Agenda-setting intelligence, analysis and advice for the global fashion community.
The author has shared a Podcast.You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future.
To subscribe to the BoF Podcast, please follow this link.
This week, a new €178 million round of financing put Vestiaire Collective’s valuation above $1 billion and gave it a high-profile new partner in the form of Kering, one of the world’s leading luxury groups. Having acquired a 5 percent stake in the Paris-based resale company, Kering joined investors like Condé Nast, French private equity firm Eurazeo and tech-focused investment firm Tiger Global Management.
Though resale has become increasingly popular in recent years, thanks to the growth of platforms like Vestiaire Collective, luxury brands have been reticent to get involved. Kering’s investment marks a notable shift in attitude.
In the latest episode of the BoF Podcast, Vestiaire Collectives’s chief executive, Max Bittner, sits down with BoF’s founder and editor-in-chief Imran Amed, to explain why Kering invested in the company and what that investment means for the company’s future, and why he believes the resale market is an exciting and fast-expanding sector.
ADVERTISEMENT
”This is not a short term trend,” said Bittner. “This is something consumers are looking for. This is something especially young consumers are expecting from the brands they want to endorse. So, I think both us and the brands are realising consumers expect us.”
Related Articles:
Why Kering Invested in Vestiaire Collective
Should Luxury Build Resale Into Its Business Model?
Join BoF Professional for the analysis and advice you need. Get 30 days for just $1 or explore group subscriptions for your business.
