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”.īy investing in Vestiaire Collective (c. 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. Maximilian Bittner, Vestiaire Collective’s CEO commented: “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 amount of secondhand pieces in people’s closets is predicted to grow from 21% in 2021 to 27% in 2023 with the value of the secondhand sector forecasted to be worth over $60 billion by 2025. This has been predominantly driven by younger consumers' increased focus on sustainability and a growing trend for social shopping and online communities. The pre-owned fashion sector has experienced rapid growth over the last three years with a further acceleration during the pandemic. Following a strong year that saw the platform’s transaction volume grow over 100% year-on-year, this financing round grants Vestiaire Collective unicorn status and ideally positions it for its next cycle of accelerated growth. Existing shareholders including Vestiaire Collective’s CEO, Max Bittner, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture) (RF.PA), certain funds managed by Fidelity International, Korelya Capital (backed by NAVER) (KRX: 035420), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners also reinvest. Paris, March 1st, 2021 - The leading global platform for desirable second-hand fashion today announces the completion of a new €178 million financing round, backed by global French luxury group Kering (KER.PA) and US investment firm Tiger Global Management. Press Release Vestiaire Collective Kering EN 2021 03 01 ![]() Vestiaire Collective announces a new €178m (US$ 216m) financing round backed by Kering and Tiger Global Management to accelerate its growth in the second-hand market and drive change for a more sustainable fashion industry.
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