Vestiaire Collective 216M 1B Dillet TechCrunch

Introduction

Vestiaire Collective: Fanny Moizant is co-founder and president of Vestiaire Collective, a European reselling platform for genuine pre-owned luxury fashion. She was born in the south of France and went to School before working as a fashion marketing executive at John Galliano. Moizant studied marketing at Reims Business School as she was a bit bored by Home Decoration; she then joined to learn at Institute Francais de la Mode after having her two daughters, and the idea of Vestiaire Collective came from there.

What is Vestiaire Collective

• It is the leading global online marketplace for desirable pre-loved fashion. We are changing the fashion industry for a better future.
• It was founded in 2009 and headquartered in Paris, with an office in Tourcoing, London, Berlin, New York, Hong Kong, Singapore, Lisbon, and Seoul
• Our platform is Unique thanks to our 23 million highly engaged buyers and sellers, and rare inventory of millions of items, including 20,000 regular new-ins.
• We currently have an assorted global team of 800 employees representing more than 50 nationalities.

Vestiaire Collective Funding

It acquired Tradesy on March 15, 2022. Its latest funding was on December 13, 2022, from a debt sponsoring round, and it has raised a total of $ 722.3M in funding over nine rounds, and 23 investors funded it. Goldman Sachs and Societe Generale, the most recent investors, also invested in Groover on September 20, 2019.

It announced a new funding round. The startup is an online marketplace where you can find pre-owned luxury and fashion items. It is a complicated industry where you don’t want to buy a damaged or fake item. The company controls and verifies some things before they reach the buyer. The company has raised $216 million, or# 178 million. French fashion and luxury group Kering is leading the round with Tiger Global Management and making it a unicorn. It reached a valuation above $1.

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Vestiaire Collective 216M 1B Dillet TechCrunch

The company has raised $216 million, or# 178 million. French fashion and luxury group Kering is leading the round with Tiger Global Management and making it a unicorn. It reached a valuation above $1. Transaction capacity doubled in 2020, equated to 2019. There are 140,000 new listings every week, it’s been a bit harder to travel and buy fashion items in stories, and many fashion e-commerce companies have been thriving during the coronavirus outbreak. Vestiaire Collective is one of them.

Further, it is particularly well-positioned to find new customers looking for quality goods; these goods will last for a while and haven’t been precisely for them. In the same way, people can sell their material instead of throwing it away. the company is now overgrowing in the U.S. and Asia. “As of January 2021, local sellers in those regions had increased their items sold by more than 250% year-over-year,” Whereas Vestiaire Collective originally started in Europe, Tiger Global partner Griffin Schroeder said in the statement.

Vestiaire Collective 216M kering 1B Dillet TechCrunch

The pre-owned fashion sector has experienced rapid growth over the last three years, with a further speeding up during the pandemic. It has been driven mainly by younger consumers’ increased focus on sustainability and a growing trend for social shopping and online communities a result. As a result, the price of secondhand pieces, in people’s closets is probable to grow from 21% in 2021 to 27%  in 2023, with the secondary part calculated to be worth $60 billion by 2025.

Today’s crucial global dais for desirable secondhand fashion announces the completion of a new €178 million sponsoring round, backed by international French luxury group Kering (KER.PA) and U.S. Investment firm Tiger Global Management. As a result, volume grows over 100% year-on-year.

Conclusion

We want to permit our members to continue inspiring each other while ensuring we are highlighting the hottest global trends and staying in line with the demand. So, we add about 8,000 new items a day, and since we’re a global platform, our sellers have access to some of the unique designers and pieces that are nearly impossible to find anywhere else.

Our target market is fashion lovers from all around the world. We want to encourage more fashion customers to assume a more sensible way, of consuming fashion by buying less. Buying well, and investing in a piece that stands the test of time and holds its value at onward sale. In addition to the current pandemic, many consumers are concerned about the impact of fashion on the environment. At the lower end of the variety, retailers and fast fashion brands encourage you to buy more materials as trends change with each season.