Vestiaire Collective, a luxury goods resale platform, has raised $37 million in Series D round of funding led by Eurazeo, a French investment company along with other participants including Idinvest Partners, Conde Nast, Balderton Capital and Ventech.
Launched in 2009, Vestiaire Collective is one of the leading European trusted online trader for sale of international designer and premium fashion. The company bring to its clients a combination of desirable curation, authenticity and quality together with a social shopping experience which makes the company a premier site for desirable fashion resale. Till date, it has more than 4 million members, with 100,000 new members joining the site month after month across 40 countries. It operates in Paris, London, New York and Berlin and soon to start in Italy and Scandinavia.
“We have a unique model because we focus on products that are on-trend and in-season, and we control every step of the process,” Sebastien Fabre, CEO of Vestiaire Collective. The company has been growing at a faster rate with its revenue doubled since its launch. In just three years i.e around 2012, the site made a revenue of $20 million by charging commission as high as 33%.
With the new funds, Vestiaire Collective plans to boost it rapidly expanding international roll-out targeting Europe and USA. It also plans to offer support to the innovative strategy of the French market leader and to continue to improve and build the brand name internationally and strong international teams.
Fabre said, “This round of funding is an integral part of the next phase of expansion for Vestiaire Collective. The support of existing investors and the arrival of Eurazeo have reinforced our desire to speed up the implementation of our international development plans.”
“Vestiaire Collective’s model is disrupting many industries, especially luxury and fashion,” said Virginie Morgon, deputy CEO of Eurazeo. “Buyers are given direct access to a worldwide supply of products, while sellers can address a global customer based in just a few clicks. This is the perfect opportunity for Vestiaire Collective, as luxury goods are increasingly seen as durables and their perceived value is increasing. The company stands for exactly the type of investment that we seek.”
“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.