Vestiaire Collective has raised new funding with the completion of a $64m finance round. Existing shareholders have reinvested, alongside new names that highlight the appeal of the firm and the bright future of resale.
Sustainability and the customer experience are more and more crucial for the luxury industry, as found in a study by media agency Initiative, which identified six clusters of luxury goods consumers in France.
One of the biggest names in online fashion resale is linking up with one of the world’s top department stores for a year-long physical store with Vestiaire Collective to open at Selfridges, Oxford Street on October 30.
After specialising in luxury, the pre-owned fashion e-tailer is re-focusing on affordable luxury brands, while adapting its purchasing options and commissions to the mid-market segment, and eyeing global expansion.
According to a study from Vestiaire Collective and Boston Consulting Group, luxury brands should be embracing the second-hand fashion boom, not least because it moulds the loyalties of future primary-market consumers.