Kering Invests in Online Reseller Vestiaire Collective
By Giulia Petroni
French luxury-goods conglomerate Kering has invested in online
reseller Vestiaire Collective in order to embrace new market trends
and sustainable practices.
The Paris-based startup said Monday that it has completed a 178
million-euro ($214.9 million) financing round backed by Kering and
investment firm Tiger Global Management.
As part of the round, Kering has acquired a stake of around 5%
in the reseller.
"Pre-owned luxury is now a real and deeply rooted trend,
especially among younger customers," Kering's Chief Executive
Officer Francois-Henri Pinault said.
Goldman Sachs Group Inc. served as strategic advisor and private
placement agent of Vestiaire Collective for the financing
Write to Giulia Petroni at firstname.lastname@example.org
(END) Dow Jones Newswires
March 01, 2021 12:36 ET (17:36 GMT)
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