Vivrelle, the first-of-its-kind membership club from New York, which offers access to a shared closet of designer handbags and accessories, has announced the close of $35 million in a Series B financing round. This round comes after almost a year and a half of closing the Series A investment.
Investment from celebrities
The investment round was led by 3L Capita, with participation from Origin Ventures, Chapford Capital Group , Plus Capital, celebrities, Emily in Paris star Lily Collins and Nina Dobrev, and personality and entrepreneur Morgan Stewart McGraw.
The Series B investment will be used to promote accelerated growth across all verticals of the brand’s business. It has come at a time when Vivrelle continues its journey at the forefront of innovation in the luxury borrowing space.
“This recent round of fundraising marks a milestone for Vivrelle we only dreamt about when launching in 2018,” said Blake Geffen, co-founder and CEO, 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.”
“Vivrelle has already emerged as a cornerstone of the resale and shared accessories marketplace, and is positioned to continue to expand upon this success through the strength of the brand’s incredible business model,” said Jodi Kessler, Partner, 3L Capital. “The fact that Vivrelle has been EBITDA profitable since inception while demonstrating best-in-class growth and member retention, makes us excited to partner with the Company as they reinvent the luxury retail experience, which we believe is a hybrid of retail, resale and subscription.”
Lily Collins, actor and investor, said, “I’m 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.”
“I’ve always had a deep love and admiration for fashion and style,” said Nina Dobrev, actor and investor. “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.”
Morgan Stewart McGraw, personality and entrepreneur said, “I am so excited to support and invest in Vivrelle, the ultimate luxury accessories closet. I’ve admired this company for years and am so thrilled to partner with them.”
Founded by newlyweds!
Founded in September 2018 by newlyweds Blake and Wayne Geffen, Vivrelle is a membership club that provides access to a shared closet of coveted designer handbags, jewellery, and diamonds for a monthly membership fee. The company provides members with the ability to borrow items with no return date.
It intends to make access to luxury accessories fun, flexible, affordable, and sustainable. Vivrelle provides members with the ability to borrow items with no return date. In a fresh take on the try-before-you-buy model, Vivrelle members are also able to purchase items they love from its closet at exclusive members-only discounted prices.
It also offers exclusive club perks, transforming the way consumers experience luxury in everyday life.