Publishing giant Condé Nast, already a supporter of fashion startups like Rent the Runway and Farfetch, is upping its investment in e-commerce. On Monday, the company said it had led a $20 million investment in Vestiaire Collective, a Paris-based site that lets people buy and sell pre-owned luxury fashion items. The Series C round, which brings the startup’s total amount raised to more than $30 million, also included Idinvest Partners and existing investors Balderton and Ventech.
For Vestiaire Collective, which launched in 2009 and says it has 1.5 million members, the Condé Nast-led investment will enable more international growth and help build credibility, the startup said. For the publishing company, which is behind big media brands like Vogue, Vanity Fair and GQ, the investment marks a further expansion of its e-commerce strategy.
As we’ve noted before, more publishers are marrying content and commerce in an effort to add revenue streams. In addition to newer online companies like Gawker and Thrillist, traditional publishers like The New York Times and Bonnier have made steps toward embracing e-commerce in various ways.
The Vestiaire Collective deal was the first of its kind by Condé Nast International in France, the company said. But it comes on the heels of other investments by the publisher (and its parent company Advance Publications) in sites like online jewelry retailer ReneSim, design site Monoqi and Rent the Runway.