Vestiaire Collective joins the circle of French unicorns (there are a dozen of them), these start-up companies valued at more than one billion euros.
The specialist in second-hand luxury items has just raised 178 million euros from the luxury group Kering (Gucci, Saint Laurent, Balenciaga, Alexander McQueen, etc.) and the Tiger Global Management fund.
Kering is participating in this fundraising to the tune of around fifty million euros.
He is thus offering a 5% stake in Vestiaire Collective, alongside the historic founding investors (including Maximilian Bittner, its CEO), Bpifrance, Condé Nast and Eurazeo.
Read also:
Dividends at half mast for luxury values at the top
The Covid crisis benefited the second-hand site.
Its volume of transactions, kept secret, grew by 100% in 2020, while the number of its users rose from 9 to 11 million members.
"
But the Covid is only an accelerator
," said Maximilan Bittner, CEO of Vestiaire Collective.
The growth in second-hand purchases is a
This article is for subscribers only.
You have 72% left to discover.
Subscribe: 1 € the first month
Can be canceled at any time
I ENJOY IT
Already subscribed?
Log in