Paris-based second-hand fashion marketplace, Vestiaire Collective, has initiated a crowdfunding campaign with the goal of raising at least one million euros ($1.09 million) from individual investors. The Kering-backed business aims to achieve profitability by the end of 2024 and is considering the possibility of going public.
Established in 2009, Vestiaire Collective is home to a variety of fashion brands, including Boohoo, Gap, H&M, Shein, Uniqlo, and Zara. The company, in which Gucci owner Kering holds a 5% stake, has set its sights on reaching profitability by the close of 2024. A spokesperson for Vestiaire Collective mentioned that considering an initial public offering (IPO) would be the logical progression once profitability is achieved.
Softbank, an investor since 2021, is also associated with Vestiaire Collective, although the exact size of its stake remains undisclosed. The crowdfunding campaign, facilitated through the UK-based platform Crowdcube, is scheduled to commence on Tuesday, with a subscription phase kicking off on February 6th.
