Re-sale fashion retailer, Vestiaire Collective, has acquired Tradesy for an undisclosed amount. Both businesses were founded in 2009 and provide pre-loved fashion for people worldwide. This acquisition aims to accelerate a more sustainable future in the industry.
This acquisition aims to accelerate the growth of circular fashion and deliver a ‘world-class’ CX for buyers and merchants globally.
Vestiaire Collective is a French-founded resale platform, founded in 2009 by Fanny Moizant. The business has reported 75 percent growth for its US GMV YoY and plans to open an authentication centre in Los Angeles as the US becomes its largest market demographic. This is the fifth authentication centre to be opened by the company, and the second in the US.
“Today’s transaction is a key milestone for the luxury fashion resale industry. By joining forces with Tracy and her team, we continue to empower our customers to drive change by making second-hand fashion a first choice. With this transaction, we confirm Vestiaire Collective’s ambition to be a truly global player, promoting circularity in Europe, the US and Asia-Pacific,” said Maximilian Bittner, the CEO of Vestiaire Collective.
The business, which is B Corp certified, currently has more than three million items in its inventory, and, as of 2020, has more than nine million members on the platform.
Tradesy is the largest re-commerce platform in the US | via Tradesy
Just like Vestiaire Collective, Tradesy is a peer-to-peer resale platform. As the largest e-commerce platform in the US, it boasts a similar number of users on its platform – currently a total of seven million. In 2020, it recorded a 12 percent increase in listings, with an AOV of $550.
Together, the two businesses will boast a GMV of more than $1 billion. According to the release, the users of both platforms will benefit from this acquisition. “Sellers will see their product reaching a much broader audience, in the US and globally, therefore optimising the overall sale process,” the business said. “Buyers will be presented with an even broader selection of highly desirable pre-loved fashion goods, therefore enhancing their purchase experience.”
Both Bittner and Moizant will remain in their current roles as the acquisition is completed. The CEO of now-acquired Tradesy, Tracy DiNunzio, will be named the CEO of the combined US operations. “Fanny, Max and their great team have done a spectacular job positioning Vestiaire Collective as the leading marketplace in our global industry. With today’s transaction, we are positioned to significantly improve the experience of US fashion customers. The Tradesy team and I are thrilled to pursue our shared mission together with the incredibly talented team at Vestiaire Collective,” said DiNunzio of the acquisition.
The re-commerce industry has exploded of late, with Australian retailers such as David Jones and THE ICONIC embracing its uptake in popularity and launching platforms of their own. In 2020, the US-based peer-to-peer online platform, Poshmark, also launched in Australia.
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