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Vestiaire Collective announced Monday evening a new fund raising of 178 million euros, from the French luxury group Kering and the American investment company Tiger Global Management.
The historical shareholders of the second-hand fashion platform, Maximilian Bittner, CEO of Vestiaire Collective, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture), some of the funds managed by Fidelity International, Korelya Capital (supported by NAVER), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners are also reinvesting.
After a very good year in 2020, which saw the volume of transactions on the platform increase by more than 100% compared to the previous year, this fund raising grants the status of “unicorn” to Vestiaire Collective and aims to launch a new phase of accelerated growth.
By investing in Vestiaire Collective with a stake of around 5% and by being represented on the board of directors, Kering is illustrating its strategy of supporting the development of innovative models, opening up to new market trends and exploring new services for fashion and luxury goods customers.
Read also > ALEXANDER MCQUEEN AND VESTIAIRE COLLECTIVE UNVEIL THEIR LASTING COLLABORATION
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