Bengaluru: Vestiaire Collective, a leading European pre-owned luxury fashion and accessories firm, raises $37 million in its Series D funding round led by Eurazeo through Eurazeo Croissance ($22 million). Its existing investors – Balderton Capital, Conde Nast, Idinvest partners and Ventech – also made significant contributions to the round. The company will use the fresh funds to strengthen its hold in the European market and accelerate its business growth in the United States.
Speaking about the new fundraising, Sébastien Fabre, Founder & CEO, Vestiaire Collective, says, “This capital-raising represents a phase in the life of Vestiaire Collective in which, as an entrepreneur, I take particular pride. We are setting the conditions for hyper growth. Current investor support and the arrival of Eurazeo have strengthened our resolve to fast-track the roll-out of our international development plan”.
“Faced with changing consumption patterns, digital technology, community networks, luxury goods and brands, Vestiaire Collective represents the type of investment we wish to conduct with Eurazeo Croissance,” says Virginie Morgon, Deputy CEO, Eurazeo.
Speaking in his shadow, Yann-Hervé du Rusquec, Head of Eurazeo Croissance, adds, “Vestiaire Collective is a fabulous entrepreneurial venture. We are pleased to be a part of it and will pool together our energy, network and expertise to support the company in its international expansion”.
Headquartered in London, Vestiaire Collective was founded in 2009 by Sophie Hersan, Henrique Fernandes, Christian Jorge, Alexandre Cognard, Fanny Moizant, Sebastien Fabre. It is a worldwide marketplace for the resale of luxury fashion apparels and other accessories. The company empowers the user to buy and sell handbags, accessories and second-hand clothing for men, women and children. All the items are thoroughly verified about their brand genuinity and quality by the company’s experts before being shipped to the buyers.