Condé Nast-backed premium second-hand marketplace Vestiaire Collective has lifted its funding tally to $176m with a $45.2m round co-led by BPIfrance.
Vestiaire Collective, a France-based online second-hand fashion marketplace backed by media group Condé Nast, has closed a €40m ($45.2m) round that was co-led by its CEO, Max Bittner, and government-owned investment bank BPIfrance.
The round also featured Vitruvian Partners, Idinvest Partners, Eurazeo Growth and Balderton Capital, all of which participated as existing investors. The company has now raised approximately $176m altogether.
Founded in 2009, Vestaire operates an e-commerce platform where users can buy or sell high-end and luxury fashion items that have been curated and authenticated as genuine by a company employee prior to their listing.
Vestaire supplies items for both men and women, including products from designer brands like Gucci and Dolce & Gabbana. It intends to enhance the platform by enhancing its technology and data capabilities to support customers, brands and retailers.
The company is also targeting international growth in markets like Asia where Bittner, who was appointed CEO in November 2018, has experience gained from his founding role at Singapore-based online consumer goods marketplace Lazada.
Bittner said: “We want to build an international tech and data first company, leveraging Vestiaire Collective’s incredible brand and fashion DNA. We would like to thank BPIfrance and our existing shareholders for their amazing support.”
Vestiare received $20m in a 2013 series C round led by Condé Nast that also featured Idinvest Partners, Balderton Capital and Ventech, before all four returned for a $36.8m series D two years later.
The company subsequently collected $62m in an early 2017 described in media reports as a series E, which was led by Vitruvian Partners and backed by Idinvest and Eurazeo.