Dechert Advises Vestiaire Collective on Its €178 Million Financing Round Backed by Kering and Tiger Global Management
March 02, 2021
Dechert advised Vestiaire Collective, the leading global platform for desirable second-hand fashion, in connection with its new €178 million financing round, backed by global French luxury group Kering (KER.PA) and US investment firm Tiger Global Management. Following a strong year that saw the platform’s transaction volume grow over 100% year-on-year, this financing round confirms Vestiaire Collective as a unicorn and ideally positions it for its next cycle of accelerated growth.
Existing shareholders including Vestiaire Collective’s CEO, Max Bittner, Bpifrance (Large Venture), Condé Nast, the Eurazeo Group (Eurazeo Growth and Idinvest Venture) (RF.PA), certain funds managed by Fidelity International, Korelya Capital (backed by NAVER) (KRX: 035420), Luxury Tech Fund (LTF & Cuir Invest) and Vitruvian Partners also reinvest.
The Dechert team advising Vestiaire Collective was led by Munich/Frankfurt partner Federico G. Pappalardo and Paris partner Anne-Charlotte Rivière, and also included Paris national partner Xavier Leroux, and Paris associates Aude Steinberg and Yan Boistay, as well as Munich associates Christian Böhme and Julia Keller.
Dechert previously advised Vestiaire Collective in 2020 its €59 million round of financing that was secured amidst unprecedented market conditions and reported as highest capital innovation raise in France during the first French lockdown according to CFNews, and in 2019 in a €40 million round of financing led by French national investment bank Bpifrance and Max Bittner as the new CEO of Vestiaire Collective. Max Bittner is the former CEO and founder of Lazada Group which Dechert advised inter alia on its acquisition by Alibaba for several billion US$.
About Dechert
Dechert is a leading global law firm with 26 offices around the world. We advise asset managers, financial institutions, investment funds, and equity shareholders on transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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