Paris-based luxury marketplace Vestiaire Collective (née Vestiaire de Copines) raised $20 million Series C funding.
The startup, which allows anyone to buy and sell second-hand luxury items, received more than $10 million from magazine publisher Condé Nast best known for publishing Fashion magazine Vogue among many others. Other investors included Idinvest, and previous investors Balderton and Ventech.
“The new funding will help us expand our activities on the European market, starting with Germany,” Vestiaire Collective U.S. director Adrien Wiesebron told me. “We will grow the New York team as well,” he continued.
The company, which opened an office in London and launched in the U.K. in March 2012 began operations in the U.S. in March 2013. The startup boasts of 1.5 million users — up from 1 million back in May 2013 which goes on to show the viability of the idea.
Vestiaire Collective had previously raised $11.9 million (€9 million) over two rounds.
President of Condé Nast’s digital activities James Bilefield will join the board and the media company hints at potential ads for Vestiaire Collective in its magazines (Vogue, GQ, Vanity Fair…). Contrarily to what many ecommerce startups do, Vestiaire Collective doesn’t plan to acquire smaller competitors in the short term — it’s all about growth for now.