Vestiaire Collective Raises $37 Million to Advance U.S. Growth

Hermès handbags for everyone!
Avatar:
Maura Brannigan
Author:
Publish date:
Social count:
1402
Hermès handbags for everyone!

Since its launch in 2009, Paris-based Vestiaire Collective has been among a leading group of online consignment retailers — which also includes The RealReal, ThredUp and Vaunte in the US — posing some serious competition to Ebay and brick-and-mortar consignment stores. With more than four million active members (and 100,000 joining each month), Vestiaire is expanding rapidly, both in its native Europe and overseas. And after a successful round of Series D funding, it will now be able to act on its plans to nurture its US business.

On Thursday, Vestiaire Collective announced that it had raised $37 million, one of the largest funding rounds for a start-up in France this year to date. The series was led by French investment firm Eurazeo, with participation from a number of existing investors, including Condé Nast. The news was first reported by Business of Fashion.

At this point, Vestiaire Collective's main priority lies in international expansion. While its European business remains strong, the company intends to roll out an "ambitious" enlargement in the US following its official American launch in Nov. 2014. The program, according to a release, will range from growing its New York-based operations to expanding its stateside VIP service.

The buzzword, at least as far as its US plans are concerned, is "growth" — and lots of it. The company says sales have doubled each year since its debut. Investors, it seems, have the utmost confidence in this rocketing start-up, pouring $68 million into the company over the past five years. 

For now, the company is staying mum on specifics regarding its future projects. There's a lot that can be done with $37 million, though.