Dechert Advises Vestiaire Collective on its €59 Million Financing Round
April 22, 2020
Dechert advised Vestiaire Collective, a leading global platform for desirable pre-owned fashion, in connection with its new €59 million round of financing. The financing was secured amidst current unprecedented market conditions.
Existing shareholders, Eurazeo (Eurazeo Growth & Idinvest Venture funds), Bpifrance, Vitruvian Partners, Condé Nast, Luxury Tech Fund and Vestiaire Collective’s CEO, Max Bittner reinvested alongside new international investors: Korelya Capital (which is backed by Korean technology conglomerate Naver), funds managed by Fidelity International, Vaultier7 (a specialist female-led consumer fund), and Cuir Invest (which is backed by the French leather industry).
The new round is designed to accelerate the growth of Vestiaire Collective’s international business to countries beyond its already well-established community, particularly Japan and Korea, as well as to expand the launch of its Direct Shipping service in the U.S., allowing the company to continue transforming the throw-away fashion system with a responsible alternative.
The Dechert team advising Vestiaire Collective was led by Munich/Frankfurt partner Federico G. Pappalardo and also included Paris partner Anne-Charlotte Rivière, and Paris associates Xavier Leroux and Aude Steinberg, as well as Munich national partner Carina Klaes-Staudt.
Dechert advised Vestiaire Collective in 2019 on a €40 million round of financing led by French national investment bank Bpifrance and Lazada founder Max Bittner as the new CEO of Vestiaire Collective. In 2017, Dechert advised Lazada Group, which was founded by Max Bittner, on its acquisition by Alibaba, at a valuation of US$3.15 billion, an internationally acclaimed transaction.
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