Kering-backed luxury fashion resale platform Vestiaire Collective is set to launch a community equity raise next month, and says it aims to reach profitability by the end of this year.
The company is raising €1 million (US$1.09 million) from crowdfunding with shares priced at $19.40 each. The campaign, which will launch on February 6 through the UK-based platform Crowdcube, is open to everyone over the age of 18 in Europe and the UK. According to Reuters, the company also aims to go public in 2025.
“Last year, we decided to grant shares of the company to all of our employees,” said Maximilian Bittner, CEO of Vestiaire Collective. “This year, it was the natural next step to open shares to our community allowing them to be part of our journey.
“We aim to continue gaining market share in the global fashion industry and reach profitability towards year-end,” he said.
Vestiaire Collective’s current investors include Conde Nast, Kering, Generation Investment Management and BPIFrance.
The platform has banned more than 60 fast fashion brands on its platform, including Zara, Uniqlo, and H&M, since the end of 2022.
