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- Press release BoxID 582298
Earlybird invests in Videdressing.com
(PresseBox) (Berlin, Paris, )
Earlybird Venture Capital today announced the closing of a $6 million Series A funding in Videdressing.com, the first social marketplace dedicated to fashion. Earlybird, DN Capital, and Piton Capital co-led the round and were joined by Generis Capital. This round of financing will allow Videdressing to further accelerate its growth and increase its market share in France, reinforce its organization and develop the business internationally, beginning with the launch of an English version of the cult French fashion site.
Launched in December 2009 by American and French co-founders, Meryl Job and Renaud Guillerm, Videdressing.com combines the best aspects of an online marketplace with a highly merchandised, fashion savvy retail environment to offer customers a shopping experience with unparalleled range, curation and value for money. Meryl Job's love of fashion and luxury brought her from New York to Paris where she worked as a product manager at Chanel before starting Videdressing. It was while trying to sell some of her own clothing and fashion accessories and finding no suitable sites on which to do so that she realized there was a clear need for a specialized site that could appeal to fashion lovers and where they would feel comfortable selling and purchasing pre-loved treasures.Over the last three years, the fashion peer-to-peer marketplace has experienced very strong organic growth in its home market of France with transaction volumes increasing fivefold during 2012. The catalogue counts nearly 400,000 items from over 1,700 of the most luxurious and trendiest brands and is growing at a rate of over 2,500 products per day. Women's fashion represents the vast majority of the business but the site also offers men's and children's fashion. New or never worn products represent nearly 25% of the product offer.
Some of the key factors that set Videdressing apart from other marketplaces are:
- Extensive fashion expertise and qualitative editorial content,
- A vast catalogue full of covetable items from top French & International luxury and high-end brands,
- A strict anti-counterfeit policy and client protection
- A focus on delivering an unparalleled level of customer service including guaranteed free returns
"We feel honored by the trust placed in Videdressing.com by the new investors who recognized how our business is changing the way people shop for - and resell - fashion. The new funding will enable us to continue to invest in strengthening and expanding our business so we can help more customers in France and beyond to find more covetable products at highly attractive prices. This latest round of financing marks the opening of a new chapter of our adventure for which we are very excited," says Meryl Job, co-founder and CEO of the company.
"Videdressing has experienced impressive growth even before this financing round proving both the quality and the potential of the concept. As an investor we are excited to accompany Videdressing's expansion in the future," says Hendrik Brandis, Partner of Earlybird.
About Videdressing
Videdressing is a social marketplace where a community of fashion lovers use the site to buy and sell their previously owned clothing and fashion accessories. Videdressing operates as a trusted third-party between buyers and sellers, securing all steps of the transactional process from payment to receipt of the merchandise in order to ensure complete customer satisfaction, prevent fraud and fight against the sale of counterfeit items.
Launched in December 2009 by American and French co-founders, Meryl Job and Renaud Guillerm, Videdressing.com combines the best aspects of an online marketplace with a highly merchandised, fashion savvy retail environment to offer customers a shopping experience with unparalleled range, curation and value for money. Meryl Job's love of fashion and luxury brought her from New York to Paris where she worked as a product manager at Chanel before starting Videdressing. It was while trying to sell some of her own clothing and fashion accessories and finding no suitable sites on which to do so that she realized there was a clear need for a specialized site that could appeal to fashion lovers and where they would feel comfortable selling and purchasing pre-loved treasures.Over the last three years, the fashion peer-to-peer marketplace has experienced very strong organic growth in its home market of France with transaction volumes increasing fivefold during 2012. The catalogue counts nearly 400,000 items from over 1,700 of the most luxurious and trendiest brands and is growing at a rate of over 2,500 products per day. Women's fashion represents the vast majority of the business but the site also offers men's and children's fashion. New or never worn products represent nearly 25% of the product offer.
Some of the key factors that set Videdressing apart from other marketplaces are:
- Extensive fashion expertise and qualitative editorial content,
- A vast catalogue full of covetable items from top French & International luxury and high-end brands,
- A strict anti-counterfeit policy and client protection
- A focus on delivering an unparalleled level of customer service including guaranteed free returns
"We feel honored by the trust placed in Videdressing.com by the new investors who recognized how our business is changing the way people shop for - and resell - fashion. The new funding will enable us to continue to invest in strengthening and expanding our business so we can help more customers in France and beyond to find more covetable products at highly attractive prices. This latest round of financing marks the opening of a new chapter of our adventure for which we are very excited," says Meryl Job, co-founder and CEO of the company.
"Videdressing has experienced impressive growth even before this financing round proving both the quality and the potential of the concept. As an investor we are excited to accompany Videdressing's expansion in the future," says Hendrik Brandis, Partner of Earlybird.
About Videdressing
Videdressing is a social marketplace where a community of fashion lovers use the site to buy and sell their previously owned clothing and fashion accessories. Videdressing operates as a trusted third-party between buyers and sellers, securing all steps of the transactional process from payment to receipt of the merchandise in order to ensure complete customer satisfaction, prevent fraud and fight against the sale of counterfeit items.
About Earlybird Venture Capital GmbH & Co. KG
Established in 1997 Earlybird currently manages over $700 million in assets and is a leading European venture capital firm active in technology venture investing. Since its inception, Earlybird has invested in many companies which have sparked some of the most significant innovations in business and technology and resulted in large scale ($1bn+) IPOs and trade sales. Earlybird's active portfolio currently includes more than 20 companies in the consumer internet and enterprise services space such as B2X Care Solutions, Carpooling.com, Madvertise, Nfon, Peak Games, 6Wunderkinder, Smava, Socialbakers, Traxpay and Ubitricity.
Further information is available at www.earlybird.com, follow us on Twitter: www.twitter.com/earlybirdvc, or LinkedIn www.linkedin.com/... or become a friend on Facebook: www.facebook.com/EarlybirdVC.
Earlybird's investor base includes some of the most renowned institutional investors worldwide. The capital committed by the EIF to the Earlybird 2012 Fund comes from the European Recovery Program (ERP) - EIF Facility; and the LfA-Gesellschaft für Vermögensverwaltung mbH (LfA) - EIF Facility.
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