A luxury fashion resale web marketplace raises $37 million in funding
09.09.2015 331 views
A luxury online fashion resale marketplace just received a lavish infusion of funding designed to help it continue its global expansion.
Vestiaire Collective, launched in 2009 and based in Paris, announced it has raised $37 million in a Series D funding round. The latest round of funding for the six-year-old company was led by investment firm Eurazeo. According to TechCrunch, this brings the total amount raised by the online marketplace to $68.7 million. Other investors in Vestiaire Collective include Conde Nast International, Ventech and Balderton Capital.
It’s an investment aimed at strengthening the growing marketplace’s position in the U.S. The company launched its U.S. site in November. It also has e-commerce sites in France, Germany, Italy, Spain and the United Kingdom.
“The support of existing investors and the arrival of Eurazeo have reinforced our desire to speed up the implementation of our international development plan,” CEO Sebastien Fabre said in a statement.
A Vestiaire spokeswoman tells Internet Retailer that the company did about 50 million euros ($55.7 million) in sales last year and is averaging 100,000 new members per month.
Source: Internet Retailer