- The new round brings on board Korelya Capital, funds managed by Fidelity International, Vaultier7 and Cuir Invest;
- Existing shareholders Eurazeo (Eurazeo Growth & Idinvest Venture funds), Bpifrance, Vitruvian Partners, Conde Nast, Luxury Tech Fund and Vestiaire Collective’s CEO, Max Bittner also reinvest.
Vestiaire Collective, a global platform for desirable pre-owned fashion completed a $64 million round of financing, existing shareholders reinvest alongside new investors Korelya Capital, which is backed by Korean technology conglomerate Naver, funds managed by Fidelity International, Vaultier7, a specialist female-led consumer fund, and Cuir Invest, which is backed by the French Leather industry.
This new round of funding will allow further acceleration of Vestiaire Collective international business beyond the countries where the company’s community is already well established. Currently, over 80% of the French headquartered company’s transactions are already generated cross-border.
Thanks to Korelya Capital, which is backed by Korean technology conglomerate Naver, Vestiaire Collective will jointly explore the expansion towards Japan, the biggest resale market in the world, and Korea in 2020 and beyond.
This round will help the company to drive ambitious growth in the US market and further develop the Direct Shipping model.
Launched in Europe in September 2019 the service is increasingly popular with a growing number of customers. Currently, over 50% of orders in the EU are fulfilled through the new service, which is also growing at a rate of +60% MoM. The model will be launched in the United States in early summer followed by Asia before the end of 2020.
