Vivrelle announces $35 million investment from Lily Collins, Nina Dobrev
Vivrelle, a membership club that offers access to a shared closet of designer handbags and accessories, announced on Tuesday the closing of a $35 million Series B funding round.
The funding round was led by 3L Capital, with participation from Origin Ventures, Chapford Capital Group, Plus Capital, actresses, Lily Collins and Nina Dobrev, and personality and entrepreneur Morgan Stewart McGraw.
Vivrelle said it plans to use the funding to accelerate growth across all verticals of the brand's business. In April 2021, it closed a series A round allowing the company's revenue to see six-fold growth, and to continue to see profitable triple digit expansion.
"This recent round of fundraising marks a milestone for Vivrelle we only dreamt about when launching in 2018," said Blake Geffen, co-founder and CEO, Vivrelle.
"We are ecstatic to have support from Lily Collins, Nina Dobrev and Morgan Stewart McGraw, alongside the capital partners who share in our vision of transforming how consumers utilize their closets and experience luxury. We look forward to expanding Vivrelle on many fronts, including our inventory offerings, opening additional showroom spaces, and growing our hard working team.”
Lily Collins, actor and investor, said, "I'm thrilled to support and invest in this female-founded company. I've always been a supporter of sustainable fashion and I love that Vivrelle offers accessible designer brands that feel tailored to the consumer's individual style and needs.”
Likewise Dobrev said she has "always had a deep love and admiration for fashion and style. As a proponent of female-founded entrepreneurial ventures, I feel honored to support Vivrelle - a company that speaks to everything I love about fashion. I believe no one should be excluded from experiencing the luxury of designer accessories, and I'm proud to be a part of expanding Vivrelle's ability to reach even more people.”
Vivrelle launched with the aim to make luxury accessories fun, flexible, affordable, and sustainable. Looking ahead, the company said it will continue to build on the changing landscape of the shared closet and luxury resale experience and to advance accessibility and circularity.
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