Technology

Kering Invests in Secondhand Luxury Site Amid Sustainability Push

TechnologyMar 04, 2021

Kering Invests in Secondhand Luxury Site Amid Sustainability Push

Vestiaire Collective sells pre-owned luxury goods from brands like Tiffany, Cartier, Rolex, and TAG Heuer.

20210304_Kering_header.jpg
Kering invested millions in pre-owned luxury site Vestiaire Collective, which sells authenticated designer clothing and accessories. (Image courtesy of Anete Lusina from Pexels)

Paris—Kering has made a multimillion-dollar investment in secondhand luxury site Vestiaire Collective as the conglomerate continues to emphasize sustainability in fashion.

The company behind brands like Gucci and Alexander McQueen teamed up with Tiger Global Management to provide $216 million in funding to the platform.

Founded in 2009, the pre-owned luxury platform allows users to buy and sell items on the site following an authentication process.

It stocks a variety of high-end brands, like Chanel and Prada, offering designer clothes and shoes as well as jewelry and watches.

Shoppers can find secondhand Tiffany & Co. and Cartier jewels as well as pre-owned Rolex and TAG Heuer watches.

By offering pre-owned items, Vestiaire Collective said it can extend the lifespan of pieces and help negate the environmental impact of overconsumption.

The company said its transaction volume more than doubled, while membership grew 90 percent year-over-year in 2020.

This investment will better position the site for future growth, Vestiaire Collective said, helping it to scale up its technology and data capabilities.

The platform will more than double the size of its technology team, creating 155 new positions, as it focuses on using artificial intelligence and leveraging data to improve the customer experience.

Following the investment, Kering holds about a 5 percent stake in the company and will be represented on Vestiaire Collective’s board of directors.

The pre-owned fashion sector has seen strong growth over the last three years, said Kering, and that has only accelerated during the pandemic.

Younger shoppers are driving the trend as their calls for sustainability grow louder.

RELATED CONTENT: In an Age of Purposeful Purchasing, Secondhand Diamonds Surge Ahead

“The resale sector as a whole is experiencing rapid growth, especially amongst millennial and Gen Z consumers, which will come to shape the retail landscape of the future,” said Maximilian Bittner, CEO of Vestiaire Collective, in a press release about the investment.

The number of secondhand pieces in people’s closets is predicted to grow from 21 percent in 2021 to 27 percent in 2023, said Kering.

The value of the secondhand sector could be worth more than $60 billion by 2025.

“Pre-owned luxury is now a real and deeply rooted trend, especially among younger customers,” said Kering CEO François-Henri Pinault in a statement.

“Rather than ignoring it, our wish is to seize this opportunity to enhance the value we offer our customers and influence the future of our industry towards more innovative and more sustainable practices.”

Kering recently placed seventh in the Corporate

Knights’ 2021 Global 100 Index, a benchmark for corporate sustainability, which measures factors like resource management and supplier performance.

The company ranked first in the clothing and accessory retail category for the fourth year in a row.
Lenore Fedowis the senior editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Counterfeit Van Cleef & Arpels Alhambra jewelry
CrimeApr 28, 2025
Customs Seizes Nearly 2,000 Pieces of Counterfeit Van Cleef & Arpels Jewelry

U.S. customs agents in El Paso, Texas, intercepted the package, which would have been worth $9 million if the jewelry was genuine.

Suzanne Kalan Tech Ring Jacket Collection
TrendsApr 28, 2025
Suzanne Kalan Launches Tech Ring Jacket Collection

Health monitors become statement pieces when paired with the brand’s new collection of stackable diamond-studded bands.

JCK Industry Fund
Events & AwardsApr 28, 2025
JCK Industry Fund Announces 2025 Grant Recipients

Ten organizations were selected this year.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest Addition

Supplier Spotlight Sponsored by GIA

Kim Carpenter and Sam Gevisenheit
IndependentsApr 28, 2025
John Atencio Appoints 2 to Wholesale Team

Kim Carpenter and Sam Gevisenheit have joined the brand.

Weekly QuizApr 24, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Sylvie Jewelry Auranova Collection Campaign Imagery
CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection

“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.

Pomellato Nudo toi et moi ring
FinancialsApr 25, 2025
Kering’s Jewelry Brands Persevere as Q1 Sales Sink 14%

Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.

ejap cohort 1872x1052.png
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs

Six new retail businesses were selected for the 2025 program, which began in January.

Deborah Meyers Experience The Birds Earrings
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ Earrings

Designer Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.

Melee diamonds from De Beers
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid Uncertainty

The company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.

LIM-401 2024 National Jeweler Supplier Bulletin- iD100 Web and Eblast FINAL (1).jpg
Supplier BulletinApr 24, 2025
Protect Your Customers and Your Business

Sponsored by the Gemological Institute of America

Wolf CEO Simon Wolf
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. Expansion

Simon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.

Iowa jeweler Herman Ginsberg
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99

A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.

Charles & Colvard moissanite ring
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to Noncompliance

The company failed to file its quarterly reports in a timely manner.

Young Diamantaires
SourcingApr 24, 2025
Young Diamantaires Transition to Nonprofit

The organization also announced its board of directors.

Mined + Found "Hope" Matchbox Locket
TrendsApr 24, 2025
Amanda’s Style File: So Charming

Charms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.

Bulgari’s expanded factory in Valenza, Italy
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in Italy

Located in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.

Jason McNary accepting FGI Fine Jewelry Rising Star award for Paola Sasplugas
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ Award

Paola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.

1999 Cosmograph Daytona, Ref.16516
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to Auction

A platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.

Carmelo Anthony and Jaylen Brown David Yurman campaign
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen Brown

The basketball stars wear men’s jewelry from the “Curb Chain” collection.

Woman wearing Zales jewelry
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine Jewelry

The Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.

JAR Apricot Blossom bracelet
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry Collection

The 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.

National Jeweler columnist Lilian Raji
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of Mouth

Lilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.

Avi Levy
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth Officer

GCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.

Scottsdale Fine Jewelers store exterior
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow Independent

The Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.

Cartier Exhibition Installation at Victoria & Albert Museum
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display

“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.

Bill and Birdie Levine of Van Cott Jewelers
IndependentsApr 21, 2025
New York Jeweler to Close After 111 Years

Van Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy