- Vivrelle — a first-of-its-kind membership club that provides access to a shared closet of designer handbags, jewelry, and diamonds — announced recently that it closed a $26 million Series A financing round. These are the details.
Vivrelle — a first-of-its-kind membership club that provides access to a shared closet of designer handbags, jewelry, and diamonds — announced recently that it closed a $26 million Series A financing round led by Origin Ventures with participation from Chapford Capital Group.
The company had built a community around sustainable, flexible, and affordable luxury accessories. And rethinking how people utilize their closets and value experiences over ownership, the membership club allows consumers to experience items for as long as they would like or swap them out monthly.
Vivrelle is also elevating the try-before-you-buy model by offering members-only discounts to purchase items from Vivrelle’s closet. And encompassing the true meaning of a membership club, Vivrelle offers exclusive club perks, further transforming the way consumers experience luxury in everyday life.
Since being founded, Vivrelle has been at the forefront of the sharing and resale economies that are shaping the future of luxury fashion and retail. And Vivrelle experienced triple-digit growth in 2020 and with the current financing, the company is poised for rapid expansion on all fronts, including admitting thousands of additional members off of its growing waitlist.
The Series A funding round will enable the company to support membership growth, expand its product offering to meet increased membership demand, amplify marketing initiatives and partnerships, and scale its services, operations, and internal teams.
KEY QUOTES:
“We are thrilled to close our Series A funding with the support and confidence of Origin Ventures and Chapford Capital Group. This round of financing will allow Vivrelle to scale its one-of-a-kind platform and continue offering individualized and unparalleled customer service to our community of members. It’s an exciting opportunity to advance the growth of circular fashion and be at the forefront of reimagining consumers’ shopping experience.”
— Blake Geffen, Co-founder and CEO of Vivrelle
“Vivrelle is uniquely positioned at the intersection of the exploding resale and shared economies. Its understanding of Digital Natives – Millennials and Gen Z consumers who spend differently than previous generations – has enabled it to build an incredible business that provides on-demand access to luxury brands at the speed of fast-fashion without compromising on environmental impact and quality. Origin Ventures is proud to partner with Vivrelle’s world-class team and co-investor, Chapford Capital Group.”
— Origin Ventures Managing Partner Jason Heltzer
