Los Angeles-based peer-to-peer resale marketplace Tradesy has been acquired by Vestiaire Collective SA, a global online pre-owned fashion marketplace headquartered in Paris.
Financial terms of the deal were not disclosed.
Tradesy, launched in 2012 by founder and CEO Tracy DiNunzio, secured $67 million in funding in September of last year in a round led by Kleiner Perkins, which also has funded rental and resale platform Rent the Runway. The round brought Tradesy’s total funding to $145 million.
DiNunzio will become CEO of the companies' combined U.S. operations. Maximilian Bittner, CEO of Vestiaire Collective, and Fanny Moizant, founder and president, will continue to serve in those roles for the combined company.
The French company in a statement said the acquisition reflects a “shared ambition to further accelerate the growth of the circular fashion economy.” The company said that its presence in the U.S. market has continued to grow, increasing at a 75% year-over-year rate since the beginning of this year alone.
The company said it plans to open both an authentication center and a technology hub in the Los Angeles area.
Vestiaire Collective said the combined company will have 23 million members, a catalog of five million items and a gross merchandise value exceeding $1 billion.
In 2021, the global market value of second-hand and resale apparel was estimated to be worth $36 billion. It is expected to grow to $77 million by 2025.
In June of last year, Etsy Inc. signed a definitive agreement to acquire London-based Depop, a privately held, community-led fashion marketplace, for $1.625 billion, positioning Etsy as a player in the fast-growing clothing resale space.
