There have been a number of recent articles on the Vestiaire Collective, Chronus 78m Equitydeppengeekwire including the fact that it’s raised $216 million. These articles have focused on the company’s valuation, revenue, and the founders.
Vestiaire Collective raises $216 million
Vestiaire Collective is a French e-commerce platform which facilitates the purchase and sale of high-end secondhand luxury goods. The company has raised a total of $240.2 million in investments to date.
As the secondhand fashion industry continues to grow, consumers are becoming more aware of the impact of their purchase on the environment. Luxury brands are beginning to acknowledge the growing value of the resale market and are looking to work with the platform to provide their customers with high-quality used fashion.
Over the last three years, the pre-owned fashion industry has grown at a fast pace. This is largely due to the increased focus of younger consumers on sustainability. Additionally, the growth in the social shopping trend has also fueled the expansion of the sector.
Vestiaire plans to use the funds to build a comprehensive business model and accelerate international growth. It will also develop new partnerships with brands and enhance services to its community of Fashion Activists.
In addition, the startup will use the funding to promote recycling and reuse, educate consumers and increase the global footprint of the business. Furthermore, the company is aiming to become a carbon neutral enterprise by 2026.
Vestiaire Collective founders
Vestiaire Collective is a Paris based online consignment retailer. It was founded by Fanny Moizant and Sophie Hersan. The site offers a marketplace for luxury pre-owned fashion. They also offer a solution for brands to buy back items.
The company has recently announced a new financing round. During this round, the company raised a whopping $216 million. According to the company, the new cash will be used to grow the business and accelerate innovation in the secondhand market.
Interestingly, the company is also working to reduce the environmental impact of the fashion industry. For instance, the company is using a local-to-local scheme to reduce shipping distances.
Another cool thing the company does is provide the tools and technology to empower its employees to take action on important causes. Some of these include a 15-hour volunteer program and a brand approved service.
In the end, the Vestiaire Collective’s mission is to empower its members to change the way they shop for clothing. As a result, the company has already saved over 1,150 tons of CO2 in its first year.
Vestiaire Collective’s revenue
Vestiaire Collective is an online community that helps people buy and sell pre-owned luxury fashion items. It has a focus on peer-to-peer interaction, which allows consumers to buy and sell luxury goods while helping brands extend the life of their items. This type of business model, which requires no inventory, also offers a way for customers to acquire luxury brands without breaking the bank.
In addition to providing consumers with a trusted and reliable method of buying and selling pre-owned fashion, Vestiaire is dedicated to making sure that its products are authentic. The company invests in quality control services, which help ensure the integrity of its items.
Vestiaire Collective has been recognized as one of the most popular resale platforms for luxury items. As a result, it is in a position to attract new customers. However, the company has experienced some setbacks recently. Currently, it is focused on growth.
Vestiaire Collective recently announced partnerships with British heritage brand Mulberry, as well as Alexander McQueen. They also launched a TV campaign and a direct mail campaign. At the same time, it also aims to become carbon neutral by 2026.
Vestiaire Collective’s valuation
Vestiaire Collective is a company that allows you to buy and sell used luxury goods. It is one of the most popular secondhand platforms for luxury goods.
Founded in 2009, the company has a strong customer base, which includes over four million people. Vestiaire has offices in Paris and London. In addition, it has opened an office in Hong Kong. The company was founded by Alexandre Cognard, Fanny Moizant, and Sebastien Fabre.
Vestiaire has developed partnerships with luxury brands such as Alexander McQueen, Mulberry, and Mytheresa. Vestiaire plans to enter new markets and to expand its services. Ultimately, it aims to be a carbon neutral business by 2026.
Vestiaire has a team of 800 employees at close to twelve offices worldwide. In addition to its core services, the company has invested in authentication and direct-shipping services. This was done to speed up delivery, as well as increase the chances of selling an item.
Conclusion
Vestiaire has also implemented a reward system for trustworthy sellers. For items priced between $80 and 16,500, the company charges a 12 percent fee. Afterwards, the money is released to the seller only if the item is accepted by the buyer.
