French Vestiaire Collective Raises 33 Million Euros in New Funding Round
Vestiaire Collective, the international leader in luxury and premium fashion resale, today announced that it has raised 33 Million Euros in Series D funding led by French investment firm Eurazeo. The round was followed by previous Vestiaire Collective investors including Idinvest Partners, Condé Nast, Balderton Capital and Ventech
The new funding round, which is one of the largest in France in 2015, demonstrates strong investor confidence in the unique model of the innovative French company, which has reimagined the online re-sale marketplace structure for the contemporary consumer. Total funding to date for Vestiaire Collective is EUR 60 million over 5 years.
With an annual growth of 85% in the first half of this year, Vestiaire Collective is looking to use its new capital to accelerate its rapidly expanding international roll-out with a focus on Europe and the United States. The funding will allow the company to expand its strong hold in Europe and continue to nurture an ambitious plan in the US following encouraging initial results from the official stateside launch in November 2014.
In addition to the international roll-out, the aims of this new capital increase are to support the innovative strategy of the French market leader and to continue to develop the reputation of the brand internationally and strengthen the growing international teams.
“This round of funding is an integral part of the next phase of expansion for Vestiaire Collective, which I am particularly proud of as founder. The support of existing investors and the arrival of Eurazeo have reinforced our desire to speed up the implementation of an international development plan says Sébastien Fabre, founder and CEO of Vestiaire Collective.
“Vestiaire Collective is an outstanding entrepreneurial story. We are delighted to be involved and we will apply all our efforts, network and expertise to support the company in its international expansion”, adds Yann-Hervé du Rusquec, General Manager of Eurazeo Croissance.
Virginie Morgon, General Director of Eurazeo, stated: “Vestiaire Collective is at the nexus of new developments in shopping, the digital space, community platforms, luxury and branding, and the company stands for exactly the type of investment that we seek for Eurazeo Croissance”
Launched in October 2009, Vestiaire Collective is Europe’s leading trusted online site for the resale of designer and premium fashion. A unique combination of desirable curation, authenticity and quality control along with a social shopping experience make Vestiaire Collective the premier site for desirable fashion resale.
Vestiaire Collective has 4 million members, with 100000 new members joining every month across 40 countries worldwide with offices in Paris, London, New York and Berlin; they are also due to open offices in Italy and Scandinavia in 2015.
Each week, more than 20,000 new items are selected adding to the ever-growing catalogue of over 400,000 items, ensuring that Vestiaire Collective is the go to site for an exciting, unique shopping experience. Always committed to offering 100% authentic luxury item, all products are physically checked by a team of experts and authenticators.