Pre-owned luxury fashion platform Vestiaire Collective has acquired its US-based competitor Tradesy for an undisclosed sum as part of its ambition to increase its influence in the luxury resale industry.
By acquiring Tradesy, Vestiaire Collective will have a membership community of 23 million people, a catalogue of 5 million items, with a Gross Merchandise Value (GMV) exceeding US$1 billion.
Tracy DiNunzio, founder and CEO of Tradesy, will become CEO of the combined US operations, while 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. Vestiaire Collective will open its second US authentication centre in Los Angeles, its fifth centre globally.
“Today’s transaction is a key milestone for the luxury fashion resale industry,” said Bittner. “By joining forces with Tracy and her team, we continue to empower our customers to drive change by making second-hand fashion the first choice.”
Both Vestiaire Collective and Tradesy were founded in 2009 with a commitment to further turning the fashion industry more sustainable. While Tradesy’s focus is on the US market, Asia Pacific is Vestiaire Collective’s fastest-growing market with Singapore contributing 15 per cent to the Apac sales as of last September.
In the US, Vestiaire Collective’s largest market, the brand has recorded GMV growth of 75 per cent year on year since the beginning of this year.
“Fanny, Max and their great team have done a spectacular job positioning Vestiaire Collective as the leading marketplace in our global industry,” said DiNunzio. “With today’s transaction, we are positioned to significantly improve the experience of US fashion customers.”