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Vestiaire Collective chief executive Max Bittner is exiting the Paris-based resale platform after seven years, the company announced Monday.
In his place, the platform has promoted chief financial officer Bernard Osta, who served as chief strategy officer when he first joined Vestiaire Collective in 2021. Prior to that, he spent more than two decades as an investment banker, working for Goldman Sachs and Lazard.
Under Osta, Vestiaire Collective will continue to grow its audience in Europe, the US and Asia, as well as invest in authentication capabilities and AI innovation, the company said.
Vestiaire Collective, a mostly peer-to-peer resale service, has raised more than $700 million across 12 rounds of funding since its inception in 2009 from investors including Softbank and Eurazeo, its biggest shareholder. Its valuation from a 2023 round totalled €1.1 billion, or $1.2 billion at the time.
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Last year, the company said it would explore the possibility of an initial public offering after reaching profitability.
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Why Is Vestiaire Collective Crowdfunding?
The move is more about marketing than finances. But it provides a good excuse to check in how the luxury resale player is adapting in a brutal marketplace for fashion start-ups and resale platforms alike.
