Vestiaire Collective promotes CFO to chief executive as Bittner exits

Vestiaire Collective has appointed Bernard Osta as its new CEO, succeeding Maximilian Bittner who led the company through its major growth of the past seven years.

The French high-end resale giant said the global platform “enters today its next chapter of growth” with the new appointment, although Osta isn’t new to the business. 

He’s been there since May 2021, being Chief Strategy Officer from May 2021 to August 2023 and Chief Financial Officer from September 2023 up to last month. 

Before joining Vestiaire Collective, Osta spent time advising businesses strategically as an investment banker for 15 years at Lazard and Goldman Sachs in New York and Paris. He’s also an independent member of the Supervisory Board of media and entertainment group Vivendi.

So we’re clearly talking about a business heavyweight who also has several years of experience in the burgeoning luxury resale sector.

The company’s board said of him and his predecessor: “We want to thank Maximilian Bittner for his dedication and the significant role he has played in the development of the company since he joined in late 2018. We wish him every success in his future professional projects. Looking forward, we are very happy to open a new chapter under the leadership of Bernard. We have worked very closely with him since he joined Vestiaire Collective. His intimate knowledge of the company, international experience and great leadership will be invaluable assets for Vestiaire Collective in its next phase of growth.”

Osta meanwhile said the company is “the ultimate trusted marketplace in the highly attractive pre-loved luxury fashion industry” and that “with the rise of AI, we have an extraordinary opportunity to accelerate on our product roadmap, deliver the most engaging customer experience and gain market share”.

The business plans to continue implementing its “extensive AI-enabled product roadmap to improve the buyers’ and sellers’ experience at an accelerated pace”. It also wants to increase its “reach and brand awareness through innovative and impactful marketing in its core regions across Europe, the US and APAC”. And it will invest further in its authentication capabilities.

There was no mention of a potential IPO, the possibility of which the company had last year said it would explore, although such things are generally kept firmly under wraps until they happen.

There was also no mention of what Bittner will be doing next.