Without question luxury goods can sell online and authentic resales may even become collectibles. As the surge in online sites specializing in luxury goods attract more investors, their niche will be what will determine the success for sustainability. Investors in this sector are likely attracted to the ability to connect luxury consumers and luxury brands through advertising promotions. A growing interest for luxury marketing is the use of influential websites, portals, and mobile platforms.
Photo credit Vestiaire Collective
Liam Boogar explores how investors are linking into fast pace luxury goods and resale websites. He reveals that Vestiaire Collective, a luxury resale site has a new monster round of funding of $20 Million from none other than Condé Nast, which owns notable fashion media properties like Vogue, GQ, Glamour & more. According to Boogar this is just days after fellow French startup and competitor Videdressing.com announced a smaller investment (~$1-$2M) from Oliver Samwer’s Global Founders Capital, meaning that things will certainly be heating up in the fashion eCommerce space. Traditional print media players like Condé Nast are seeing advertising revenues for print shrinking every month, despite their engaged and qualified audience, and are looking for other ways to monetize.
Vestiaire Collective was launched in 2009 by a team of 6 founders (including Sebastien Fabre, CEO) who recognised the need for an online platform that allowed people to buy and sell luxury pre-owned fashion. Vestiaire Collective creates a unique environment where all items are authenticated and checked before reaching the seller, thereby eradicating the risks of purchasing counterfeits, mis-selling or mis-pricing items.