure authenticity
10:57when they arrive to you, for instance,
11:00or to other customers.
11:02Great.
11:02I love the shout out to French startups as well.
11:04It's really good.
11:06We've already teased some examples
11:08in your own presentations,
11:10but as an ecosystem kind of actor at the foundation,
11:15I can very much testify to the fact
11:16that this change really needs industry value chain work.
11:20Not one actor can really change everything on their own, right?
11:23So I'd be really interested to kind of hear from you,
11:26how are you yourself and your company
11:28spearheading this collaboration
11:29to really bring the whole industry behind you
11:32and not just your own company?
11:34Maybe we can start this time from Dunia.
11:37Through tech, you mean?
11:39Sorry?
11:39Through tech, sorry.
11:40Through tech, but also just how do you grow your business model
11:43bringing the whole industry with you?
11:46Big topic.
11:48It's a big topic and we're not there yet.
11:51But we tend to think that collaboration is key, actually.
11:55We need all the stakeholders from the fashion industry,
11:59from linear model to circular model,
12:01the repair part you were talking about, free-for-bish.
12:06We need all the stakeholders to move toward the same ultimate goals
12:11that make things better.
12:12I'm not sure we're going to be perfect,
12:15but if we all tend to go the same way,
12:19the real systemic change will happen.
12:21Collaboration.
12:22So for us, it's through Resell as a Service, most of it.
12:27It's how we partner with the brands to actually get the knowledge
12:32because we're not retailers.
12:34Sometimes we have opportunities to open pop-up stores
12:38or being in a physical boutique
12:40and we always said it's a job we don't know how to do.
12:45But on the opposite side, it's also very complex to integrate circularity.
12:51because the knowledge of the trend is different.
12:57The price, the good pricing, the desirability,
13:02how people shop secondhand is very different
13:05and it's actually the expertise we've built through those 15 years of experience.
13:12and it's exactly what we are trying to achieve with the brands with us
13:18and we test different models.
13:20But they're interesting into the data we own
13:24and to get to know better the consumer
13:27and what's the real longevity, I would say real like this,
13:34longevity of an item.
13:35but it's also for them the opportunity to talk to channels they never talked to before.
13:43So is it someone that will pass through the boutique or will never
13:47but they will get to the brand through another channels.
13:51So for us, Resell as a Service is not just adding an API on a website.
13:59It's more an exchange of expertise and getting into a consumer base
14:06that is very different from the people who walk into a luxury boutique.
14:13Alexandre?
14:15Yes, it's absolutely key to collaborate with partners
14:18and we are collaborating with first competitors but also with suppliers.
14:22To start with competitors, you know the luxury industry finally is a small player.
14:28If you look at the cotton production for instance,
14:30we are almost nothing compared to big player of fashion or as Inditex or H&M.
14:35So we need to collaborate.
14:38I could mention, for instance, we are collaborating with the OP2B platform
14:41for regenerative agriculture, for textile exchange, for raw material sourcing.
14:45So we are discussing together to be more efficient
14:48but also to avoid supplier's fatigue.
14:50You know, very often we can have an audit from Dior on Monday,
14:54then it will be Chanel on Tuesday, then it will be Gucci on Wednesday.
14:57So the idea is to be more efficient and to avoid supplier's fatigue,
15:01to be sure that we are asking all the same kind of information
15:04and to be more efficient and, yes, easier for our suppliers.
15:09And then, of course, we are also collaborating with our suppliers.
15:13One illustration that we recently launched a live 360 business partners program
15:17and the idea is really to see how, again,
15:21we can collaborate in a more efficient way with the key strategic suppliers.
15:25So the idea is to how we can open our tool.
15:27We have a lot of tool internally for the environmental topics
15:30and the idea is to share this tool with our suppliers.
15:32We are also opening, we have a lot of training centers at LVMH
15:37and one of them is focusing on environment and sustainability.
15:40We will open these training centers to our suppliers.
15:44And the idea is to how we can scale up co-innovation.
15:47You know, most of the time, the innovation is coming from suppliers.
15:50So how can we be more efficient and collaborating with suppliers?
15:54So, yes, definitely collaboration is really key for us on every single topic
15:58when we talk about sustainability.
16:01And Sarah, how does eBay pull it off?
16:05Well, I want to say that if you want to gather collaboration,
16:10first you need to find common interests.
16:13That's really key.
16:14And if you want this to be a win-win, it's interesting to give interest.
16:21To take an example, if you push some guilt or sentiment of sacrifice
16:30against buyers or sellers, you will not drive the impact that you want
16:34and you will not find good conversations with buyers, sellers, brands.
16:39So what we do is really to emphasize the enjoyability of shopping secondhand,
16:46of shopping spare parts and repair yourself.
16:48You will need to make things easier.
16:51And what we highlight to sellers, to retailers, small businesses that trust us,
16:56but also with brands, is that this is a highly profitable business.
17:01Not only in fashion, but in any category.
17:05There's a huge opportunity for them to build on the recycled parts,
17:10for example, in the car industry.
17:13There's a lot of ways to bring them to these markets.
17:18And that's what we do.
17:19And one example, we launched a trading platform on eBay in several countries.
17:25So I'm sure you all have old smartphones in your closet that are sleeping
17:29and that you don't want to sell yourself.
17:32Well, you can trade them in our platform and get instant cash.
17:36So that's the first interest.
17:38But then where does that smartphone go?
17:40It goes to one of our refurbishers that is, well, our preferred partner
17:46and that has the right process to refurbish the item and sell it back on eBay.
17:50And I think that's the way we want to collaborate
17:53and that's the way we can drive for more significant change.
17:58That's really great to hear.
17:59And I will also mention that eBay is a collaborator of one of the EMF programs.
18:04We've launched recently a fashion remodel program to really grow
18:09and increase the growth of repair, resale and rental models in the fashion industry.
18:17And the first learnings of this program are actually live right now
18:20and publicly available on our website.
18:22So check it out.
18:23And thanks for your contribution to that program.
18:27We've talked about collaboration.
18:28And collaboration means also bringing on the journey external stakeholders, obviously.
18:32And again, going beyond the walls of your own organization,
18:35which to me is really a key element of circular economy
18:38and changing the retail model today.
18:41I want to kind of hear a bit about how do you create this momentum with those external stakeholders.
18:48Alexandre, do you want to start us off?
18:50Yeah, I would like to start with maybe consumers, customers.
18:54We have different way to do that.
18:56And I think the first one, for instance, we were talking about repair services.
18:59Today, we are definitely accelerated into being able to provide repair services in most of our stores.
19:07And I will, for instance, mention Lueve, which has a Spanish fashion brand,
19:11which has an open booth in many stores dedicated to repair.
19:17Meaning you can go into the store and you have Craftman, which is here, dedicated to repair services.
19:23And you can have a menu.
19:24Do you want to repair or ready to wear?
19:26Do you want to repair a bag?
19:27And you can choose which repair services you like.
19:31So, yes, the idea is really to, yes, again, work on the lifetime of our product
19:38and to be able to provide this kind of repair services.
19:41Same for perfume and cosmetics.
19:43We are now in many stores.
19:44You can go back to the stores and find some refills for cosmetics or perfumes.
19:51And I think beyond this kind of services, there is another topic which is absolutely key.
19:56It's to inform the customers.
19:57And I already mentioned earlier the Ecosco regulation in France for fashion and soon in Europe, but also the DPP
20:04regulation.
20:05And for me, it's really the way to inform the consumer, the customer about his choice.
20:11The environmental footprint of the product, the social footprint of the product.
20:15It's still the beginning in fashion.
20:17If you compare to food, for instance, where we are quite used to get the A, B, C, D, E.
20:22We are just at the beginning of the journey for fashion, but soon you will find this kind of information
20:27at product level.
20:28And I think definitely it will be a way to, yes, to inform the consumer.
20:34It will be difficult at the beginning.
20:35It won't be A, B, C, D, E.
20:36It will be figures in France, a number.
20:39But I think that after a few months or a few years, we will be used to digest this kind
20:45of information.
20:46So for me, it will be a very powerful tool with DPP.
20:50But yes, again, for fashion, we are at the beginning.
20:54Great.
20:54And talking about customer engagement, how do you bring your customer on the journey, Sarah?
20:59Well, we've made a shift in our marketing and communication strategy, of course.
21:04It was not an easy one, but we don't promote new items on our site and in our campaigns.
21:11So for e-commerce platform, that's pretty big.
21:14We also stopped doing Black Friday and other consumption events that would really not be effective pushing for responsible consumption.
21:25So that's for, I'd say, the customer part.
21:28We bring a lot of value-added services to the customers.
21:32We do have a service called eBay Reparation that helps you find the right parts to repair your washing machine,
21:39for example.
21:40But I think we need also to engage.
21:43And the key element would be to engage and is to engage the public affairs and the public authorities.
21:50So I think it's really the main conversation we have at the moment.
21:56You know, like the debate that is happening right now for fashion, of course, it's at the heart of the
22:03conversations.
22:04But beyond that, we participated to all the EPR scheme building in the different categories for the marketplace model.
22:13And thanks to the IFDM, the Alliance of the French marketplaces, we've been part of this process.
22:20And we defend now actively the independence of the end-of-life vehicle centers to maintain their independence.
22:30So I think that's the way we can bring more scale and engagement from external stakeholders.
22:37Nice.
22:37And it's also a very cross-product, cross-industry for you, right?
22:40So quite an extensive range.
22:42Dunia, how does Vester Collective embark your customers and your growing customer base?
22:50So, I was telling you, like, I tend to believe that we need people, business, and policymakers together to create
22:59that real systemic change.
23:03What I tend to keep in my mind when we're talking about having the external stakeholders on board, the consumers
23:11on board, is that circularity needs to move away from being a trend than being a true, real alternative.
23:20So through repair, for instance, you said it, well, having, I see, and I think it's super powerful to have
23:28the craftsmen into the boutique because it's easy for someone, you're coming, and, like, the act of going to the
23:35repair will be much more natural because we, the last decades, tend to move away as consumers from repair and
23:45resell.
23:45So having those kind of initiatives is key. For Vestiaire, as a platform and e-commerce, actually, we use our
23:56fire power through marketing to spread the world.
24:01We did it by, I'm taking the example of banning fast fashion three years ago on a three years commitment.
24:09We integrate into our campaign, like you're doing also, like, really educational content for consumers to come in, like, to
24:22have that, not just the buy and sell topic in their mind, or to be super overwhelmed with sell, sell,
24:30sell, everyone, promotion, promotion, promotion, buy, buy, buy.
24:34But, like, we believe that the consumer will actually react pretty well.
24:40And at first it was very innovative and very, like, bold from us to really focus our marketing campaign on
24:52impact.
24:52But actually what was a real good surprise is that our biggest campaign ever was related to impact and was
25:01related to fast fashion.
25:03So when you actually get to the consumer and walking the talk, I would say, the reaction is pretty positive
25:12and it's aligned with the business and the marketing fire power that you can use,
25:20using this to align it with your responsible, what we call responsible marketing, but I don't really like the word.
25:27On the other side, it's like, okay, now that you're sharing on your channel marketing assets with educational content, how
25:39can we create a real shift is also, like, using the real, like, being in the real life.
25:48And what I mean by that is like, for instance, today the culture is shaped by the content creator.
25:56So we actually partner with content creator, not just to promote resell, but to educate them, for them to change
26:03their way of doing content.
26:05And this was actually a great program and we saw immediately the consequences into their wording, but whenever it's not
26:17even linked to Vestia, it's just linked to fashion.
26:20Now they have the second hand option in their mind. They're talking more and more about second hand.
26:24We're like, we're tracking the numbers of them using the change the way you consume, slow down, overconsumption, overproduction, like
26:33the shift is crazy.
26:35So it's how also we invest like those more direct content creator.
26:44And then we also, and it's one of the things that I'm super happy with, is that we also integrate
26:56pop culture and eBay did it well with Love Island, for instance, but we did it with Emily in Paris.
27:01We tend to believe that if second hand is everywhere, it becomes to be natural.
27:07I am taking the worst example ever, but if you're using this for good, it's changed and it shift completely
27:15the consumption.
27:17Just think about how the cigarettes integrate the market.
27:22It was through revolution, like manifestation, cinema, great actors.
27:29And we believe that if we're like all the, all day long talking about second hand as a true option
27:36and not just being the sustainable, very niche option, like for people, it would be more and more.
27:43I have a 15 years old, not going to, I have a 15 years old boy.
27:47He's really into second hand and for him, it's super natural.
27:51Like there's nothing really bad about it.
27:56But as I am 40, sorry to disclose, like it was not that cool to buy second hand.
28:04So you see the shift toward the consumer and you see that at some point it will be just another
28:11way of shopping.
28:12And maybe the best way of shopping.
28:15There's a real element about creating desirability and really a cultural kind of shift in a way.
28:20I think what I want to highlight in what you just mentioned is that I've heard radical marketing choices, let's
28:27say, which maybe in other groups or at least in the past would have been quite scary for a CMO
28:33to decide on.
28:35That actually have paid off and have created like commercial traction.
28:38So I think it's also important to kind of say there can be radical or at least bold sustainable choices
28:43which are also commercially interesting and create growth.
28:47Because I think it's quite key to not oppose both, but very much look at both in parallel.
28:51If I can just share one data for instance with the fast fashion band.
28:55So basically you're coming at the, around the table, you're saying, hey, we're going to take out part of our
29:01catalog, which is not the, like the biggest part, but still is business.
29:05I come into a meeting and just say, you're taking off some business.
29:09Like you see the face of the CFO.
29:12Actually, you need to leave it to like, to really think, okay, maybe I'm not sure, but let's, let's take
29:19that political decision.
29:20We did it at that time.
29:23We believe into what, like what was good for the industry.
29:27And then we take a look at the consumer behavior in the year after and actually 92% of the
29:34people who were directly impacted by the ban of fast fashion stayed on the platform.
29:40They spend more money, but actually buy, bought less items.
29:46So it was exactly what we wanted to do.
29:49We did not have any data to prove it before doing it.
29:52So I think it was also like a good example of just taking the bold step and learn during the
30:01journey.
30:01Demonstrating a clear commercial success and change of behavior success, which is really great.
30:06I'm hearing a few uploads.
30:07Yes, I think it's worth it.
30:08Thank you.
30:11We've talked about collaboration and engaging external stakeholders, particularly consumers.
30:16We don't have much more time, but I think it would be great to touch upon how to engage a
30:20very key external stakeholder to create change, which is policymakers.
30:25And we really have to do that as a collective and as an industry kind of a play.
30:29So let's start with you, Sarah, because I think we'll end on Dunia and the recent success you've had.
30:33So let's go Sarah, Alexandra and then Dunia on this.
30:36No, I agree.
30:37That's what I wanted to emphasize.
30:40Of course, the consumers, but also the public authorities and in all the topics.
30:46And we need to have the discussion open.
30:49So the marketplace needs to be involved in those discussions to make it, again, constructive and also still show that
30:58it's a profitable business.
30:59It's a business opportunity.
31:01We create jobs for the number of sellers that are on the platform, but also we comply and only the
31:11authorities can bring a significant change adding to the impact we can have as a platform.
31:17Alexandre?
31:18Yeah.
31:18The image.
31:19Well, if you want to ensure that we can guarantee high quality and sustainability of our product, definitely we need
31:25to advocate for policy changes.
31:28Policy changes that can help us to accelerate mapping and tracing, which can accelerate and scale up sustainable design practices,
31:38which can, again, scale up and accelerate the agricultural transition.
31:42Because at the end of the day, if you look at the image, we are almost a group of farmers.
31:46We have vineyards, we have at the beginning of the value chain, cotton, wool, wool growers, leather, flowers for perfume
31:55and cosmetics.
31:56So many, many farmers around the world.
31:57So the agricultural transition is absolutely key for us.
32:00And the last topic is how could we facilitate investment in the circular infrastructure through policy changes.
32:06It's absolutely key.
32:07It's also a way to ensure the industrial sovereignty of France and Europe.
32:13So, yes, definitely we are advocating for policy changes.
32:17That being said, in Europe, we are facing a very complex regulatory landscape.
32:22I could mention ESPR, the upcoming EUDR on deforestation, CS3D, CSRD, REACH, just a small illustration.
32:31So the idea, yes, is really to discuss with all the policymakers in France, Europe, but also in Washington, Japan,
32:38China, to set up efficient systems.
32:40So we really need to be ambitious, but also to be, you know, pragmatic and to ensure that all the
32:48regulations will be manageable and easily implementable.
32:51You know, for instance, just a short message on EUDR.
32:54I don't know if you know EUDR, but it's an upcoming regulation which is supposed to fight deforestation, which is
33:01really, really good.
33:02We really need to fight deforestation.
33:04But if you like the implementation of EUDR, it's highly complex, very administrative.
33:09So, yes, the idea is, yes, collaboration and being ambitious, but being pragmatic.
33:17And, of course, maybe, like, we said it, like, it's key to have those stakeholders around the table.
33:25And it's key to have all the stakeholders around the table, as Sarah was saying.
33:29Like, when you're talking about the future of fashion with just these brands or without the e-commerce player, the
33:37resale, the repair sector, it's very difficult to fight what I call those discriminative laws that have been built, like,
33:51years ago.
33:52But it's today very not actionable for the industry as it is today.
33:58So, yes, the future of fashion will be, and I tend to believe it, will be circular.
34:04If you want to move forward and to keep continuing what we're doing.
34:10One of the key elements of banning fast fashion was also, like, if we ban fast fashion, we also want
34:17our country, so France, because Vestia Collective is a French-based company,
34:24and we want to encourage our country to be at the forefront of that topic because we believe that there
34:29was something to do.
34:31We needed regulation because, yes, it's complicated today.
34:35I'm not telling you that someone who is buying Zara will buy an Hermes bag,
34:41but I truly believe that someone who is going first-hand Zara can enter second-hand luxury fashion and have
34:49very good quality and very good services clothes or items.
34:57And this is why we advocate so much and so hard for fast fashion, and we had that great victory,
35:05so I'm still super happy and high about that.
35:09Because, so, Tuesday this week, France choose to actually re-regulate ultra-fast fashion.
35:17It's a first step, but in that law, actually, you have the advertising that is targeting, the tax that is
35:28targeting also to make people accountable for the model they are bringing on the market.
35:33So, here, Shin and Temu are the first ones. I would have loved that it be more ambitious, but I
35:43think it's a first step, and it's a great victory, because I think France did it.
35:48Now, Europe is taking a look at it, and now, like, you have 27 countries behind, and I hope at
35:53some point it will be global, because we need to regulate if we want the industry to shift.
36:02I think this is an excellent conclusion to our talk. So, first of all, thank you to all three of
36:06you for your participation and your insights.
36:08Thank you.
36:09I will promote a little bit what the Foundation is doing on this, because I really believe this collective action
36:13around policy is really key to kind of create change.
36:15We are actively aligning a number of coalitions on this topic with the UN treaty, the global UN treaty on
36:21plastics negotiations happening live right now.
36:23Some work on fashion and textile at the EU level as well, and the upcoming CE Act regulation, and also
36:30really demonstrating to policymakers, to your point, that this is a business agenda.
36:35It's about making the economics work and really supporting growing circular retail businesses as well.
36:41So, thank you very much, all three of you. Thank you.
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