Vestiaire Collective raises $64.2 million for its second-hand fashion platform

Vestiaire Collective just closed another big round of funding in the middle of an economic crisis — the round closed in early April. The startup raised $64.2 million (€59 million) and the company has raised more than €209 million in total, according to Crunchbase. Vestiaire Collective operates a marketplace of pre-owned fashion items. Users can both sell and buy clothes and accessories on the platform.
There’s a huge list of investors in today’s round — Korelya Capital, Fidelity International-managed funds, Vaultier7, Cuit Invest and existing investors Eurazeo (Eurazeo Growth and Idinvest Venture funds), Bpifrance, Vitruvian Partners, Condé Nast, Luxury Tech Fund and Vestiaire Collective CEO Max Bittner are all participating.
With 9 million members across 90 countries, Vestiaire Collective has become a huge marketplace. And it makes sense that an e-commerce website focused on pre-owned items is working well. There has been a ton of backlash against fast fashion over the past few years.
People now also value circular business models as it becomes more affordable to refresh your wardrobe, especially during an economic crisis, and it is better for the environment.
As always, Vestiaire Collective will use the new influx of cash to expand to more countries. In particular, with Korelya Capital as a new backer, the company will expand to South Korea and Japan this year. While the company started in France, 80% of transactions are now cross-border transactions.
Originally, Vestiaire Collective asked you to send your items to its warehouses to check them before putting them on sale. The startup has been betting on direct shipping from the seller to the buyer in Europe and it has been working well. You can get reimbursed if there’s something wrong with what you ordered though.
Direct shipping has been available in Europe since September 2019 and it now represents over 50% of orders in the region. Up next, Vestiaire Collective will introduce direct shipping in the U.S. this summer and in Asia by the end of 2020.
oa here

6 best vintage shops where millennials and Gen Zers are buying their Gucci, Dior and Prada handbags

The drawers in your mother’s closet are probably a treasure trove full of archival designs you can no longer find in stores. Otherwise, second-hand goods are the answer.

The interest in vintage designer bags has also grown considerably among millennials and Gen Zers. Photo: @DILN_

The year is 2019, but curiously many are dressed more like their ‘90s style icons these days. Some are even revisiting throwback fashion trends from the 2000s that we all thought should be left in the past. After dad shoes, scrunchies, bucket hats and tiny sunglasses became hot fashion items in the past two years, capri pants and biker shorts are now having a moment. The interest in vintage designer bags has also grown considerably among millennials and Gen Zers. From Fendi’s Zucca print and Dior’s signature branding, to Gucci’s house monogram and Prada’s classic, inverted triangle logo plate, retro purses are all over Instagram.

So, where can you find these old luxury handbags? The easy answer would be your mother’s wardrobe. Those drawers of hers are like a treasure trove full of archival designs you can no longer find in stores. You’ll just have to rummage through them for your dream bag, and hope that your mum doesn’t notice anything has gone missing. Just kidding.

For those who prefer a less sneaky route, we’ve rounded up a list of the six best stores to shop for designer bags online. Read on to learn where we get our second-hand goods.

The RealReal

 

Vestiaire Collective

Vestiaire Collective is where supermodel Karlie Kloss shops her Chanel bags, so you know it’s got to have a great selection. Another major player in the reselling market, the web store sees a vast line-up of pre-owned handbags by Prada, Fendi and the like — all available at reduced prices.

 

What Goes Around Comes Around

Luxury Garage Sale

 If you’re a fan of designer bags but not particularly fond of the price tags they come with, then Luxury Garage Sale will be your new best friend. The upscale consignment store offers a massive range of coveted styles, including archival styles from Saint Laurent and Louis Vuitton. Check the site now to see if you can find any bargains.

Madison Avenue Couture

The Hermès Birkin is one of the most coveted luxury handbags on the market. If that’s your ultimate dream bag, look no further than Madison Avenue Couture. The store carries a huge selection of new and preloved Birkins that are difficult to get hold of.

Rebag

 

 From vintage Prada to Goyard and Balenciaga, expect to find a stunning array of statement designer handbags at vastly reduced prices on Rebag’s website. For those who live in California, Florida or New York, you may also visit Rebag’s IRL locations to see its inventory in person.

oa here

Vestiaire Collective finds 73% of women just can't spot a fake

73% of Australian women are not sure how to tell a counterfeit fashion item from a genuine piece, according to findings from a survey commissioned by designer re-sale site Vestiaire Collective. 

 

 

The survey, which consulted more than 500 Australian women aged 25-45, also found that 45% of respondents have been fooled into buying a fake item, while 63% have been tricked into buying a knock-off more than once.

The survey results also indicated that 43% of respondents were angry about how much money they had spent on a knock-off, while 18% of women were not able to reclaim any money spent on a fake, despite their best efforts.

According to the World Customs Organisation, in 2017 counterfeit goods accounted for approximately 10% of global trade, totalling US$1.2 trillion annually. The counterfeit industry is estimated to reach US$1.82 trillion by 2020.
Handbags and sunglasses are the most purchased counterfeit products, with 50% of respondents indicating that they didn't know that the items were fakes until after making the purchase.

Vestiaire Collective head of authentication and quality control Victoire Boyer Chammard said that there are four key signs that an item might be counterfeit.

A few tell-tell signs of a fake include:
- Material: The leather should feel like leather, take time to feel and even smell it.
- Typography: Check the logo, which is often a slip up area for many fakes.
- Stitching: Take a good look at the stitching, uneven or slanted stitching is a sign of a poorly made item.
- Serial number: Look for a serial number and ask to see proof of purchase if you’re buying online," she said.
Vestiaire Collective is a member of the Charter Against Counterfeiting on the Internet and campaigns to stamp out fakes from its APAC hub in Hong Kong.

oa here