The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Vinted, an online venue for people to buy and sell second-hand clothes, said on Wednesday it had raised €250 million ($303 million) from investors and would invest proceeds in expanding its operations in Europe and beyond.
The Lithuanian startup is one of a crop of firms promoting the so-called “circular” economy, addressing concerns that buying new clothes online leads to waste in the form of packaging or outfits that are quickly discarded.
Vinted, which counts more than 45 million members globally, said the fund raising put a pre-money valuation on the business of €3.5 billion.
The Series F round was led by EQT Growth, with participation from Vinted’s previous lead investors: Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners and Sprints Capital, Vinted said in a statement.
By Douglas Busvine; editor: Steve Orlofsky.
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.