PARIS – Online consignment store Vestiaire Collective has announced the completion of a €178 million (US$204m) financing round led by luxury fashion conglomerate Kering and US investment firm Tiger Global Management.
Vestiaire has said it will use the finances to scale its technology and data innovation roadmap, which focuses on building the company’s new ‘Brand Approved’ buy-back scheme, empowering its global community of ‘fashion activists’, achieving carbon neutrality by 2026 and becoming a certified B Corp.
Maximilian Bittner, Vestiaire Collective’s CEO, said: “The resale sector as a whole is experiencing rapid growth, especially amongst millennial and gen Z consumers, which will come to shape the retail landscape of the future. We are incredibly excited to welcome Kering and Tiger Global Management, both of which will be instrumental in our mission to build a more sustainable fashion industry and further grow our incredible global community.”
