French luxury resale site Vestiaire Collective’s onward march is continuing with news that it has raised a further €178m in new finance, six months after a previous funding round. The firm is now valued at $1.7bn.
If anybody needed confirmation of how important fashion resale has become, it came on Monday with the announcement by France’s Vestiaire Collective of a new €178m financing round backed by Kering, among others.
As news continues to swirl around Alibaba’s interest in Farfetch, on Tuesday it emerged that investment company Eurazeo has completed the sale in the market in recent days of all its shares in the luxury e-tailer.
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.