Vestiaire Collective secures $37 million funding, led by Eurazeo to accelerate European and US growth plans.
Clipperton Finance acted as Sole Manager of the transaction
Paris – September, 9th 2015 – Clipperton Finance today announces the closing of a $37 million new round of funding for Vestiaire Collective, the international leader in luxury and premium resale. This funding round was led by French investment firm Eurazeo who were joined by existing investors, Ventech, Balderton, Condé Nast and Idinvest. The new funding round, which is one of the largest in France in 2015, demonstrates strong investor confidence in the unique model of the innovative French company, which has reimagined the online re-sale marketplace structure for the contemporary consumer.
Eurazeo Croissance has contributed $22.5 million to the $37 million in funds raised by the syndicate and will be represented on the Board of Directors by Christian Blanckaert, the former CEO of Hermès International, a director of Moncler and renowned expert in the luxury goods sector and international development.
Launched in 2009, Vestiaire Collective quickly acquired a unique position in Europe, built around a combination of desirable curation, authenticity and quality control along with a social shopping experience. With offices in Paris, London, Berlin and New York, Vestiaire Collective is now the undisputed European leader in the field, building a community of more than four million members with 100,000 new members joining every month across 40 countries.
The proceeds of this new round will allow the company to strengthen its global leadership in the high-end segment, by both consolidating its position in Europe and continuing to nurture an ambitious plan in the US following encouraging initial results following the official stateside launch in November 2014. In addition to the international roll-out, the aims of this new capital increase are to support the innovative strategy of the French market leader and to continue to develop the reputation of the brand internationally and strengthen the growing international teams. The company targets $100m in GMV within the next 6 to 12 months, of which a significant proportion will be cross-border (more than 60% of transactions already).
Sebastien Fabre, co-founder and CEO of Vestiaire Collective, said: “A long-term approach and the building of a loyal community of users is part of our DNA at Vestiaire Collective. As such, I am glad that Clipperton Finance could leverage our common history, their domain expertise and their relationships in the digital media sector to assist us for the 3rd time since 2011 in the negotiation and execution of this transaction. This round of funding is an integral part of the next phase of expansion for Vestiaire Collective, which I am particularly proud of as founder”.
Olivier Marcheteau, COO of Vestiaire Collective, added: “The support of existing investors and the arrival of Eurazeo have reinforced our desire to accelerate the implementation of our international development plan. Thanks to this fundraising, we will be able to offer our buyers a limitless worldwide supply capacity and our sellers an access to an unlimited worldwide base of customers”.
This fundraising is the third transaction realized by Clipperton Finance for Vestiaire Collective after the company’s $20m fundraising in September 2013 and the $10m B-round in September 2011. With the closing of this transaction (the tenth in 2015),Clipperton Finance continues to bolster its track-record in the marketplace/e-commerce segment (following other recent successes with asgoodasnew, Menlook and1001pneusto name a few).
For more information, please contact:
Stéphane Valorge, Partner, svalorge@clipperton.
Thomas Neveux, Partner, tneveux@clipperton.
Augustin Blanchard, Vice-President, ablanchard@
Olivier Combaudou, Associate, ocombaudou@
About Clipperton Finance
Clipperton Finance is a European independent corporate finance advisory firm exclusively dedicated to the Technology and Healthcare industries, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach,Clipperton Finance is a European leader in Technology financial advisory. Over the past 15 years, the team has successfully completed more than 150 high profile transactions globally.For more information, visit www.clipperton.net