Pre-owned luxury fashion marketplace Vestiaire Collective has secured a further €58m (£49.7m) in funding to support its international growth.
The money will be used to improve Vestiaire Collective’s operational capabilities in Europe, fuel its growth in the US and allow expansion into new markets, including Asia Pacific, during 2017.
It will invest in a new logistics facility in France, where it is based, to meet increasing demand in Europe.
Overall, the plans are expected to create 120 jobs globally within the next 18 months.
London-based private equity firm Vitruvian Partners led the funding round, while existing major shareholders Eurazeo and Idinvest Partners also participated.
Since its launch in October 2009, Vestiaire Collective has raised a total of €116m (£99.5m) from Zadig & Voltaire, Ventech, Balderton Capital, Condé Nast International, Idinvest, Eurazeo and Vitruvian.
Sébastien Fabre, founder and CEO of Vestiaire Collective, said: “Over the last eight years, we have consistently delivered remarkable growth, which makes us highly confident in our ability to deliver on our ambition to become the leading global company in luxury and premium pre-owned fashion.”