Maximilian Bittner, the former CEO of Lazada, now heads the Paris-based Vestiaire Collective, which has a 75-million-euro (US $79.1 million) credit facility from Crédit Agricole CIB, Societe Generale, HSBC, Bank of America, and Goldman Sachs.
Bittner stated in a LinkedIn post that the business is “very optimistic” about the upcoming year. The firm stated last month that it will be expanding into South Korea, and now there is a loan facility.
Vestiaire Collective also just prohibited fast fashion from its site, including pieces from Shein and H&M.
“With second-hand gaining ground every day and everywhere, Vestiaire Collective is better positioned than ever to accelerate the transformation of the fashion industry for a more sustainable future,” Bittner said in his post.
The most recent round of funding for Vestiaire Collective was a US $210 million one that was jointly sponsored by SoftBank Vision Fund 2 and Generation Investment Management. This year, it also purchased Tradesy, a competitor in the secondhand market.
