Post Fresh Funding Paris Headquartered Vestiaire Collective Zooms to 1.7 Billion USD Valuation

About Vestiaire Collective

Paris, France headquartered second-hand fashion platform Vestiaire Collective is a global marketplace enabling people to buy and sell luxury, pre-owned fashion products.
Its Linkedin profile states that "we are the leading global app for desirable pre-loved fashion".

With its unique positioning as one of the champions of circular fashion movement and with its highly engaged activist community and it’s rare, desirable inventory of over 2 million items that includes 120,000 new listings every week, Vestiaire Collective is definitely a force to reckon with in the global luxury fashion industry.

Vestiaire Collective - Latest Funding

It has bagged a fresh funding of around USD 210 million dollars as it braces to compete with some of the most exciting companies in the extremely vibrant world of second-hand or pre-loved fashion. This latest round of funding in Vestiaire Collective witnessed the involvement of SoftBank Group Corp and Generation Investment Management.

Increase in Valuation

Of course with the latest fund pumping of around USD 210 million dollars, the value of Vestiaire Collective as a company has jumped to whopping USD 1.7 billion dollars.
The company said that it is both excited as well as aware of the tremendous faith that the industry has shown on them and that they cannot wait to go and build this movement further and faster.

The previous funding round of around USD 216 million dollars in Vestiaire Collective happened in March 2021 and was supported by Gucci-owner Kering and US-based hedge fund Tiger Global Management.

The thriving resale fashion market

With the rise in awareness about sustainable fashion team Vestiaire Collective has predicted that the amount of second-hand pieces in people’s closets would jump to 27% in 2023 from the current 21 percent in 2021. Many believe that the fashion resale market would cross the USD 60 billion dollars cap by year 2025.

This definitely means that companies catering to circular fashion would definitely reap the rewards of providing the best possible solutions and options to consumers. Many global fashion companies have also joined the second-hand fashion bandwagon with the likes of H&M and Urban Outfitters planning to introduce their own resale platforms very soon.