Vestiaire Collective, a France-based online social marketplace for the curated reselling of luxury fashion items, has secured $20m series C financing led by magazine publisher Condé Nast International and including venture capital firms IDInvest Partners, Balderton Capital and Ventech.
James Bilefield joins the board of Vestiaire on behalf of Condé Nast International.
Previously, Vestiaire Collective raised $9.9m series B finance in October 2011 and $2m series A finance in June 2010.
Earlier in March 2013, Condé Nast led a $20m investment in Farfetch.com, a UK–based online market for independent fashion labels.
Jonathan Newhouse, Condé Nast chairman and chief executive, said: “Vestiaire Collective will appeal to our style-conscious print and digital audiences around the world. As our media brands curate the latest fashion and accessories for the consumer, Vestiaire acts as a trusted intermediary between buyers and sellers of pre-owned items.”
Sébastien Fabre, Vestiaire Collective co-founder and chief executive officer, said: “The legitimacy and the credibility of Condé Nast will reinforce our capacity to build an endless source of supply, pushing the convergence of pure user-generated content and media to create the most inspiring social shopping experience.”
Mortiz von Laffert, vice president of Condé Nast International, said: “The first investment of its kind by Condé Nast International in France, this follows our recent investments in farfetch, Monoqi and Renesim, and investment activity of our parent company Advance Publications in the USA.”
Vestiaire Collective was established in 2009.
News of Vestiaire Collective’s latest fundraising follows shortly after the announcement at the end of August that France-based fashion community Videdressing.com, a similar “rendezvous” community for reselling fashion items, raised approximately $1.7m from the Samwer brothers’ Global Founders Capital fund.