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Vestiaire Collective, the global online marketplace for “pre-loved fashion” has announced the acquisition of Tradesy, the US fashion reseller for an undisclosed sum.
Vestiaire Collective and Tradesy were both founded in 2009 by female entrepreneurs committed to “transforming the fashion industry towards a more sustainable future” and the firms said the deal reflects their “shared ambition to further accelerate the growth of the circular fashion economy by delivering a world-class customer experience to buyers and sellers across the globe”.
By joining forces, Vestiaire Collective and Tradesy said they have “significantly increased” the size and reach of their peer-to-peer marketplaces, to the direct benefit of their sellers and buyers.
The combined company will boast a membership community of 23 million, a catalogue of 5 million items and a Gross Merchandise Value exceeding $1bn (£765m).
Vestiaire Collective said as a result sellers will see their product reaching a much broader audience, in the US and globally, therefore optimising the overall sale process. It added buyers will also be presented with an “even broader” selection of pre-loved fashion goods.
In recent years, Vestiaire Collective has grown at an accelerated pace in the US, which has become its largest market. In particular, since the beginning of 2022, Vestiaire Collective has been growing its US GMV at a 75% year on-year rate.
Vestiaire Collective will also open a new authentication centre in the Los Angeles area -its fifth authentication centre globally, and second in the US.
Maximilian Bittner, CEO of Vestiaire Collective, and Fanny Moizant, founder and president of Vestiaire Collective, will continue to serve in those roles for the combined company, and Tracy DiNunzio, founder and CEO of Tradesy, will become CEO of the combined US operations.
Maximilian Bittner, CEO of Vestiaire Collective, said: “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.”
