Kering made a big bet that the circular economy is the real deal. Kering, which owns such luxury brands as Gucci, Bottega Veneta, Alexander McQueen, and Balenciaga, acquired a 5% stake in Paris-based Vestiaire Collective. That was part of a $215 million round of financing in March raised by Vestiaire that was co-led by Tiger Global Management.
You can read a summary of this interview in this September newsletter. In late September, Vestiaire raised another round of the same size. Two weeks later, Chappaz announced she was leaving Vestiaire to become the new director of La French Tech Mission.