Willkie’s Paris office advises Vaultier7 in its equity stake in Vestiaire Collective.
On April, 21, Vestiaire Collective, the global community for luxury and premium pre-owned fashion, announced the completion of a €59 million round and brings on board the addition of three new shareholders, Willkie client Vaultier7, Korelya Capital and Fidelity, alongside existing investors such as Eurazeo, Bpifrance, Vitruvian Partners, Conde Nast, Idinvest and Luxury Tech Fund. CEO Maximilian Bittner, also reinvested in this new round.
This new round, which will finance the expansion of the global business in the United States and Asia, represents the largest fundraising completed since the beginning of the lockdown in France in response to the COVID-19 coronavirus crisis.
Vestiaire Collective is a leading global platform for desirable pre-owned fashion. Curated by a trusted community of fashion lovers, members inspire one another while selling and buying unique pieces from each other's wardrobes. Encouraging consumers to join the circular economy as a sustainable alternative to throw-away fashion, the platform is unique due to its highly engaged community, its rare desirable inventory and its authenticity and quality control process. Launched in Paris in October 2009, Vestiairecollective.com has over nine million members across 90 countries worldwide with offices in Paris, London, New York, Milan, Berlin and Hong Kong.
Founded by experienced dealmakers Montse Suarez and Anna Sweeting, and backed by elite investors, Vaultier7 is the UK's first specialist investment fund dedicated to partnering high growth category creators and disrupters in the converging sectors of Beauty & Personal Care, Health & Wellness and Lifestyle.
The Willkie deal team was led by partner Eduardo Fernandez and included Special European Counsel Gil Kiener, associate Justine Ricaud (corporate); and Special European Counsel Philippe Grudé and associate Lucille Villié (tax).