Since raising its Series A funding in April 2021, Vivrelle’s membership club has seen its revenue increase by 600 percent and has caught the eye of more than one notable investor.
The membership, which offers access to a variety of designer handbags and accessories to members with tiers starting at “premier” for $39 a month, “classique” at $99 a month, “couture” at $199 a month and “couture+” at $279 a month, also includes access to Vivrelle’s luxury “Borrowing” showroom and social club in Midtown, which opened in June 2022.
With the goal of accelerating growth across all aspects of its business, the company held a Series B financing round led by 3L Capital, with participation from Origin Ventures. The round successfully raised $35 Million with participation from actress Lily Collins, actress and cofounder of Fresh Vine Wine, Nina Dobrev as well as entrepreneur Morgan Steward McGraw.
“This recent round of fundraising marks a milestone for Vivrelle we only dreamt about when launching in 2018,” says Blake Geffen, cofounder and chief executive officer of Vivrelle. “We are ecstatic to have support from Lily Collins, Nina Dobrev and Morgan Stewart McGraw, alongside the capital partners who share in our vision of transforming how consumers utilize their closets and experience luxury. We look forward to expanding Vivrelle on many fronts, including our inventory offerings, opening additional showroom spaces, and growing our hard-working team.”
Of her investment in Vivrelle, Collins said she is “thrilled to support and invest in this female-founded company. I’ve always been a supporter of sustainable fashion and I love that Vivrelle offers accessible designer brands that feel tailored to the consumer’s individual style and needs.”
Additionally, Dobrev said she has always “had a deep love and admiration for fashion and style. As a proponent of female-founded entrepreneurial ventures, I feel honored to support Vivrelle — a company that speaks to everything I love about fashion. I believe no one should be excluded from experiencing the luxury of designer accessories, and I’m proud to be a part of expanding Vivrelle’s ability to reach even more people.”
Looking ahead, the company said it aims to continue revolutionizing the way consumers view their closets and “build on the changing landscape of the shared closet and luxury resale experience that drives forward its status as a vanguard in advancing accessibility and circularity.”