![Unraveling Kering’s Investment in Vestiaire Collective]()
March 5, 2021
Vestiaire Collective’s chief executive Max Bittner opens up about the resale platform’s big deal with the French luxury group.
This week, a new €178 million round of financing put Vestiaire Collective’s valuation above $1 billion and gave it a high-profile new partner in the form of Kering, one of the world’s leading luxury groups. Having acquired a 5 percent stake in the Paris-based resale company, Kering joined investors like Condé Nast, French private equity firm Eurazeo and tech-focused investment firm Tiger Global Management.
Though resale has become increasingly popular in recent years, thanks to the growth of platforms like Vestiaire Collective, luxury brands have been reticent to get involved. Kering’s investment marks a notable shift in attitude.
In the latest episode of the BoF Podcast, Vestiaire Collectives’s chief executive, Max Bittner, sits down with BoF’s founder and editor-in-chief Imran Amed, to explain why Kering invested in the company and what that investment means for the company’s future, and why he believes the resale market is an exciting and fast-expanding sector.
”This is not a short term trend,” said Bittner. “This is something consumers are looking for. This is something especially young consumers are expecting from the brands they want to endorse. So, I think both us and the brands are realising consumers expect us.”
Related Articles:
Why Kering Invested in Vestiaire Collective
Should Luxury Build Resale Into Its Business Model?
The Resale Gold Rush Rolls On
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April 6, 2020
In the latest special edition of the BoF Podcast, designer Charles Jeffrey talks to BoF Editor-at-Large Tim Blanks about self-reflection during the coronavirus crisis, and the evolution of his brand, Loverboy.
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March 6, 2020
As wildfires swept across Australia and the coronavirus spread across the globe, Imran Amed and Tim Blanks reflect on how the world’s uncertainties have informed the Autumn/Winter 2020 season.
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September 20, 2019
The acclaimed photographer sat down with Tim Blanks to discuss the ‘infinite objects of beauty’ that inspired his new V&A exhibition.
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May 24, 2019
Speaking in conversation with BoF Editor-at-Large Tim Blanks, Dior's menswear artistic director discusses everything from extra-terrestrial life to ancient Egypt and, of course, his philosophy as a designer.
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