Secondary Market Investment and M&A Tracker
Secondary market sales of fashion and luxury goods are booming, with the global market for secondhand luxury goods growing by 28 percent in 2022 to reach $45.21 billion, according to Bain & Company, which is 1.3 times higher than the growth rate for new luxury goods. “The secondhand market is already worth 3 percent to 5 percent of the overall apparel, footwear, and accessories sector,” according to Boston Consulting Group, which says that the segment “could grow to as much as 40 percent, depending on macroeconomic conditions.” Such growth is likely to be helped by changing consumer preferences and the macroeconomic climate, with consumers increasingly tapping into the online consignment segment to save money and to shop more “sustainably.”
All the while, new market entrants have rushed to meet burgeoning demand (bringing “an increased supply of goods” with them, per Bain) and existing players are looking to differentiate themselves and their value propositions. Against this background, funding keeps pouring into the secondary market – whether it be funneled into new resale platforms or already-established ones that are looking to expand their operations, including in an international capacity – and all the while, given the increasingly crowded nature of the market, consolidation is starting to come into effect, with existing entities joining forces to grab a bigger share of the market.
With so much activity underway on the resale and rental space, we have compiled a tracker of investments and M&A events to provide a broad overview of which players are fundraising, merging, and what the trajectory of this segment of the market – which only appears to be gaining in steam – looks like more generally …
Mar. 14, 2023 – Responsible Acquires Haru in Circularity Push
Resale platform Responsible has acquired fellow Belfast-based reseller Haru in a deal that Responsible says will enable it to “continue to push the boundaries of circularity in the fashion industry.” Specifically, Responsible – which was founded in 2021 and raised a $6.6 million seed round in Jan. 2022 – says the acquisition will enable it to “strengthen its brand and customer-facing apps with Haruʼs advanced operational, digitization, and pricing algorithms.” Mark Dowds, CEO of Responsible, said in connection with the deal, “By combining our respective technologies and expertise, we further increase the efficiencies and profitability required to grow the adoption of circular business models by brands and drive consumer behavior change at scale.” The terms have not been disclosed.
Mar. 8, 2023 – Saclàb Raises €1.6M in Seed Round
Saclàb has raised €1.6 million ($1.69 million) in a seed round led by Estonia’s Trind Ventures and Germany’s G-Fund. The Munich-based reseller – which focuses on hard-to-get luxury handbags – says it will use the cash to scale its tech infrastructure and increase marketing activities ahead of a U.S. launch. “We are planning our soft launch in the US this year and creating an online storefront. Besides that, we have many UX/UI improvements coming up to make the selling and buying experience even more smooth and fun,” Saclàb co-founder Alexandra Stück said.
Feb. 16, 2023 – Swag Kicks Raises $1.2M Seed Round
Swag Kicks has raised $1.2 million in a seed round led by i2i Ventures, with participation from Techstars Toronto, CrossFund Hong Kong, Rose Lake Ventures, Elevation Ventures, and STAK group. The Pakistan-based sneaker and fashion resale platform – which says that it has listed over 25,000 items on its platform, including shoes, apparel, and bags, and has served over 100,000 customers to date – will use the new cash to “build up inventories and stocks, expand market outreach and introduce innovative technology to manage growing demand.” It is also planning to expand abroad, tapping into the global direct-to-consumer and B2B thrift and vintage circular fashion business.
Jan. 23, 2023 – Cudoni Raises $9.3M in New Round
Cudoni has raised 7.5 million pounds ($9.3 million) from eBay’s venture arm and existing investors, such as Daily Mail Group Venture, in its latest round. The London-based resale platform “provides a luxury resale service in which it picks up items from sellers’ homes, evaluates and lists the items and sells them on commission,” per PYMNTS, with the firm handling “apparel, jewelry, watches and other items from 4,000 designer brands.” This round follows from a 4.6 million pound 2020 Series A for Cudoni in 2020, which was led by Daily Mail Group, with participation from retail advisor Andrew Jennings, as well as Hunt Investment Group and Concurrence Capital. The cash from its previous round was slated to be used to fund international growth for the now-6-year-old reseller.
Jan. 18, 2023 – Wallapop Raises €81 million in Extended Series G
Barcelona-based resale platform has raised €81 million ($87.4 million) in an extended Series G round (it raised a $191 million in a Series G in February 2021), bringing its total funding over 8 rounds to €239.6 million. According to TechCrunch, 9-year-old Wallapop will use the new cash to invest into its operations in Spain, Italy, and Portugal “after seeing its 2.4 million downloads in the first half of the year in Italy (a newer market for the app) and a 600 percent increase in cross-border activity between Spain and Italy in that period.” The company is also planning to bulk up its use of data science and other areas of R&D to boost discovery, personalization and other tools to connect buyers with items they want.”
Jan. 17, 2023 – The Edit LDN Raises $2.8 Million in Seed Round
The Edit LDN has raised $4.8 million in a seed round led by egah Ventures, with participation from sports celebrities including New York Giants Captain Xavier McKinney, NBA athlete PJ Tucker and Premier League soccer player Jesse Lingard. The company will use the new cash to help it scale in its sneaker and streetwear marketplace in the U.S. and MENA (Middle East North Africa) regions. “We have been laser focused on providing a premium service and doing this super-fast to anyone buying limited edition sneakers globally,” said Moses Rashid, CEO at The Edit LDN in a statement. “Having built relationships with brands, celebrities and consigners, we can secure the most sought-after products by clients. Our robust authentication process and detailed supply chains have helped to grow trust and love for the brand — we will double down on our tech stack to ensure we are ahead of the curve to source, offer and send the latest sneakers to anyone, anywhere in the world quickly.”
Dec. 13, 2022 – Beni Raises $4M for Resale Browser Tech
Beni announced the close of its seed round of $4 million, led by Buoyant Ventures, bringing its funding from both its pre-seed and seed rounds to over $5 million to date. The Santa Barbara-based company says that it “welcomes shoppers to the world of re-commerce by making it easier to find and buy secondhand apparel and accessories. When a shopper finds something they want, the browser extension suggests similar listings from leading resale sites.” The company – which has partnered with over 30 resale sites, such as The RealReal, Rent the Runway, Vestiaire Collective, eBay, and Kidizen – stated in a release that “with Poshmark’s recent acquisition by Naver and ThredUp’s projected revenue exceeding $82B by 2026, shoppers are clearly invested in supporting the circular fashion economy. Beni was designed with this in mind, enabling shoppers to save money and shop sustainably with the click of a button.”
Nov. 25, 2022 – Advanced Clothing Solutions Closes $12.1M Resale-Focused Investment
Advanced Clothing Solutions closed a $12.1 million investment from Circularity Capital to further develop its rental, subscription, and resale operations. The company, which bills itself as the UK’s leading circular and sustainable fashion enabler, works with brands and retailers to provide them with “a complete rental, subscription, and resale service with storage for more than three million items of clothing.”
“I am delighted to partner with Circularity Capital, this strategic partnership recognizes our objective of creating one of Europe’s largest circular fashion solutions providers specializing in clothing rental, subscription and resale,” ACS chief executive Andrew Rough said. Meanwhile, Andrew Shannon, founding partner at Circularity Capital, asserted, “ACS provides the capabilities and processes to enable retailers to scale their rental, subscription and resale ambitions with ease, transforming the industry from a traditional take-make-dispose model to one of reuse and resale.”
Nov. 10, 2022 – Yaga Raises €2.2 Million in Bid to Become the “Depop of Africa”
Yaga, an Estonian-founded e-commerce startup, has raised €2.2 million in a round led by Startup Wise Guys, with participation from Trind Ventures, Specialist VC, and Rubylight. Founded in 2019, Yaga enables customers in growing markets in Asia and Africa to buy and sell pre-owned fashion. Yaga founder and CEO Aune Aunapuu says the company will use the new cash to “continue its rapid growth over the next year,” specifically aiming “to develop the company’s platform, grow its team, and attract new customers.”
Nov. 7, 2022 – Pre-Owned Luxury Rental Co. Vivrelle Closes $35M Series B
Pre-owned luxury rental membership company Vivrelle closed a $35 million Series B financing round led by 3L Capita, with participation from Origin Ventures, Chapford Capital Group, Plus Capital, actresses Lily Collins and Nina Dobrev, and reality star/influencer Morgan Stewart McGraw. The funding, which follows from 4-year-old Vivrelle’s $26 million Series A in April 22021, will be used to “promote accelerated growth across all verticals of the brand’s business.” New York-based Vivrelle’s co-founder and CEO Blake Geffen said, “We look forward to expanding Vivrelle on many fronts, including our inventory offerings, opening additional showroom spaces, and growing our hard working team.”
Nov. 4, 2022 – Treet Raises $3.5M in Seed Round
Treet, which works with brands ranging from ultra-fast fashion giant Shein to cult-favorite brand Dôen, raised $3.5 million in a seed round led by First Round Capital. The San Francisco-based resale platform says it will use the new funds to “increase recruitment, accelerate brand partnerships and expand services.” The round brings the total funds raised in pre-seed and seed funding rounds to $6.4 million.
Nov. 1, 2022 – Luxury Platform Plum Raises $100M in Series C
Pre-owned luxury fashion platform Plum announced on November 1 that it raised $100 million in a Series C round led by Tencent-based pre-owned marketplace Zhuanzhuan. Beijing-based Plum’s co-founder and CEO Xu Wei said in a statement that the funds will be used to upgrade Plum’s services, user experience, product R&D, and database construction. The round comes amid striking growth for Plum, which surpassed rival luxury e-commerce platform Secoo in terms of site traffic in Q4 2021, and doubled revenues in 2022 compared to the year prior.
Oct. 13, 2022 – Goat Group to Acquire Grailed
Goat Group Inc. will acquire Grailed in furtherance of an effort to grow its footprint in the secondary apparel market. As Bloomberg reported on October 13, “Grailed, a peer-to-peer fashion site, will continue to operate under its own brand and will integrate Goat’s operations infrastructure, including shipping and payments” as part of the deal, the terms of which were not disclosed. “We’ve been continuing to see growth across our businesses, especially in apparel and accessories, which have doubled the past 12 months,” Eddy Lu, co-founder and chief executive officer of Goat Group, told Bloomberg. “When you’re looking to accelerate growth even further, that’s when consolidation makes sense.” Goat Group currently owns GOAT, the global platform for new and used sneakers, apparel and accessories, as well as rare sneaker-reseller Flight Club and resale sneaker and apparel brand Alias.
Oct. 3, 2022 – Naver Corp. to Acquire Poshmark in $1.2 Billion Deal
Naver Corp will acquire resale platform Poshmark for $1.2 billion in a deal that Naver says values Poshmark at about $1.6 billion, including about $580 million of cash reserves. The Seongnam-based internet conglomerate, which owns South Korean’s top search engine, will pay $17.90 in cash for all of Poshmark’s issued and outstanding shares, a sum that is strikingly less than the $42 per share that Redwood City, California-headquartered Poshmark priced its January 2021 IPO. Naver says that it expects the deal – which will “expand and diversify [its] leading e-commerce platform, strengthen its community with a global social network of younger users, and position it to capitalize on the global online fashion re-commerce and sustainable economy opportunity” – to close by Q1 of 2023. In a statement, Naver CEO Choi Soo-Yeon said, “The combination will create the strongest platform for powering communities and re-fashioning commerce. Poshmark is the definitive brand for fashion in the United States that provides a social network for buying and selling apparel. Naver’s leading technology in search, AI recommendation and e-commerce tools will help power the next phase of Poshmark’s global growth.”
Sept. 20, 2022 – Impossible Kicks Raises $3 Million in Series A
Sneaker and streetwear reseller Impossible Kicks (“IK”) announced the close of a $3 million Series-A equity raise on September 20, bringing its total funding raised to $7 million since its founding in February 2021. In a statement, IK expects $55 million-plus in sales in 2022, up from $15 million in sales in 2021. The Irvine, California-based company will use the cash to facilitate its “continued expansion plan across the United States, which includes two new locations prior to the end of the year and nine additional storefronts in 2023.” (As of Sept. 2022, the brand supports 15 storefronts across nine states – including California, Colorado, Connecticut, Florida, Michigan, New Jersey, New York, North Carolina, and Texas.) “With an unrivaled brick and mortar presence,” IK says it “will also augment its e-commerce and digital efforts, including the development of proprietary products.”
Aug. 25, 2022 – Sneaker Trading Co. Tradeblock Raises $8.9 Million in Seed II Round
Houston-based Tradeblock has raised more than $8.9 million in seed funding from investors Courtside VC, Trinity Ventures and Concrete Rose Capital, the company announced August 25. The company is planning a rolling close to its current Seed II round and expects to bring in an additional $4.5 million from investors by close. Launched in 2020, Tradeblock consists of a barter-based trading platform for shoe collectors. With the new funding, the company plans to invest in expanding its authentication and logistics efforts, as well as its data science capabilities to better enhance the platform’s virtual bartering experience.
Aug. 24, 2022 – Reflaunt Raises $11 Million in Series A
Reflaunt closed its Series A round with a total of $11 million in funding, the the London and Singapore-based resale-as-a-service company announced on August 24. The close comes a couple of weeks after the circular fashion service provider first revealed that it had welcomed $5.2 million in funding from the likes of Bombyx Capital Partners, Shanghai-based Ventech China, and TLF Ventures. Global Blue, a Swiss-based tourism shopping tax refund company, also participated in the Series A round, along with early investors, including Swarovski’s creative director Giovanna Battaglia and American retail conglomerate Madaluxe Group. Reflaunt says it will use the new cash to expand its services and secure new partnerships with luxury brands and retailers. “We have integrated the resale experience in the brand’s ecosystem, which allows us to record the product’s digital ID at the moment of check-out and foster a seamless resell-in-a-click experience when the customer is ready to give the product a second life,” Reflaunt co-foudner and CEO Stephanie Crespin said in a statement.
Aug. 22, 2022 – Trenbe Raises $25.2 Million in Series D
South Korea-based luxury goods marketplace Trenbe announced on August 22 that it raised 35 billion won ($25.2 million) in a Series D funding round, which included investors, such as IMM Investment and Atinum Investment. Gangnam-headquartered Trenbe says that it will use the funds to “diversify its business and improve customer experience.” The round follows from the company’s July 2020 Series B, in which it raised 11 billion won.
Jul. 15, 2022 – Resale Platform Galaxy Raises $7 Million in Funding
Gen-Z-focused pre-owned fashion platform Galaxy has raised $7 million in new funding from investors that include Snap Inc’s Yellow Accelerator, Floodgate, RGH Capital, Turner Novack’s Banana Capital, and Homebrew. Launched in August 2021, the company combines live-shopping and fashion resale in order to “build entertaining and engaging experiences that generate explicit data” – via machine learning – “where users tell us what they like by interacting with our product,” CEO Danny Quick stated in announcing the round. The company says that it will use the newly-raised cash to implement “new, user-friendly features and increased opportunities for creators to feel empowered and earn a living on their own terms, in their own time.”
May 9, 2022 – Carousell to Buy Up Refash
Singapore-based online classifieds giant Carousell has signed off on a deal to acquire secondhand retailer Refash for an undisclosed sum, as the resale market continues to grow in Asia. Carousell said in a statement that 7-year-old Refash, which touts itself as an “online thrift store,” will continue to operate its own brand, as distinct from the Carousell entity, and that the acquisition is expected to “drive a synergistic partnership between the two marketplaces.”
Apr. 8, 2022 – Sneaker Marketplace SoldOut Raises $33 Million
Korean sneaker marketplace SoldOut raised $33 million in a funding round led led by Korea online retail titan Musina and FinTech Dunamu. The nearly 2-year-old resale company will use the funds to fuel its expand into new product categories and build out its customer experience, including by upgrading its platform and opening a second inspection center in Seoul.
Mar. 15, 2022 – Vestiaire Acquires Tradesy
French resale company Vestiaire Collective announced its acquisition of Tradesy, “a U.S. pioneer in the fashion resale industry,” on Tuesday. Terms of the deal were not disclosed, but the companies said in a statement that by joining forces, they will “significantly increase the size and reach of their peer-to-peer marketplaces, to the direct benefit of their sellers and buyers. The combined company will boast a membership community of 23 million, a catalog of 5 million items and a Gross Merchandise Value exceeding $1 billion. Customers of both Vestiaire Collective and Tradesy will significantly benefit from the companies’ alliance.”
*As of August 2022, Vestaire announced that it would fold Tradesy into its own brand in furtherance of a larger effort to bolster its presence in the U.S. market.
Dec. 15, 2021 – Rebag Raises $35 Million in Series E
Rebag has raised $35 million in funding a Series E round, bringing the 6-year-old resale company’s total funding to $103 million. “Following a strong year driven by technological advances and category expansion,” Rebag says that the round – which was led by private equity firm Novator with participation from existing investors, such as General Catalyst – “positions [it] for its next cycle of innovation and accelerated growth,” and that the investment funds will be used to further build upon Comprehensive Luxury Appraisal Index for Resale, its proprietary software aimed at bringing transparency to the luxury resale industry. The company says it will also use the round to scale its tech-enabled brick-and-mortar business.
Dec. 9, 2021 – Farfetch Acquires LUXCLUSIF
Fashion e-commerce platform Farfetch announced on December 9 that it has acquired resale platform LUXCLUSIF, including the company’s technology platform, for an undisclosed sum. This deal will allow FARFETCH to “significantly accelerate its resale capabilities through the development of key technology and service features such as automated pricing, and faster geographic and category expansion of its resale service, FARFETCH Second Life,” the London-based company stated. Founded in 2013, LUXCLUSIF is a B2B service provider with “a successful turnkey solution enabling the acquisition, authentication and sale of second hand luxury goods to – and from – auctions, retailers, e-commerce platforms, and stores worldwide,” the companies said in a statement. “Together, FARFETCH and LUXCLUSIF can leverage these capabilities and positioning to become the global platform for pre-owned luxury for both customers and industry partners.”
Updated (Mar. 8, 2023): In the Annual and Transition Report that it filed with the U.S. Securities and Exchange Commission, Farfetch revealed the terms of the acquisition, “Purchase consideration of $26.8 million was comprised of $7.8 million of cash, $5.9 million of deferred cash or share consideration and $13.1 million of deferred share consideration based on the Farfetch Limited share price as at the acquisition date. The share consideration includes a service condition for certain members of the Luxclusif management team and has been accounted for as post combination remuneration. This did not form part of the purchase price allocation and is expensed.”
Nov. 29, 2021 – eBay Acquires Sneaker Con’s Authentication Arm
eBay announced on November 29 that it has entered into a definitive agreement with Sneaker Con Digital under which it has acquired Sneaker Con’s authentication business, a leading sneaker authenticator with operations in the U.S., U.K, Canada, Australia and Germany. According to a statement from eBay, “The acquisition is an extension of the ongoing collaboration between [itself] and Sneaker Con, which has been critical to powering eBay’s Authenticity Guarantee. The service, which eBay launched in October 2020, offers full vetting and verification of select sneakers bought on the marketplace by a team of Sneaker Con’s industry experts.” Additionally, the marketplace stated that its “Authenticity Guarantee has significantly changed the way people buy and sell sneakers on [its site], as evidenced by quarter over quarter category growth. In just over a year, more than 1.55 million sneakers have been authenticated globally on eBay.”
Nov. 19, 2021 – Marque Luxury Raises $20 Million
Marque Luxury has secured $20 million in funding through an investment by Provident Capital Partners, the Irvine, California-based reseller announced on November 19, saying that the round “follows a period of tremendous growth for MARQUE Luxury, which has opened numerous re-commerce hubs in the United States and several hubs in Asia during the last year and has aggressive plans for future expansion.” The 4-year old company says it will use the new cash to “drive continued business expansion on an operational scale focused mainly in North America,” to “support its omnichannel strategy and allows [it] to generate business activity in the global market on a business-to-business and business-to-business-to-consumer basis.”
Nov. 17, 2021 – StockX Acquires Scout
In its first acquisition, StockX has bought up Scout, a leading developer of power seller tools that is already serving more than 10,000 sneaker resellers around the world. StockX says that the new technology will enable it to “ramp up inventory” – which is, of course, the lifeblood of resale platforms and the primary driver of consumer demand – thanks to Scout’s “best-in-class automation, inventory management, tracking and integration with marketplaces.” At the same time, StockX states that the move will help its marketplace sellers to “accelerate their businesses,” presumably a bid to attract sellers in an increasingly competitive resale market, where no shortage of other resale players have taken to focusing on pre-owned sneakers and streetwear. In addition to onboarding Scout’s product, StockX confirmed that it will bring on the company’s team three co-founders and seven employees, who “bring their deep experience as sneaker resellers and developers of inventory,” as aims to scale seller business operations.
Detroit-based StockX, which revealed that it surpassed 6.5 million lifetime buyers and 1 million lifetime sellers in the first half of 2021, has been building out its initially sneaker-focused offerings since its founding in 2016 and expanding internationally. In the wake of its latest funding round, a Series E-1 round that closed in April 2021, the company boasts a valuation of $3.8 billion valuation.
Oct. 13, 2021 – Poshmark Acquires Suede One
In its first-ever buy-side move, Poshmark announced on October 13 that it has acquired Suede One, an authentication platform that “combines machine learning, computer vision and expert human review to virtually authenticate sneakers,” with Suede One’s team joining Poshmark effective immediately. According to Poshmark, the acquisition “will scale [its] authentication capabilities and accelerate momentum in high-growth secondhand categories, especially sneakers and luxury,” and reflects the secondhand marketplace’s focus on “strategic investments that drive continued platform innovation, accelerate growth in high-growth resale categories and enhance the user experience to attract and retain both buyers and sellers.”
Founded in 2020, Suede One “has built impressive capabilities in virtual authentication that will allow us to deliver tangible benefits to our community, scale our authentication services in a meaningful way, and accelerate our momentum in sneakers as well as luxury goods, two of the fastest-growing categories in the resale space,” according to Poshmark founder and CEO Manish Chandra. In a release on Wednesday, Poshmark detailed Suede One’s process, revealing that “for popular sneakers such as Jordan 1s and Yeezy 350s, Suede One can automatically authenticate the majority of submissions with greater than 99 percent accuracy, based on internal testing. For other sneaker types, human experts review the submission with help from the company’s proprietary authenticator tool.”
Sept. 22, 2021 – Vestiaire Raises $209 Million in Venture Round
French resale company Vestiaire has raised 178 million euros ($209 million) in a September 22 venture round which included participation from two new investors, SoftBank Group Corp and Generation Investment Management, bringing its valuation to $1.7 billion dollars. To date, Vestiaire has raised $663.3 million, per CrunchBase.
Sept. 16, 2021 – Tradesy Raises $67 Million in Series D Round
Resale platform Tradesy has raised $67 million in a September 16 Series D round led by led by Foris Ventures, which is Kleiner Perkins head John Doerr’s family office. To date, the company has raised $200.7 million over a series of eight rounds, according to CrunchBase.
Sept. 16, 2021 – Grailed Closes $60 Million Series B Round
Men’s fashion and streetwear-centric marketplace Grailed announced the closing of a $60 million Series B funding round on September 16, which was led by fellow resale player GOAT Group and with participation from Groupe Artémis, along with existing investors Thrive Capital and Index Ventures.
Aug. 25, 2021 – Trove Raises $77.5 Million in Series D
Trove Recommerce, which partners with brands to create online platforms for them to sell used goods, raised $77.5 million in an August 25 Series D round, led by G2 Venture Partners.
Jun. 24, 2021 – GOAT Raises $195 Million in Series F Funding Round
Online sneaker and apparel marketplace GOAT Group has raised $195 million in a new funding round, which has “more than doubled its valuation to $3.7 billion.” The round for the 6-year-old Los Angeles-based company, which boasts some 30 million customers across 170 countries, was led by Park West Asset Management, funds and accounts advised by T. Rowe Price Associates, Inc., Franklin Templeton, Adage Capital Management and Ulysses Management.
Jun. 2, 2021 – Etsy Acquires Depop for $1.62 Billion
In a quest to target Gen-Z consumers (i.e., those born between the late 1990s and the early 2010s), who are driving both social shopping and largescale pushes in sustainability, Etsy announced that it will acquire burgeoning British shopping app Depop for $1.62 billion.
May 26, 2021 – Treet Raises $2.8 Million in Seed Round
Reseller Treet – which powers brands to set up their own resale sites where buyers and sellers can list and find items – raised $2.8 million in a May 26 seed round with participation from Bling Capital, Matchstick Ventures, Techstars, BAM Ventures, BBG Ventures, Green Meadow, Interlace Ventures, V1.VC and Alante Capital.
May 12, 2021 – Vinted Raises $303 Million in Series F Round
Vinted raised 250 million euros ($303 million) in a May 12 Series F round, the Vilnius, Lithuania-founded online resale platform announced. According to a release from Vinted, which got its start in 2008 and boasts some 45 million users, the company “operates in over 10 markets, and has become the largest online C2C marketplace in second-hand fashion across Europe,” and will use the funding from the latest EQT Growth-led round – one that values the resale upstart at $4.3 billion – to expand its operations in Europe and “new geographies,” ramp up its hiring, and improve user experience.
Apr. 8, 2021 – StockX Raises $195 Million in Secondary Market Round
StockX announced the conclusion of a $195 million secondary tender offering on April 8, as well as an additional $60 million in Series E-1 primary shares, boosting the streetwear and sneaker platform’s December 2020 valuation of $2.8 billion by 35 percent, and bringing its total funding to $690 million.
Mar. 1, 2021 – Vestiaire Raises $216 Million in Series H
Kering and American investment firm Tiger Global Management led a March 1 Series H funding round that saw secondhand marketplace Vestiaire Collective bring in $216 million in funding, along with existing investors, including its CEO Max Bittner, Vogue’s parent company Condé Nast, and the Eurazeo Group, among others. The deal gives Paris-based Vestiaire “unicorn status” – i.e., puts a $1 billion-plus value on the privately-held company – and “ideally positions it for its next cycle of accelerated growth.”
Feb. 26, 2021 – Reflaunt Raises $2.7 Million in Pre-Series A
Second-hand fashion platform Reflaunt raised $2.7 million dollars in a pre-Series A funding round from investors including former Jimmy Choo CEO Pierre Denis and Ganni founder and former CEO Nicolaj Reffstrup, among others, with an aim to “offer a variety of resale models to more leading global brands” and to allow consumers to resell pre-owned products “directly on the brands’ individual e-commerce platforms.”
Jan. 19, 2021 – GOAT Welcomes “Strategic Investment” from Groupe Artemis
GOAT Group announced on January 19 that it would welcome a “strategic investment” from Groupe Artemis – the controlling shareholder of Kering – as it “continues its expansion in fashion apparel and new categories.” The undisclosed Artemis investment comes on the heels of a Series E round of $100 million announced in September 2020, which valued the company at $1.75 billion.