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.
Can a bag save the world? Possibly not, but it can at least prevent it from becoming more polluted. At Mulberry the new goal is a farm-to-finished product supply chain. The house’s CEO Thierry Andretta explains how.
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.
Virgil Abloh does enjoy breaking the rules. His latest video presentation, in this case the Off-White Spring/Summer 2021 collection, which debuted online Tuesday lunchtime in Europe, is a case in point.
The pre-owned fashion market is forecast to grow worldwide by 15-20% per year until 2025, says a survey by BCG for resale specialist Vestiaire Collective, outlining the different profiles of the market’s players.
The French second-hand fashion e-tailer, looking to boost its tech capabilities and accelerate international deployment, has completed a funding round worth €40 million with BPI France and its own CEO.
The world is changing and fashion and beauty need to change too - and fast - speakers at the Decoded Future summit in London said. Sustainable packaging, rental, resale and Gen Z mean the old rules no longer apply.