Paris -based FaveA second -hand platform for fashion and luxurious brands, has announced a new € million dollar fund to accelerate its expansion in Europe, especially in Italian and British markets, where they have just begun partnership with Victoria Beckham.
This round was led by Amundi Private Equity Transition Just, including Daffney and BPI France, existing through its Digital Venture Fund.
“The second -hand market is emerging, but funding does not automatically guarantee success. In the fume, we have shown every day that the source of elasticity for second -hand fashion brands, a combination of sustainability and profitability for all stakeholders. Our solution, already adopted by more than 45 prestigious brands, proves that creating a second-hand model is not just potential and virtue, the performance-bar too,“Said IcumicCEO of Fume.
In July 2020, Aerric Dutchin, Nicholas Vient, Joslin Carborus’, and Lucas Patrickot’s co-founded, Fume fashion brands enables fashion brands to develop a new earning flow and customer
When the base is protected of their full-value business and reduces the cost of acquisition of acquisition by solving its white-lace second hand.
Their platform currently operates all the technical and logistical constraints for second -hand operations across Europe (Isabel Marant, Soiur, BA and SH, Victoria Beckham, Amy Paris, Iigal and Balzak Paris), including 45 brands).
Fume has already supported the expansion of several French brands by combining their growth priority in Germany, the Netherlands, Belgium, Spain and Italy. Since its inception, the company has helped sell more than 300,000 second hand fashion items by selling more than 40% outside France.
In 2021, it helped to avoid Error of more than 4,200 tons of CO2 by renovating clothing, and according to the statistics given to EU-Startps by reducing the high carbon-intensive textile sector.
With the new € million dollars fund, the goal of Fume is to strengthen its commercial and technical teams. The company has planned to support 150 brands in the next four years and aims to launch its ‘dynamic price’ artificial intelligence solution in 2025, the brands are able to provide more competitive prices than the Traditional Marketplace.
Fraza daySister’s General Manager, Comments: “We have advised a sustainable outlook in fashion with a long -standing offering offering. The Sour Second Hands made with the fume team presents an original milestone of our growth. We are very satisfied at the launch and delighted to provide a premium in-stor tech-back service for our customers. 14 Available in European countries today, this initiative notifications and underscore the promise of sustained fashion to sustainable fashionThe “
According to a threadup study in collaboration with global information, second -hand clothing sale is increasing 20 times faster than new clothing, already accounting as 20% of online fashion purchase in 2024. The Global Second Hand Clothing Market is expected to reach $ 307 billion by 2028, the annual rate of 12% has increased.
Fume believes that premium brands are deeply interested in the tendency of this circular economy and aims to grow without mixing the image of their brand or losing their distribution control.
Luxery and premium brands, owned by Fume, enables luxury and premium brands to provide second hand sales directly under their own label, enable the customer experience as refined as purchasing new items:
- The experience of a pause, premium customer is combined with luxury brand values.
- Complete control over brand figure, price determination and product distribution.
- A durable and profitable solution has been integrated with the brand ecosystem seamlessly.
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