The Vestiaire Collective recently raised a round of funding, Chronus 78m Equitydeppengeekwire allowing the company to continue building its innovative business model. This is an exciting opportunity for investors to get involved with an emerging company.
Vestiaire Collective
Vestiaire Collective, the leading global online marketplace for pre-loved fashion items, has recently announced its Series D funding round. The round was led by French luxury group Kering and is backed by Tiger Global Management. This round will help Vestiaire Collective accelerate growth in the second-hand market. It also aims to drive changes in the fashion industry towards a more sustainable one.
Vestiaire Collective offers customers a unique shopping experience. They provide consumers with an opportunity to buy second-hand designer goods at a discounted price. At the same time, it promotes the circular fashion movement. By allowing shoppers to sell their own used items, it helps reduce waste.
In addition, Vestiaire Collective provides its customers with tools and features that empower them to participate in a more sustainable way. Their community includes ‘fashion activists’ who work with the company to create a variety of new initiatives. These efforts include the launch of a ‘Brand Approved’ service. Another initiative is their ‘Follow the Leaf’ program.
Funding round
The folks over at the collective have been busy raising a couple of large pots of cash. Their latest round of funding was the big one, and it was an exciting occasion for both the investors and the employees who were rewarded with a well deserved pay rise. This new found wealth will no doubt play a part in the company’s continued expansion, both in the United States and Asia. Among the company’s current investors are Breakthrough Energy Ventures, Moore Strategic Ventures, and a slew of high net worth individuals. Vestiaire Collective is a multi-faceted company, offering a marketplace and a direct shipping service. It also has partnerships with leading health care providers. With the money in hand, the 155 techies on the roster can get down to business.
While the company is still in the early stages of development, the 216 million dollar influx is a major step in the right direction. Vestiaire will be hiring a sizable team to take on its challenge. To date, the company has doubled its sales in a single month, and has a healthy pipeline of acquisitions in the works.
Collections platform
The Vestiaire Collective is a bespoke online marketplace that allows consumers to purchase pre-owned luxury goods at a fraction of their original retail price. While it’s not the only oh he is the man, it does stand out in the crowd for its commitment to sustainability. Among its many innovations are an on-site recycling program and direct shipping options to boot. It’s also the quickest way to procure the newest designer goods without the fuss. In a recent round of funding, Vestiaire secured a whopping $216 million in Series D funding, led by French luxury brand Kering. This enables the company to continue its growth path while taking on the competition.
In the past six months, the company has grown from a small start-up to a full-fledged powerhouse. Among its achievements is doubling its transaction volume. Meanwhile, the startup has garnered multiple trophies, including the prestigious TechStars FinTech award. To top it all off, the company has been rewarded with the honor of being one of the hottest startups in France.
Unconventional business model
The Kering Group is one of the most important luxury brands in the world. It has a wide portfolio of luxury and sport & lifestyle brands such as Bottega Veneta, Gucci, Puma, and Saint Laurent. In 2017, the Kering group made over EUR15 billion. By focusing on a multi-brand business model, the company has been able to achieve a great deal of success.
Conclusion
The Kering group has a unique decentralized approach, which enables the company to operate quickly, while also ensuring a high level of accountability. This allows the group to make fast decisions that will benefit the company’s entire portfolio of brands. Moreover, the Kering Group has the ability to leverage economies of scale and take advantage of synergies between brands. With the help of its central holding, the group can offer its brands a unique opportunity for rapid growth.
