Australian users of luxury resale platform Vestiaire Collective (VC) are set to benefit from the platform's recent acquisition of fellow resale platform Tradesy.
The US-based Tradesy was acquired by VC this week for an undisclosed amount, accelerating VC's growth in the US.
In recent years, VC has grown at a rapid rate in the US, which has become its largest market.
In fact, since the beginning of 2022, VC has been growing its US gross merchandise value (GMV) at a rate of 75% year-on-year.
The acquisition of Tradesy sees VC's membership grow to 23 million global members, the catalogue of products increase to 5 million items and the GMV exceed $1 billion.
When it comes to how the move will impact Australian users, VC APAC chief revenue officer Baptiste Le Gal told Ragtrader that buyers and sellers will have access to a wider range of products.
"Australian buyers will be presented with an even broader selection of highly desirable pre-loved fashion goods, therefore enhancing their purchase experience.
"Australian sellers will see their product reaching a much broader audience, in the US and globally, therefore optimising the overall sale process.
"In particular, Australian buyers and sellers will benefit from the companies' alliance as we see the two markets share a similar taste in brands - Gucci, Louis Vuitton and Prada are amongst the top three best-selling brands in both markets on the VC platform," he said.
The leadership of the combined company will remain mostly the same, with VC CEO Maximilian Bittner (pictured) and VC founder and president Fanny Moizant continuing in their respective roles.
In addition, Tradesy founder and CEO Tracy DiNunzio will become CEO of the combined US operations.
Meanwhile, the wider teams at both businesses will progressively merge to allow sharing of best practices and support the business' expansion in the US market.
To further accelerate its growth in the market, VC will open a new authentication centre in the Los Angeles area - its fifth authentication centre globally, and second in the US - as well as a new technology hub, also in LA.
VC CEO Max Bittner said the deal represents a big moment for the business, as well as the wider industry and the move to circularity.
"The transaction is a key milestone for the luxury fashion resale industry.
"By joining forces with Tracy and her team, we continue to empower our customers to drive change by making second-hand fashion a first choice.
"With this transaction, we confirm VC’s ambition to be a truly global player, promoting circularity in Europe, the US and Asia-Pacific," he said.