Vestiaire Collective raises $62 million for its pre-owned fashion marketplace
Vestiaire Collective is slowly but surely turning into a giant e-commerce platform for clothes and fashion accessories. Think about it as a sort of eBay for fashion items, but with a premium positioning. The French startup just raised $62 million (€58 million).
Vitruvian Partners is leading the round, with existing investors Eurazeo and Idinvest also participating in the round. Overall, the company has raised $118 million (€110 million) from those investors, as well as Zadig & Voltaire, Ventech, Balderton Capital and Condé Nast International.
France is still Vestiaire Collective’s main market with 35 percent of the company’s sales. But it wants to turn a local success into a global company. Like many other e-commerce players, it has raised huge amounts of money.
It turns out that e-commerce is a capital-intensive industry. Evidence of this lies in the upcoming logistics facility in France that should expand the company’s inventory in Europe.
Compared to other second-hand platforms, Vestiaire Collective checks every item before putting them on the site. It improves trust, the user experience on the site with detailed product pages and the shopping experience with a standardized shipping process.
Vestiaire Collective is already leading in the U.K., Germany, Spain and Italy. Today’s funding round is all about going beyond Europe. While the company already has an office in the U.S., it’s time to go further and generate more sales in the U.S. as this is a huge fashion market. The startup also says that it plans to expand to Asia at some point in 2017.