Vestiaire Collective is an online luxury fashion marketplace founded in France in 2009. The platform focuses on bringing buyers and sellers of pre-owned luxury fashion items together in one convenient location, allowing customers to purchase items at significantly discounted prices.
In 2019, the company raised $216 million in Series E funding and was valued at $1 billion. This investment was led by Vitruvian Partners and placed Vestiaire Collective firmly in the ranks of Europe’s hottest startups.
The Evolution of Vestiaire Collective
Vestiaire Collective began as a reality show called “La Veste” on M6, a French television station, which charged viewers to witness the buying and selling of second-hand luxury fashion items. The show was cancelled after three seasons, but the name “Vestiaire Collective” stuck with the company founders, Fanny Méléard and Sébastien Fabre.
In 2009, the pair launched an online marketplace under the Vestiaire name, targeting women between the ages of 30-50. This core demographic had grown up shopping in traditional brick and mortar stores but was transitioning to an online shopping experience.
The Boom of the Luxury Buy & Sell Market
The trend of buying and selling pre-owned luxury fashion items has grown immensely since Vestiaire Collective’s launch in 2009. The “sharing economy” has enabled consumers to access a much wider variety of items than ever before. Additionally, rising disposable incomes in developing markets has made it increasingly possible for people around the world to purchase and sell luxury items.
This has spurred Vestiaire Collective to expand into new markets. The company now has 7 million members in over 50 countries and is looking to expand further.
Search Engine Optimization and Mobile Shopping
Vestiaire Collective has also leveraged a lot of its Series E investment funds to improve their search engine optimization (SEO). This has resulted in an increased visibility of the platform on search portals such as Google. This in turn has led to greater customer acquisition and retention.
The company has also invested heavily in their mobile shopping capabilities, allowing customers to easily make purchases from their phones or tablets. With over 60% of Vestiaire Collective’s customers using mobile devices, providing a seamless mobile shopping experience has been key to the company’s success.
Conclusion
By leveraging the power of digital marketing, search engine optimization, and a robust mobile shopping experience, Vestiaire Collective has become one of the hottest luxury fashion marketplaces in Europe. With a successful Series E funding round and a subsequent $1 billion valuation, the company is well poised to continue expanding into new markets and offer even more pre-owned luxury fashion items at competitive prices.
Related FAQs
Q1. What is Vestiaire Collective?
A1. Vestiaire Collective is an online luxury fashion marketplace founded in France in 2009.
Q2. How has Vestiaire Collective evolved since its conception?
A2. Since its conception in 2009, Vestiaire Collective has expanded into a global marketplace with over 7 million members in over 50 countries.
Q3. What methods has Vestiaire Collective used to improve customer acquisition and retention?
A3. Vestiaire Collective has used search engine optimization (SEO) and a robust mobile shopping experience to improve customer acquisition and retention.
Q4. How much money did Vestiaire Collective raise in 2019?
A4. In 2019, Vestiaire Collective raised $216 million in Series E funding and was valued at $1 billion.
Q5. What is vestiaire 216m 1b dillettechcrunch?
A5. Vestiaire 216m 1b dillettechcrunch is the company’s Series E funding round that raised $216 million and gave the company an estimated value of $1 billion.
Q6. About collective 216m kering 1b dillettechcrunch.
A6. Vestiaire Collective raised $216 million in Series E funding in 2019. The investment was led by Kering and gave the company a valuation of $1 billion.
