Thursday, March 28, 2024
Thursday, March 28, 2024
Home » Vestiaire Collective Launches in South Korea

Vestiaire Collective Launches in South Korea

by Jude Turner
0 comment

The expansion of the Paris-based tech start-up that hit unicorn status last year comes as pre-owned fashion sales continue to grow quickly, fuelled by young, environmentally conscious shoppers seeking bargains for second-hand clothing.

The platform will be available in Korean and the company is adding an authentication site to its operations in Seoul.

While luxury labels have traditionally been wary of secondhand sellers, an increasing number are exploring ways of getting involved in the market, partly as a way to engage with younger consumers or to provide an extra service to high-spending shoppers.

Investors in Vestiaire Collective include French luxury group Kering SA which took a 5% stake last year, as well as private equity firm Eurazeo SE, Japan’s SoftBank Group, U.S. investment firm Tiger Global Management and Vogue publisher Conde Nast.

Founded in Paris in 2009, the platform sells fashion and leather accessories from luxury labels such as Louis Vuitton, Gucci, Prada and Dior, and in May marked its highest transaction – a Birkin handbag from Hermes that sold for 158,000 euros

Source: Retail News Asia

You may also like

Soledad is the Best Newspaper and Magazine WordPress Theme with tons of options and demos ready to import. This theme is perfect for blogs and excellent for online stores, news, magazine or review sites. Buy Soledad now!

Fashon Asia, A Media Company – All Right Reserved.