We examine how a multi-stakeholder collaboration (MSC) in the emergent issue field of circular textiles in The Netherlands gains legitimacy as field coordinator. Drawing on our preliminary findings from rich, qualitative data, we present a process model that highlights three objects of legitimacy – the organizational entity, the activities, and the role itself – that need to be obtained by the MSC in order to successfully claim and enact the role of field coordinator. We highlight the interplay between these three objects of legitimacy, and show how field coordinator legitimacy is a dynamic process that is both institutionally bound and agentic. As such, our study contributes to the vibrant literature on how MSCs address complex societal problems, while also reflecting the increased scholarly interest in how moral markets emerge and become structured in response to the detrimental effects of conventional business practices.