Vestaire Collective is buying the Virgin-backed luxury fashion marketplace in a bid to increase its presence in a growing US market.

US-based luxury fashion marketplace Tradesy agreed on Tuesday to be acquired by luxury fashion e-commerce platform Vestaire Collective for an undisclosed sum, allowing conglomerate Virgin Group to exit.

Founded in 2009, Tradesy operates an online peer-to-peer platform where users can buy and sell luxury items. The combined company is set to oversee a catalogue of 5 million items with a gross merchandise value of over $1bn and a community of some 23 million members.

Vestaire Collective claims its US gross…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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