Vestiaire Collective raises €58m to pursue U.S., Asia-Pacific expansion

French company Vestiaire Collective announced on Tuesday that they have raised 58 million euros to pursue, principally, its international development in the U.S. and Asia-Pacific regions.

The company said in a statement that with the funds raised, it plans to consolidate its position in Europe, pursue its development in the U.S. and extend its business activities across new markets in the Asia-Pacific region.

Created in 2009 and specializing in the online sale of luxury second-hand fashion apparel and accessories, Vestiaire Collective has forecast the creation of 120 jobs within the company worldwide in the next 18 months.

‘This funding round has been spearheaded by a new investor, Vitruvian Partners, a British fund making its first investment in France,’ the brand stated. ‘Eurazeo and Idinvest Partners, our traditional shareholders, also participated.’

With these new resources, Vestiaire Collective has now raised 116 million euros since its creation.