Condé Nast International has continued its spree of investments into online shopping businesses by leading a $20 million (£13 million) fund raising for Vestiaire Collective.
The publisher of Vogue, Glamour and GQ invested at least $10 million into the business with Paris-based Idinvest and previous investors Balderton and Ventech also pitching in.
The French start-up site allows individuals to sell or buy second hand fashion items with its team of in-house experts verifying that products are in decent condition. Half the products it receives are rejected, it says.
Earlier this year Condé Nast invested in luxury independent retailer shopping hub Farfetch.
Vestiaire Collective wanted new funds to help establish a German business and grow its US team which is based in New York. It launched in the UK in March last year and has had a presence in the US since March this year that allows American customers to buy from the site.
According to Techcrunch, it plans to allow US customers to sell their items but each time it does so in a new country a new infrastructure needs to be set up to accommodate its unique buying and selling system.
Sellers send items into the site which are then processed, possibly sent back as substandard quality or sold on to buyers.
It currently has 1.5 million items, an increase from 1 million three months ago, It has previously raised €9 million (£7.6 million) over two rounds.
James Bilefield, president of Condé Nast’s digital division, will join the board of Vestiaire Collective.
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