General
Gucci owner Kering invests in resale platform Vestiaire Collective
French luxury group Kering has taken a 5 per cent stake in Vestiaire Collective, a leading platform for second-hand clothes and handbags, betting that the booming resale market will help it woo younger and more environmentally conscious shoppers.
The purchase is part of a 178 million euro (US$215 million) financing round announced on Monday which valued Vestiaire Collective at more than US$1 billion, the companies said.
U.S. investment firm Tiger Global management also invested in the platform, while existing shareholders including Vogue publisher Conde Nast and French private equity firm Eurazeo put more money in.
The pre-owned fashion market has enjoyed rapid growth over the last three years, with a further acceleration…
-
Noosa News24 hours agoBrisbane man, 39, dies after stabbing at inner city home in early morning attack, prompting investigation
-
General24 hours agoTwo British MPs refused entry into Israel, UK foreign ministry says
-
Business8 hours agoBattle of the ASX ETFs: Why has VGS outperformed VTS this year?
-
General18 hours agoTribute unveiled for SA Police Brevet Sergeant Jason Doig after fatal 2023 shooting