Luxury resale platform brings AI-driven tools to improve customer experience and boost sales
Vestiaire Collective, the luxury resale platform, has made two key senior executive hires specializing in artificial intelligence (AI) as part of its ongoing efforts to enhance the customer journey with new AI-powered services. The company is set to introduce AI-driven tools at various stages of the user experience, aiming to streamline searches and improve item recommendations.
The platform has upgraded its search engine, which is responsible for generating 40% of purchases on the site. Vestiaire Collective noted that in 45% of cases, searches conducted by users involve more complex parameters than simply a brand name or product category. The company also revealed that “22% of one-time buyers and 17% of regular buyers were struggling to find the items they are looking for.”
To address this, the platform’s search engine will now be powered by AI capable of interpreting complex queries and analyzing the visual characteristics of products. This solution has reportedly doubled sales in the “similar items” category.
Further improvements to boost conversion rates are planned for later this year. Vestiaire Collective will implement an AI-powered recommendation tool, offering vendors pricing suggestions based on similar items and showing buyers options for similar products based on images they upload.
To support these advancements, Vestiaire Collective has appointed Stacia Carr as Head of Technology and Products. Carr previously held senior roles at Zalando, overseeing customer experience and engineering. Additionally, Jim Freeman, an expert in digital technology and AI, will join the board of directors and act as a long-term technology strategy advisor. Freeman previously worked as Chief Technology Officer at Zalando and held senior positions at Amazon.
Founded in 2009, Vestiaire Collective conducted a funding round in early 2024, raising €59 million in preparation for a future stock market listing. The company, which operates in 70 countries and offers five million luxury and high-end items, aims to achieve profitability by the end of this year.