Vestiare Collective announces new €178 million financing round
Vestiare Collective, the online platform for second-hand fashion, has completed a new €178 million financing round backed by luxury group Kering and US investment firm Tiger Global Management.
In addition, existing backers such as Bpifrance, Condé Nast and the Eurazeo Group have reinvested.
The move follows a strong year for the platform where its transaction volume grew by over 100% year-on-year.
Maximilian Bittner, Vestiaire Collective’s chief executive, said: “This latest round of investment confirms the incredible trajectory of Vestiaire Collective, founded during the 2008 crisis, the model has clearly demonstrated its ability to continue to thrive during challenging conditions.
“The resale sector as a whole is experiencing rapid growth, especially amongst Millennial and Gen Z consumers, which will come to shape the retail landscape of the future.
“We are incredibly excited to welcome Kering and Tiger Global Management, both of which will be instrumental in our mission to build a more sustainable fashion industry and further grow our incredible global community”.
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