PARIS — Leboncoin Groupe, a company that runs a popular classified advertising web site in France, is buying second-hand fashion site Videdressing, marking consolidation of the country’s market for dealing in pre-owned fashion online.
Galeries Lafayette last week said it was closing Instantluxe.com, the luxury goods resale site it bought two years ago in a bid to tap into demand for second-hand goods. The site, which employs 10 people, sold certified pre-owned luxury products, specializing in leather goods, jewelry, watches and accessories.
L’Habibliothèque, a French start-up in the business of renting fashion apparel, also closed this month, after four years in operation.
Videdressing, which handles 25,000 transactions a month, has extensive experience in payment and delivery, noted Leboncoin in a statement announcing the purchase.
“It will allow us to bring together our respective forces, their technical expertise with our strength as a generalist site,” said Antoine Jouteau, chief executive officer of Leboncoin.
“The shared ambition of our platforms is to make transactions between individuals easier,” noted Videdressing’s president Jérémy Delorme.
Videdressing was founded in 2009 and generated 35 million euros in sales last year.
The acquisition comes as rival Vestiaire Collective gears up for international expansion, particularly in Asia. Vestiaire Collective, which does not release financial information, was set to bring in revenues of 108 million euros last year, the company had said last fall.
Earlier this month, the site announced it has recruited Maximilian Bittner to become chief executive office in January, replacing one of its founders, Sébastien Fabre. In the statement announcing the new recruitment, Fabre, who will stay on as a company director involved in defining the company’s strategy, noted Bittner’s experience in Asia.
Bittner, a co-founder of Lazada Group, an e-commerce player in Southeast Asia, cited plans to tap into growth opportunities in Asia and the U.S. for the pre-owned fashion market.