Vestiaire Collective secures 20 million dollar investment

Vestiaire Collective, the online resale platform for luxury fashion and accessories, has received a 20 million dollar investment that has been spearheaded by Condé Nast International. Following on from the publishing company’s investment in

indie e-tailer Farfetch in March and e-commerce businesses Monoqi and Renesim in Germany, the group behind magazines such as Vogue, GQ and Glamour has led a 20 million dollar investment in the online fashion store that allows shoppers to buy and sell pre-owned luxury items from Stella McCartney to Burberry.

Condé Nast International’s chairman and chief executive, Jonathan Newhouse, said: “Vestiaire Collective will appeal to our style conscious print and digital audiences around the world.  As our media brands curate the latest fashion and accessories for the consumer, Vestiaire acts as a trusted intermediary between buyers and sellers of pre-owned items.”

Condé Nast invests in Vestiaire Collective

Led by the multimedia company, new investor Idinvest Partners participated in the series C funding round alongside existing investors as Balderton and Ventech. Vestiaire Collective previously received two funding rounds after just a few months of trading, for 1.5 million euros and 7.5 million euros, which were raised to fund its technical development and global expansion.

For the latest round of investment, the online resale platform which was launched in France in 2009, has said that it will use the investment to “consolidate its leader situation in Europe and beyond”, and will make the UK operation a “central focus in the growth of the business and brand internationally”.

Sébastien Fabre, Co-Founder and CEO of Vestiaire Collective, added: “It is clear that inspiration leads to conversion in our environment. The legitimacy and the credibility of Condé Nast will reinforce our capacity to build an endless source of supply, pushing the convergence of pure user generated content and media to create the most inspiring social shopping experience.”

Vestiaire Collective has a growing community of 1.5 million members and lists more than 30,000 new ‘resale’ items every month. Each product, which must be in perfect condition, is verified in person for quality and authenticity to eliminate any possibility of counterfeiting and ensure high standards for its customers.

In 2012, Vestiaire Collective launched its UK office to support the natural growth of the community outside of France, and to strength the platforms position in the UK the company has appointed co-founder Fanny Moizant as UK managing director.