NEW YORK — Vivrelle, a membership club that provides access to a shared closet of designer handbags, jewelry and diamonds, announced the close of a $26 million financing round.
The funding will enable the company to support membership growth, expand its product offering to meet increased membership demand, amplify marketing initiatives and partnerships, and scale its services, operations, and internal teams, according to a press release. The Series A round was led by Origin Ventures, with participation from Chapford Capital Group.
“We are thrilled to close our Series A funding with the support and confidence of Origin Ventures and Chapford Capital Group. This round of financing will allow Vivrelle to scale its one-of-a-kind platform and continue offering individualized and unparalleled customer service to our community of members,” said Blake Geffen, co-founder and CEO of Vivrelle. “It’s an exciting opportunity to advance the growth of circular fashion and be at the forefront of reimagining consumers’ shopping experience.”
According to the release, Vivrelle experienced triple-digit growth in 2020 and with the new financing “is poised for rapid expansion on all fronts, including admitting thousands of additional members off of its growing waitlist.”
“Vivrelle is uniquely positioned at the intersection of the exploding resale and shared economies,” said Origin Ventures Managing Partner Jason Heltzer. “Its understanding of Digital Natives – Millennials and Gen Z consumers who spend differently than previous generations – has enabled it to build an incredible business that provides on-demand access to luxury brands at the speed of fast-fashion without compromising on environmental impact and quality. Origin Ventures is proud to partner with Vivrelle’s world-class team and co-investor, Chapford Capital Group.”