Vestiaire Collective secures €58 million funding
PARIS, January 24, 2017
Vestiaire Collective, the European leader in luxury and premium pre-owned fashion today announces the completion of a €58 million round of financing to fuel continued international growth and increase operational capabilities. The round was led by new investor Vitruvian Partners as part of Vitruvian’s increasing focus on French opportunities. Existing major shareholders Eurazeo and Idinvest Partners also participated, reaffirming their support of the company. Created in October 2009, Vestiaire Collective has since raised more than €116 million.
This significant new round of funding confirms investors’ belief in the large global opportunity for Vestiaire Collective’s business model and will allow for further acceleration of its international business beyond the countries where the Vestiaire Collective community is already well-established. Almost two-thirds of the French headquartered company’s transactions are already generated cross-markets.
This global success is based on a unique proposition: Vestiaire Collective is the only consumer-to-consumer marketplace where 100% of the products are physically checked by a team of experts, a quality control that makes the platform unique.
Vestiaire Collective has posted consistent strong growth over the past 4 years. The company will use the funds to further increase its growth, develop its presence in the United States where its aim is to rapidly achieve the same leadership position that it enjoys in Europe and to move to expand into the APAC region, where the early evidence underscores the potential for the model to succeed.
This expansion builds on the strong base to its business that Vestiaire Collective has established across Europe. With number one positions in the European G5 countries (France, the United Kingdom, Germany, Spain, Italy), and strong presence throughout the Nordics, Vestiaire Collective has become the undisputed European leader in luxury and premium pre-owned fashion.
Vestiaire Collective entered the US market in 2015 and has subsequently grown in this geography where over in the last 18 months, it has established itself as a leading and expert company in the pre-owned luxury and fashion business. Part of the proceeds of this funding will be used to accelerate its position in this market.
Vestiaire Collective’s ambition is to become the clear global leader as a trading platform for both buyers and sellers by 2018, and already counts over 65% of its revenue outside of France.
Additionally, the new funds will also be used to strengthen Vestiaire Collective’s distribution platform and accelerate improvements to users’ multi device experience.
Finally, the company will create 120 jobs globally. Not only will Vestiaire Collective hire professionals to support its international expansion and reinforce its Tech team, the company also plans to invest in the construction of a new unique logistics centre in France in 2017 to fully meet increasing demand generated by constant growth of transactions and interactions on the platform.