Vestiaire Collective secures $62M in capital funding, sets sights on APAC

Image courtesy of Vestiaire Collective

French online consignment marketplace Vestiaire Collective has secured €58 million, or $62 million at current exchange rates, in funding to support future international growth.

Vestiaire Collective was launched in October 2009 and since then has raised more than €116 million, or $124 million, from the likes of Zadig & Voltaire, Condé Nast International (see story), Eurazeo and others. The latest funding round was led by new investor Vitruvian partners, part of its own focus on investing in French opportunities.

Invest in consignment
In the last four years, Vestiaire Collective has posted consistently strong growth, using its funding to increase and develop its growth and presence in the United States, a market it first entered in 2015. Vestiaire Collective set its sights on the U.S. hoping to match the success it has seen in Europe.

Vestiaire Collective has plans to expand into the APAC region, where there is a demand for pre-owned, authenticated luxury goods.

Today more than 65 percent of Vestiaire Collective’s revenue comes from outside France.

By securing the additional funding, Vestiaire Collective is ambitious that it will become “the clear global leader” for consignors and buyers by 2018. Also, Vestiaire Collective plans to invest inward by strengthening its distribution platform and improve consumers’ omnichannel experience.

The funding will also allow Vestiaire Collective to expand its staff, adding 120 new jobs globally. Hires will include reinforcements to its tech team, and it plans to invest in building a new logistics center in France to meet increasing demand more efficiently.

Vestiaire Collective’s founders 

“Through their investment in a new round of funding, our new and existing investors are backing our business model and are confident in our capacity to pursue tremendous international growth,” said Sebastien Fabre, founder/CEO of Vestiaire Collective.

“They are providing us with the means for organic and possibly non-organic growth, to consolidate our leadership in Europe, pursue in a similarly rapid growth in the U.S., as well as enter new high-potential markets such as Asia Pacific,” he said.

“I would like to thank all of our investors and especially Eurazeo and Idinvest Partners for their ongoing support and am very pleased to welcome Vitruvian as a new shareholder.

“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,” he said.

Consignment is not the only business model receiving funding as the retail landscape evolves.

Membership-based horology club Eleven James has raised an additional $30 million in capital to keep pace with increasing demand.

Eleven James has found great success in the sharing economy through a platform of “discover, experience and share” within the luxury environment.

Founded in 2013, Eleven James has raised more than $40 million to bring its founder and CEO Randy Brandoff’s concept to life. On Jan. 10, Eleven James announced that it had completed debt and equity fundraising efforts for $30 million of additional capital (see story).

from Apparel and accessories – Luxury Daily https://www.luxurydaily.com/vestiaire-collective-secures-62m-in-capital-funding-sets-sights-on-apac/
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