Miguel Cordon · · 1 min readLazada founder Max Bittner co-leads $45m round for online retailer Vestiaire Collective
Vestiaire Collective, a global ecommerce platform for pre-owned luxury fashion items, raised around US$45 million in a funding round led by its CEO and Lazada founder Max Bittner and French investment bank Bpifrance.
Vestiaire Collective CEO and Lazada founder Max Bittner / Photo credit: Vestiaire Collective
The company said the new funds will help facilitate the launch of its new technology solutions, underpin its international growth efforts, and sustain its growth momentum in Asia, where it claims to see a 140% growth in gross merchandise value in Q2 2019.
According to the French company, 79% of the transactions it generated were cross-border. It recently launched in new markets such as Taiwan, Thailand, Indonesia, India, Malaysia, the UAE, Saudi Arabia, Israel, Brazil, and Mexico.
Vestiaire Collective will also use the funds to expand its global recruitment drive. It claims to have recruited 120 new talents from over 20 nationalities since Bittner took the company’s helm.
Before joining Vestiaire Collective, Bittner stepped down as CEO of Lazada early last year and took on the role of an Alibaba senior advisor after the Chinese ecommerce giant acquired the company.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
