Unquote

Tiger Global et al. in €178m round for Vestiaire Collective

  • LinkedIn  
  • Google plus  

Tiger Global Management and French luxury group Kering have invested in a €178m round for online second-hand fashion marketplace Vestiaire Collective.

Also participating in the round were previous backers Eurazeo, BPI France, Vitruvian Partners, Fidelity International, Korelya Capital, Luxury Tech Fund, Condé Nast and Vestiaire CEO Max Bittner.

The company intends to use the fresh capital to consolidate its market position and further expand internationally, primarily in the US and Asia.

Goldman Sachs served as strategic adviser and private placement agent to Vestiaire on the financing round.

Previous funding
Ventech invested €1.5m in a series-A round for the company in June 2010.

Subsequently, Balderton Capital joined Ventech in a €7.5m funding round for the marketplace (then known as Vestiairedecopines.com) in October 2011.

In 2013, Idinvest joined the existing investors in a $20m series-C round led by publishing group Condé Nast.

Eurazeo and a consortium of existing investors provided Vestiaire with a €33m series-D funding round in September 2015. Eurazeo invested via its Eurazeo Croissance arm, contributing around €20m. Previous backers Condé Nast, Balderton Capital, Ventech and Idinvest Partners provided the remainder.

The company raised $62m in a round led by Vitruvian Partners in January 2017, with participation from existing investors Eurazeo and Idinvest.

Subsequently, BPI France led a €40m round for the business in June 2019, alongside Vestiaire's CEO, Max Bittner. Eurazeo, Vitruvian, Idinvest and Balderton also took part in the investment.

More recently, the company raised $64.2m in April 2020. Backers included Korelya Capital, Fidelity International, Vaultier7, Cuir Invest and existing shareholders Eurazeo, Idinvest, BPI France, Vitruvian Partners, Condé Nast, Luxury Tech Fund and CEO Max Bittner.

Company
Established in 2009, Vestiaire is an online platform allowing users to buy and sell pre-owned clothes and accessories.

Vestiaire is headquartered in Paris, with additional offices in New York, Hong Kong and Singapore, and a tech hub in Berlin.

The platform has an inventory of 3 million items that includes 140,000 new listings every week.

People
Tiger Global Management – Griffin Schroeder (partner).
Vestiaire Collective – Max Bittner (CEO).

  • LinkedIn  
  • Google plus  

More on Expansion

Latest News