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The momentum and technology expertise will help Trove enable its brand partners to tap the “full potential and profitability of the resale channel,” according to Ferris. I’m honored to join the board of a company whose business model and mission align so closely with my own values and the goals I’ve supported throughout my career.” “That makes it crucial for brands to take control of their own resale and take-back channels and maintain their direct relationships with their customers. “ Re-commerce is growing faster than traditional retail because consumers are increasingly aware of the need for all of us to prioritize sustainability and extend the life span of products we buy,” said Bransten. With decades of experience eyeing growth and digital transformation within retail, Bransten sees sustainability and re-commerce as “crucial” to brands’ growth strategies and long-term success. fashion customers.”Īdditionally, Shelley Bransten, who is corporate vice president of global retail and consumer industries at Microsoft, has joined Trove’s board. “With today’s transaction, we are positioned to significantly improve the experience of U.S. “Fanny, Max and their great team have done a spectacular job positioning Vestiaire Collective as the leading marketplace in our global industry,” DiNunzio said in a statement. operations, while joining its global executive committee, according to a spokesperson for Vestiaire Collective. Tradesy’s founder Tracy DiNunzio will stay on to lead Vestiaire Collective’s combined U.S. John Doerr, a Tradesy board member and shareholder, will become a minority shareholder in Vestiaire Collective. With this transaction, we confirm Vestiaire Collective’s ambition to be a truly global player, promoting circularity in Europe, the U.S. “By joining forces with Tracy and her team, we continue to empower our customers to drive change by making secondhand fashion a first choice. “Today’s transaction is a key milestone for the luxury fashion resale industry,” Bittner said. Maximilian Bittner, chief executive officer of Vestiaire Collective, and Fanny Moizant, the company’s founder and president, will continue to serve in those roles. For Vestiaire Collective, this means authentication and global supply chain expertise, and in the case of Tradesy - U.S. And company executives will stay the course and build upon each company’s respective strengths. Vestiaire Collective believes the transaction showcases a “strategic dynamic” and the importance of playing globally and locally. Like Japanese resale marketplace Mercari, Tradesy boasts the value of low overhead with virtual authentication technology. The company climbed the ranks in private resale funding, trailing Vestiaire Collective, Vinted and StockX, among others. In September 2021, Tradesy earmarked another $67 million in funding (bringing its total funding at the time to $145 million), and it hired former Ebay and SoftBank executives. Pusha T, Futura, and More Attend the KENZO By Nigo Launch Party