French luxury resale site Vestiaire Collective’s onward march is continuing with news that it has raised a further €178m in new finance, six months after a previous funding round. The firm is now valued at $1.7bn.
The pandemic has forced luxury goods companies to use social media, video and virtual showrooms to woo their wealthy customers in Europe when tourists, especially from China, have been absent for more than a year.
As Fenwick prepares to reopen, its CEO has predicted “ a good opening, but a slow recovery as well”. Yet overall, he’s confident it's on the right track and can do well in the changed retail world of the future.
Jean-Marc Bellaiche took charge of French retail group Le Printemps in September 2020. In this interview, he explains how he is dealing with store closures and the Covid-19 crisis, while working to transform the group.
The second hand luxury market is gaining momentum. Our LuxurynsightXFashionNetwork podcast guest Maximilian Bittner, CEO of Vestiaire Collective since last year, shares his perspective on the sector’s potential.