Dechert Advises Vestiaire Collective on Funding Round

Dechert LLP advised Paris-based online fashion retailer and premium second-hand marketplace Vestiaire Collective on its €40 million round of financing led by French national investment bank Bpifrance and Lazada founder Max Bittner as new CEO of Vestiaire Collective.

The new round is designed to facilitate the launch of new technology solutions for the fashion ecosystem, empower its community through the lens of its platform and fuel continued international growth, and beyond. The investment will sustain Asian growth momentum as well as the recent launch in numerous new markets including Taiwan, Thailand, Indonesia, India, Malaysia, UAE, Saudi Arabia, Israel, Brazil and Mexico. 

Existing shareholders Eurazeo Growth, Vitruvian Partners, Idinvest Partners and Balderton Capital also reinvested in the round. Vestiaire Collective’s current investors include Condé Nast International and Ventech.

Max Bittner is the founder and former CEO of Southeast Asia’s largest e-commerce platform Lazada Group. He founded Lazada in 2012, which was then acquired by Alibaba in 2017 at a valuation of US$3.15 billion – an internationally decorated transaction on which a cross-border Dechert team, led by Munich partner Federico G. Pappalardo, advised Lazada. Read also Alibaba Group Invests More Than US$1 Billion to Increase its Stake in Lazada Group, Dechert Advises Lazada on Redmart Acquisition in Singapore and Dechert Represents eCommerce Platform Lazada on Sale to Alibaba.

The Dechert team advising Vestiaire Collective as co-counsel with Gide on its funding round was headed by Federico G. Pappalardo and included Munich National Partner Carina Klaes-Staudt.

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Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.