French company Vestiaire Collective, which specialises in the online sale of second-hand luxury clothing and accessories, has raised €178 million in a deal aimed at increasing its valuation to €1.45 billion.
Vestiaire Collective‘s activities have increased significantly over the last twelve months : the company indicates that the total number of its orders has increased by more than 90% in one year, with in particular strong growth in the United States and Asia. In addition, Vestiaire Collectif now has around 500 employees spread between France, Germany, the United States, Hong Kong and Singapore.
This valuation comes in a favourable and particularly lucrative context for the entire French Tech sector. Indeed, the announcement of Vestiaire Collective comes after two other record fundraisings, one by the start-up Sorare, which is an online game of exchanging football players’ thumbnails, for 580 million euros, and the one carried out by the software publisher Mirakl with 473 million euros.
Generally speaking, French Tech start-ups have never had such a successful year, with fundraising exceeding previous annual records as early as June.
In addition, Vestiaire Collective now displays the ”B Corp” certification, which marks its commitment to the social and environmental standards in force.
Featured photo : © Vestiaire Collective