Vestiaire Collective, a global online marketplace for pre-loved fashion, has expanded its reach into the US with the acquisition of Tradesy, a US pioneer in the fashion resale industry.
Vestiaire Collective and Tradesy were both founded in 2009 by women entrepreneurs committed to transforming the fashion industry towards a more sustainable future. Today’s announcement reflects their shared ambition to further accelerate the growth of the circular fashion economy by delivering a world-class customer experience to buyers and sellers across the globe.
By joining forces, Vestiaire Collective and Tradesy 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 catalogue of 5 million items and a Gross Merchandise Value (GMV) exceeding $1bn. Customers of both Vestiaire Collective and Tradesy will significantly benefit from the companies’ alliance.
Sellers will see their product reaching a much broader audience, in the US and globally, therefore optimizing the overall sale process. Buyers will be presented with an even broader selection of highly desirable pre-loved fashion goods, therefore enhancing their purchase experience.
In recent years, Vestiaire Collective has grown at an accelerated pace in the US, which has become its largest market. In particular, since the beginning of 2022, Vestiaire Collective has been growing its US GMV at a 75% year-on-year rate. To best serve its expanded customer base and continue to position trust at the core of its business model, Vestiaire Collective will open a new authentication centre in the Los Angeles area – its fifth authentication centre globally, and second in the US. With such strategic scale and operational setup, the combined company will be very well-positioned to grow its share of environmentally friendly local-to-local transactions in the US.
Maximilian Bittner, CEO of Vestiaire Collective, and Fanny Moizant, founder and President of Vestiaire Collective, will continue to serve in those roles for the combined company, and Tracy DiNunzio, founder and CEO of Tradesy, will become CEO of the combined US operations. The teams of Vestiaire Collective and Tradesy will progressively merge to allow sharing of best practices and support accelerated growth in the US market.
Vestiaire Collective will notably benefit from Tradesy’s unique understanding of US customers while Tradesy will fully leverage Vestiaire Collective’s industry leading authentication expertise and global supply capabilities. Consistent with Vestiaire Collective’s global approach to technology, a technology hub will be formed in Los Angeles, providing invaluable expertise benefitting the combined business on an ongoing basis.