Kering-backed Vestiaire Collective secures €178 million funding

PARIS – Online consignment store Vestiaire Collective has announced the completion of a €178 million (US$204m) financing round led by luxury fashion conglomerate Kering and US investment firm Tiger Global Management.

Vestiaire has said it will use the finances to scale its technology and data innovation roadmap, which focuses on building the company’s new ‘Brand Approved’ buy-back scheme, empowering its global community of ‘fashion activists’, achieving carbon neutrality by 2026 and becoming a certified B Corp.