Vivrelle Series B funding round key points:
- The $35 million in Series B funding brings the company’s total funding to $60 million in less than two years.
- The round was led by 3L Capital with participation from Origin Ventures, Chapford Capital Group, Plus Capital, and celebrity investors Lily Collins, Nina Dobrev, and Morgan Stewart.
- Since its Series A in April 2021, the startup has increased revenue by 600% and continues to see profitable triple-digit expansion.
There are plenty of people who have an interest in luxury goods but find them unaffordable. Enter Vivrelle, the startup featuring a unique membership club that gives its members access to designer handbags and accessories. They can keep the products for as long as they want, swapping them out or buying them as they please. Now, the startup aims to promote accelerated growth across all aspects of its business, which you can learn more about in the press release below.
Vivrelle, the first-of-its-kind membership club that offers access to a shared closet of designer handbags and accessories, today announced the close of a $35 million Series B financing round led by 3L Capital, with participation from Origin Ventures, Chapford Capital Group, Plus Capital, actresses, Lily Collins and Nina Dobrev, and personality and entrepreneur Morgan Stewart McGraw.
Since closing its Series A round nearly a year and a half ago, the company’s revenue has seen sixfold growth, and continues to see profitable triple digit expansion. As Vivrelle continues its journey at the forefront of innovation in the luxury borrowing space, and revolutionizes the way you view your closet, Series B funding will promote accelerated growth across all verticals of the brand’s business.
“This recent round of fundraising marks a milestone for Vivrelle we only dreamt about when launching in 2018,” says 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,” says 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.”
Vivrelle continues to build on the changing landscape of the shared closet and luxury resale experience and drives forward its status as a vanguard in advancing accessibility and circularity. Vivrelle’s inventory and membership options can be found on Vivrelle.com.
About Vivrelle
Founded in September 2018 by newlyweds Blake and Wayne Geffen, Vivrelle is a first-of-its-kind membership club that provides access to a shared closet of coveted designer handbags, jewelry and diamonds for a monthly membership fee. With a dedication to making 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 Vivrelle’s closet at exclusive members-only discounted prices. Encompassing the true meaning of a membership club, Vivrelle offers exclusive club perks, further transforming the way consumers experience luxury in everyday life.
Spencer Hulse is a news desk editor at Grit Daily News. He covers startups, affiliate, viral, and marketing news.
