NEW YORK, Nov. 4 — Vivrelle, the first-of-its-kind membership club that gives members access to a shared closet of designer handbags and accessories, announced today the completion of a USD 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 completing its Series A investment over a year and a half ago, the company’s revenue has increased sixfold and continues to expand profitably in the triple digits. Vivrelle’s Series B financing will drive faster expansion across all verticals of the brand’s business as it continues its journey at the forefront of innovation in the luxury lending industry and revolutionizes the way you perceive your wardrobe.
Blake Geffen, co-founder and CEO of Vivrelle:
“This current round of funding represents a milestone for Vivrelle that we only imagined when we launched in 2018. We are very thrilled to have the backing of Lily Collins, Nina Dobrev, and Morgan Stewart McGraw, as well as the capital partners who share our goal of changing the way customers use their wardrobes and enjoy luxury. We are excited to develop Vivrelle in a variety of ways, including extending our product options, adding new display locations, and growing our hardworking workforce.”
Jodi Kessler, Partner at 3L Capital:
“Vivrelle has already established itself as a cornerstone of the resale and shared accessories sector and is well positioned to build on this success via the strength of the brand’s outstanding business model. We are pleased to collaborate with Vivrelle as they reimagine the premium retail experience, which we feel is a combination of retail, resale, and subscription.”
More about the startup:
Vivrelle, founded in September 2018 by newlyweds Blake and Wayne Geffen, is a first-of-its-kind membership club that offers monthly membership fees access to a shared wardrobe of desired luxury handbags, jewelry, and diamonds.
Vivrelle, which is dedicated to making luxury accessories enjoyable, flexible, cheap, and ecological, allows members to borrow goods with no return date. In a novel twist on the try-before-you-buy approach, Vivrelle members may also buy items they like from Vivrelle’s wardrobe at members-only discounts. Vivrelle, which encompasses the genuine concept of a membership club, provides unique club privileges, further redefining how customers experience luxury in everyday life.
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