Vestiaire Collective has acquired US fashion resale competitor Tradesy.
By joining forces, the companies will be able to “significantly” increase their size and reach, “to the direct benefit of their sellers and buyers”, Vestiaire Collective said.
Together, the new company will boast a membership community of 23 million, a catalog of 5 million items and a gross merchandise value (GMV) exceeding $1 billion.
The teams at both brands will progressively merge, with Vestiaire Collective’s chief executive Maximilian Bittner and president and founder Fanny Moizant continuing to serve in those roles for the combined company.
In addition, Tradesy founder Tracy DiNunzio will become chief executive of the combined U.S. operations.
“Today’s transaction is a key milestone for the luxury fashion resale industry,” said Bittner.
“By joining forces with Tracy and her team, we continue to empower our customers to drive change by making second-hand fashion a first choice. With this transaction, we confirm Vestiaire Collective’s ambition to be a truly global player, promoting circularity in Europe, the US and Asia-Pacific.”
DiNunzio added: “Fanny, Max and their great team have done a spectacular job positioning Vestiaire Collective as the leading marketplace in our global industry.
“With today’s transaction, we are positioned to significantly improve the experience of US fashion customers. The Tradesy team and I are thrilled to pursue our shared mission together with the incredibly talented team at Vestiaire Collective.”