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The platform specializing in second-hand clothing and fashion accessories, Vestiaire Collective, has announced the acquisition of its American competitor Tradesy for an as yet unknown amount. Founded in 2009 by Tracy DiNunzio, this is the first acquisition of the Tradesy resale platform since its creation.
Together, the two platforms now represent 23 million members, a selection of more than 5 million items and a transaction volume of more than one billion dollars.
“This acquisition confirms Vestiaire Collective’s ambition to be a truly global player, aiming to promote circular fashion in Europe, the United States and Asia-Pacific,” says Maximilian Bittner, CEO of the French platform Vestiaire Collective.
Fanny Moizant, Founder and President of Vestiaire Collective, underlines “the scale that this operation” allows to reach as well as “the advantages that result from it on a strongly buoyant American market”.
With this action, Vestiaire Collective is pursuing its development strategy in the United States, the driving market for second-hand goods and the first market to record the strongest growth of 75% in one year. Tracy DiNunzio, Founder and CEO of Tradesy, will take up her new position as Managing Director of all US operations.
A promising market for the future
Last March, Vestiaire Collective announced that it had raised 178 million euros from the French luxury group Kering and the American investment company Tiger Global Management. With this action, Vestaire Collective was able to achieve the status of 11th French unicorn, with the ambition of starting a new phase of accelerated growth.
During the pandemic, the second-hand sector has continued to grow and is becoming a very competitive sector, growing four times faster than the new sector. Indeed, resale platforms specialising in high-end and luxury second-hand goods are multiplying on the market. According to a study by Bain and Company, the second-hand market will be worth 33 billion euros in 2021, with 65% growth between 2017 and 2021, compared with 12% growth over the same period for new luxury goods, according to the same study.
Read also > LUXURY : SECOND HAND IS GROWING FOUR TIMES FASTER THAN NEW, ACCORDING TO BAIN & COMPANY
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The platform specializing in second-hand clothing and fashion accessories, Vestiaire Collective, has announced the acquisition of its American competitor Tradesy for an as yet unknown amount. Founded in 2009 by Tracy DiNunzio, this is the first acquisition of the Tradesy resale platform since its creation.
Together, the two platforms now represent 23 million members, a selection of more than 5 million items and a transaction volume of more than one billion dollars.
“This acquisition confirms Vestiaire Collective’s ambition to be a truly global player, aiming to promote circular fashion in Europe, the United States and Asia-Pacific,” says Maximilian Bittner, CEO of the French platform Vestiaire Collective.
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The platform specializing in second-hand clothing and fashion accessories, Vestiaire Collective, has announced the acquisition of its American competitor Tradesy for an as yet unknown amount. Founded in 2009 by Tracy DiNunzio, this is the first acquisition of the Tradesy resale platform since its creation.
Together, the two platforms now represent 23 million members, a selection of more than 5 million items and a transaction volume of more than one billion dollars.
“This acquisition confirms Vestiaire Collective’s ambition to be a truly global player, aiming to promote circular fashion in Europe, the United States and Asia-Pacific,” says Maximilian Bittner, CEO of the French platform Vestiaire Collective.
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