Vestiaire Collective, a Paris, France-based global platform for pre-owned fashion, raised $64M in funding.
Backers included Korelya Capital, funds managed by Fidelity International, Vaultier7 and Cuir Invest and existing shareholders Eurazeo (Eurazeo Growth & Idinvest Venture funds), Bpifrance, Vitruvian Partners, Conde Nast, Luxury Tech Fund and Vestiaire Collective’s CEO, Max Bittner.
The company intends to use the funds to explore the growth of the global business into Japan and Korea and expand Direct Shipping service in the US.
Launched in Paris in October 2009, Vestiaire Collective is a global platform for pre-owned fashion. Curated by a community of fashion lovers, members inspire one another whilst selling and buying unique pieces from each other’s wardrobes. Vestiairecollective.com has over 9 million members across 90 countries worldwide with offices in Paris, London, New York, Milan, Berlin and Hong Kong.
Currently, over 80% of the company’s transactions are already generated cross-border.