Vestiaire Collective, a Paris, France-based global platform for second-hand fashion, closed a new €178m financing round.
Backers included French luxury group Kering (KER.PA) and US investment firm Tiger Global Management, as well as existing shareholders Vestiaire Collective’s CEO, Max Bittner, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture) (RF.PA), certain funds managed by Fidelity International, Korelya Capital (backed by NAVER) (KRX: 035420), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners.
The company intends to use the funds to scale up its technology and data innovation roadmap.
Vestiaire Collective is a global app for pre-loved fashion. It provides its community with inspiration, tools and features to sell and buy unique pre-loved pieces from each other’s wardrobes. The platform has an inventory of 3 million items that includes 140,000 new listings every week.
Launched in Paris in 2009, the company has offices in Paris, New York, Hong Kong, Singapore and a tech hub in Berlin.