By Giulia Petroni 

French luxury-goods conglomerate Kering has invested in online reseller Vestiaire Collective in order to embrace new market trends and sustainable practices.

The Paris-based startup said Monday that it has completed a 178 million-euro ($214.9 million) financing round backed by Kering and investment firm Tiger Global Management.

As part of the round, Kering has acquired a stake of around 5% in the reseller.

"Pre-owned luxury is now a real and deeply rooted trend, especially among younger customers," Kering's Chief Executive Officer Francois-Henri Pinault said.

Goldman Sachs Group Inc. served as strategic advisor and private placement agent of Vestiaire Collective for the financing round.


Write to Giulia Petroni at


(END) Dow Jones Newswires

March 01, 2021 12:36 ET (17:36 GMT)

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