The retailer is starting to offer a handbag resale service for its top clients.
The resale market is on a fast upward trajectory following Depop’s $1.6 billion sale to Etsy and a flurry of M&A deals in the sector this year.
The new funding round, led by EQT Growth, has given the company a pre-money valuation of 3.5 billion euros.
The secondhand luxury platform has launched a campaign to fund textile recycling in Ghana.
The retailer will begin accepting used apparel for trade-in credit in May as the fashion industry at large continues to embrace secondhand.
Kering and Tiger Global and others have invested $216 million in the luxury resale platform.
Korelya, Vaultier7, Fidelity International funds and Cuir Invest have backed the resale platform, despite coronavirus jitters.
According to the Institut Français de la Mode, 40 percent of French consumers bought at least one secondhand item in 2019.
Launched last year, Abiby is on the radar of local beauty customers and companies such as Vestiaire Collective, Colmar and Cosmoprof.
It’s not just ecological considerations potentially driving the growth — shoppers are also on the hunt for bargains.
The luxury resale web site debuted a pop-up of vintage evening gowns, some dating back to the Sixties, at the Tearose boutique in Milan.
Blanchet used to head up Vestiaire Collective’s vintage business.