Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Vestiaire Collective secures £50m funding

Resale giant Vestiaire Collective has secured €59 million (£51m) in funding to help expand into Japan and Korea and develop its US shipping services.

The new funding will allow for the further acceleration of Vestiare Collective’s international business, as currently 80% of the French headquartered company’s transactions are already generated cross-border.

The round will also drive the company’s US ambitions to develop its stateside direct shipping model. The model launched in Europe in 2019 and currently, more than 50% of orders are fulfilled using the service. 

It is planned to launch in the US in early summer followed by Asia and the end of 2020. 

The funding is a result of the reinvestment of existing shareholders: Eurazeo, Bpifrance, Vitruvian Partners, Conde Nast, Luxury Tech Fund and Vestiaire Collective’s chief executive, Max Bittner.

Additionally, the resale business has bought onboard new investors comprising: Korelya Capital, funds managed by Fidelity International, Vaultier7 and Cuir Invest. 

With its new Asian investment partners Vestiare Collective is planning expansion towards Japan and Korea in 2020 and beyond. 

The resale platform expects the current Covid-19 crisis to accelerate the adoption of online shopping with an increased focus on social values and resourcefulness in purchasing. 

Vestiare Collective says it has seen deposits and orders rebound quickly to the pre-Covid-19 baseline or above. 

Bittner commented: ”I am personally convinced that this unprecedented period of disruption will not only challenge where we shop but how we shop. Vestiaire Collective was built during the 2008 crisis and proves today how it can help people in their daily life to make the most out of their belongings, but also to access fashion in a sustainable and conscious way. Everyday, I feel proud and amazed by our global community of fashion activists who are leading the way towards a brighter future”

Drapers’ coronavirus update:

We’re working to keep delivering to your doorstep. If your magazine is delivered to your office and you’d like to change this, please email or call 01604 828 705.

As a subscriber you can also read the digital editions of the magazine, which can be found under the ‘My Account’ tab on the main navigation bar.

Finally, make sure you’ve signed up to our newsletters by visiting ‘My Account’ and ‘Newsletters’.


Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.