The round was led by French luxury group Kering and US investment firm Tiger Global Management.

This financing round grants Vestiaire Collective unicorn status and follows a strong year that saw the platform’s transaction volume grow over 100% year-on-year. Balderton first invested in Vestiaire Collective in 2011. Vestiaire Collective will use this financing round to scale up its technology and data innovation roadmap, accelerating its circularity vision along with initiating strategic change in the fashion industry.

A Vestiaire Collective advert

Maximilian Bittner, CEO of Vestiaire Collective

The pre-owned fashion sector has experienced rapid growth over the last three years with even further acceleration during the pandemic.This has been predominantly driven by younger consumers’ increased focus on sustainability and a growing trend for social shopping and online communities. The amount of secondhand pieces in people’s closets is predicted to grow from 21% in 2021 to 27% in 2023 with the value of the secondhand sector forecasted to be worth over $60 billion by 2025.

The secondhand sector is forecast to be worth over $60 billion by 2025

Since its inception in 2009, Vestiaire Collective’s mission has been to extend the lifecycle of products in the fashion industry, supporting a disruptive move towards a circular economy by empowering a community of ‘fashion activists’ to drive profound change.With its combined pillars of global community, strong fashion and sustainability DNA and the high level of trust it has built on the platform, Vestiaire Collective is uniquely positioned to capture an increasing share of the global resale market, demonstrated by its 90% year-on-year membership growth achieved in 2020.