Vestiare Collective announces the acquistion of Tradesy
PARIS and LOS ANGELES, March 15, 2022 /PRNewswire/ — Vestiaire Collective SA (“Vestiaire Collective), the leading global online marketplace for desirable pre-loved fashion today announces the acquisition of Tradesy, Inc. (“Tradesy”), the US pioneer in the fashion resale industry. Financial terms of the deal were not disclosed.
Maximilian Bittner, CEO of Vestiaire Collective, commented: “Today’s transaction is a key milestone for the luxury fashion resale industry. 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.”
Fanny Moizant, founder and President of Vestiaire Collective, added: “We have been very impressed with the great achievements of Tracy and the Tradesy team over the years and are very excited by the opportunity to work together to accelerate the change in the way people consume fashion. We are particularly enthusiastic about the scale we are reaching together and the associated benefits in the highly attractive US market.”
Tracy DiNunzio, founder and CEO of Tradesy, said: “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.”
What does this mean for you? I’m taking a wait and see approach but there are a few things they can implement on both platforms to make it more user friendly.
- Build a better user back end, especially for business accounts.
- Add in a SKU field
- Create an export feature for all listings
- Build up your authentication trainings (Vestiaire)
We’ll be keeping an eye on the transition and report back what we see!