Paris-based eCommerce platform Vestiaire Collective has just closed an additional USD 64.2 million in funding, just 10 months after receiving USD 45 million in Series F funding. They plan to break into Japanese and Korean markets, taking advantage of a predicted rise in demand for digital shopping services amidst the ongoing pandemic.
CEO Max Bittner remains optimistic about the retail industry’s future, stating, “I am personally convinced that this unprecedented period of disruption will not only challenge where we shop but how we shop.”
Investors in the latest funding round include Korelya Capital, a VC firm helping European tech companies expand to the APAC market, Vaultier7 and Cuir Invest. Existing shareholders including Eurazero, Bpifrance, Conde Nast, Vitruvian Partners, Luxury Tech Fund, and Vestiaire Collective’s CEO Max Bittner, who founded Southeast Asia’s largest e-commerce operator Lazada.
Founded in 2009, Vestiaire Collective is the leading global resale site for premium and luxury pre-owned fashion. Over the last few years, the online marketplace has focused on increasing its footprint in Asia and is now looking to further develop its direct shipping model in first the US and then Asia by the end of 2020.
Banner Photo Credit: IG: @vestiaireco