Vitruvian leads €58m series-E round for Vestiaire

Alice Tchernookova
25 January 2017

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Private equity firm Vitruvian Partners has led a €58m ($62m) series-E round for luxury second-hand online market Vestiaire Collective.

Existing shareholders Eurazeo and Idinvest Partners, which respectively entered the group in 2015 and 2013, also took part in the round.

The investment marks Vitruvian's first investment in France, partner Thomas Studd said in a statement.

The financing will help Vestiaire continue international growth and increase operational capabilities, the company said in a statement. Building on its European presence, the group intends to reinforce its positions in the US (which it entered in 2015) and the Asia-Pacific markets. Around 65% of the company's revenues are currently generated outside France, it claimed.

Funds will also be allocated to the strengthening of Vestiaire's distribution platform and the improvement of user experience on multiple devices. The company intends to hire an extra 120 people, as the group plans to open extra logistics centres in France over the coming year, a company statement read.

This year, Vitruvian is expected to launch fundraising for its next vehicle, Vitruvian Investment Partnership III, registered in August 2016, as reported by unquote".

Previous funding
Vestiaire has so far raised a total of €116m over five rounds. The platform first received a €1.5m series-A round led by Ventech in 2010. The following year, the GP took part in a series-B round worth €7.5m, alongside Balderton Capital.

In 2013, media company Condé Nast led a series-C round worth $20m, accompanied by Balderton, Ventech, and Idinvest Partners. Two years later, Eurazeo joined the pool of investors through a £37m series-D round.

Company
Founded in 2009 in Paris, Vestiaire is a global marketplace for buying and selling luxury, pre-owned fashion products.

The company operates platforms in France, the UK, Germany, Spain, Italy and the Nordic region.

Vestiaire's revenues have doubled each year since its debut, several sources report. In 2012, the site generated an €18m turnover. The site currently claims to have four million users.

People
Vitruvian Partners – Thomas Stuff (partner).
Eurazeo – Yann du Rusquec (managing director).
Idinvest Partners – Matthieu Baret (partner).