Vestiaire Collective, a Paris, France-based global community for luxury and premium pre-owned fashion, raised €40M in funding.
The round was led by Bpifrance, alongside new Vestiaire Collective CEO Max Bittner, with participation from existing shareholders Eurazeo Growth, Vitruvian Partners, Idinvest Partners and Balderton Capital.
The company intends to use the funds to launch innovative and sustainable tech solutions for the fashion ecosystem, accelerate international growth and hiring efforts.
Launched in Paris in October 2009, Vestiaire Collective is a global community for luxury and premium pre-owned fashion, with a curated catalogue of 1,000,000 desirable items that, once sold, are expertly checked for 100% quality and authenticity.
Vestiairecollective.com has over 8 million fashion members across 50 countries worldwide with offices in Paris, London, New York, Milan, Berlin and Hong Kong.
The investment will support Asian growth momentum where Vestiaire Collective sees a 140% GMV growth in Q2 2019, as well as the recent launch of numerous new markets including Taiwan, Thailand, Indonesia, India, Malaysia, UAE, Saudi Arabia, Israel, Brazil and Mexico.