![vestiaire collective vestiaire collective](https://www.usmagazine.com/wp-content/uploads/2018/04/screen-shot-2018-04-25-at-1-24-55-pm.png)
VESTIAIRE COLLECTIVE FULL
The investment in Vestiaire Collective makes full sense from both perspectives.” Grégory Boutté, Kering’s Chief Client and Digital Officer, added: “Our innovation strategy aims at investing in brands and technologies for the next generation of consumers, focusing on disruptive business models that allow us to better serve our clients and improve our performance. This fits naturally with our entrepreneurial spirit, our pioneering sustainability strategy, and our modern vision of Luxury.” Rather than ignoring it, our wish is to seize this opportunity to enhance the value we offer our customers and influence the future of our industry towards more innovative and more sustainable practices. 5% stake) and by being represented at the Vestiaire Collective Board of Directors, global Luxury Group Kering illustrates its pioneering strategy, supporting innovative business models, embracing new market trends and exploring new services to fashion and luxury customers.įrançois-Henri Pinault, Chairman and CEO of Kering, said: “Pre-owned luxury is now a real and deeply rooted trend, especially among younger customers. 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.
![vestiaire collective vestiaire collective](https://pbs.twimg.com/profile_images/1051947627741437954/7UH8l5Pv_400x400.jpg)
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 $60 billion by 2025. This has been predominantly driven by younger consumers' increased focus on sustainability and a growing trend for social shopping and online communities.
![vestiaire collective vestiaire collective](https://www.honestbrandreviews.com/wp-content/uploads/2021/02/Vestiaire-Collective-review-2-768x766.jpg)
The pre-owned fashion sector has experienced rapid growth over the last three years with a further acceleration during the pandemic. Following a strong year that saw the platform’s transaction volume grow over 100% year-on-year, this financing round grants Vestiaire Collective unicorn status and ideally positions it for its next cycle of accelerated growth. Existing shareholders including Vestiaire Collective’s CEO, Max Bittner, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture) (RF.PA), certain funds managed by Fidelity International, Korelya Capital (backed by NAVER) (KRX: 035420), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners also reinvest. Paris, March 1st, 2021 - The leading global platform for desirable second-hand fashion today announces the completion of a new €178 million financing round, backed by global French luxury group Kering (KER.PA) and US investment firm Tiger Global Management. Press Release Vestiaire Collective Kering EN 2021 03 01 Vestiaire Collective is 800 diverse employees strong, with 50+ nationalities, spread over 9 locations: Paris (HQ), Tourcoing, London, Berlin, New York, Hong Kong, Singapore, Seoul.Vestiaire Collective announces a new €178m (US$ 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. They operate in 78 countries and offer an unparalleled catalogue of 5 million luxury and desirable fashion items, with 6,000 brands available, including 20,000 products added daily.
VESTIAIRE COLLECTIVE ANDROID
They provide their massive community of 23 million members worldwide, with the best customer experience, from product discovery, buyer-seller interactions, platform safety to delivery, thanks to their knowledgeable curation/authentication/quality control and tech teams (Data scientists, DevOps, Android Developers…) They’re dedicated to transforming the industry for a more sustainable future by promoting the circular fashion movement as an alternative to overproduction, overconsumption, and the wasteful practices/habits of the fashion sector. Started in 2009, Vestiaire Collective is the leading global online marketplace for desirable pre-loved fashion.