S. Andries (collective cloakroom) & the Cabinet Dechert: "Knowledge of the company by the Council is a priority" - Magazine Decideurs

Can you introduce us to the strategy and the collective cloakroom mission?

Sylvain HASndries.Collective cloakroom is the first market place in the second -time fashion world, present in nearly 80 countries.Created in 2009 in France and then in Europe, HASsia and the United States.Today, it is a community of nearly 11 million members on the three continents that deposit nearly 500,000 items for sale on the site every month.

Our company has given itself the mission of transforming the fashion industry to make it more sustainable, to promote a circular model by reselling what we no longer use or to buy other first or second hand items.The objective is therefore to offer an alternative to the historic consumption model.

To achieve this goal, three main axes have been retained in which we invest a lot and which differentiate us.First, technology, especially since the arrival of our current CEO, Maximilien Bittner.Collective cloakroom has become a real box of technology that uses artificial intelligence in particular to improve the user experience.Then come the effectiveness of the logistics chain and its ability to manage marketplace between 80 countries, to which we attach great importance and which contributes to our success.Finally, we are a community of members, the "fashion activists".If they come to us, it is also because they seek to turn to a more sustainable consumption mode.

The trend and interest in our model have accelerated with the pandemic.This new fundraising is part of a logic that offers many investment possibilities as well as a market marked by strong growth.It will give us the means to seek these opportunities as quickly and as effectively as possible.

How does Decher position himself on the market?

Decher. Decher accompagne Vestiaire Collective depuis 2019, notamment sur la levée de 2020 ainsi que sur la dernière.Our core business lies in the development of businesses, by carrying out successive lifting and accompanying them over.This allows us to save time because we know each other better, and have a better understanding of their business and the issues that can come out during fundraising, especially on subjects, important for them, of governance.Our team supports many start-ups, many in Deep Tech, but also investment funds in often international operations.

What were the determining factors for these new shareholders to join the collective cloakroom adventure?

Our last two fundraisers have been carried out during pandemic period.This period has demonstrated the resilience of our model while highlighting the circular economy which is today on the rise.Investors look at long -term market potentials.HAS market that explodes with us, supported in particular by the challenges of Sustainability which affect the youngest generations a lot, representing an important part of our customers themselves.This element can provide the beginning of explanation to the interest of investors for our sector.

ESG is a parameter that has played a role, without being the only one of the differentiating elements.Our extensive use of tech or market conditions have obviously influence.Our activity, in essence, falls into the ESG criteria but this dimension is reinforced by the authenticity and the concrete commitment of a collective cloakroom to go in this direction.For example, we want to be exemplary and become a B Corp company, the process is underway, and "neutral carbon".So many factors that play an important role today in the choice of investors.

Cette opération qui vient récompenser une nouvelle excellente année chez Vestiaire Collective n’est pas la première dans laquelle Decher accompagne le groupe.Does this partnership facilitate these operations?

D.Supporting our customers in the long term corresponds perfectly to our DNHAS.Our relationship with collective wardrobe allows us to better understand the teams and learn to work together, to better anticipate subjects that can emerge from the relationship with their investors.We are more able to help them manage the relational part.HASs we take care of the legal aspects, we are also the "Time Guards" and make the closing date respected.Get to know the business better and understand how interactions are done within it therefore simplifies the work on both sides.This avoids pitfalls and save time and efficiency.

S.HAS.The ambition that brings us together with our investors is a long -term aspiration.During a fundraising, everyone wants to close as quickly as possible in order to go to the exciting phase, that of the implementation of our common vision.It is a question of advancing as quickly as possible on transactions which can be complex.The knowledge, by the Council, of the company, its partners and its governance is priority and it is necessary to achieve it in a short time. La stabilité de notre relation avec Decher lui permet d’affiner sa connaissance de nos méthodes et de gagner en célérité et efficacité sur l’ensemble des problématiques corporate.

What was the major issue of this operation?

D.The main issue of this lifting, but that was already true for the first, is that with collective cloakroom, everything is done very quickly and everyone is in a hurry to go to the next step.Our role is therefore to support them as quickly as possible. HASvec onze investisseurs existants, et de nouveaux entrants, il fallait réussir à tout coordonner.

One of the success of the lifting is due to their good understanding.At the announcement of the four -week period - against 6 to 8 weeks normally - all investors, historical and new, have grown in the same direction.This made it possible to respect the closing dates.This work also involves good consultation between the various advice taking part in the operation.It is our duty not to create a point of tension.

What is the expected contribution of Kering and Tiger Global Management as new partners for collective cloakroom?

S. HAS.This is a meeting around the strategic intention of the group, which has not changed, building a world leader in used fashion.Kering, which is a reference in the luxury world and who wishes to support innovative economic models, has found an interest in joining the adventure.Like Tiger, a leading investor in high growth models, which has strong experience in business support in their international deployment.

Having them by capital alongside our historic investors, gives us a look at the luxury industry, the world of technology and the expansion of an international model;which perfectly corresponded to our needs and ambitions.

What levers do you intend to support yourself now to continue this growth?

S. HAS.This fundraising gives us the means of our ambitions.From now on, the critical phase during which the funds raised with great rigor must be deployed begins.Priority is given to the international expansion of the group, as well as the growth of our presence on the markets where we are already established.Then we also want to invest a lot in technology, in order to continue to grow teams in technological development and data science to make the most engaging and innovative collective platform possible.Finally, the last axis on which to work is that of collaboration with the world of fashion to extend circular practices.This tour of the table allows us to achieve all this, even if the sector in which we evolve changes quickly and that we must remain attentive to what happens in order to be reactive in the event of a new opportunity.

Les équipes de Decher accompagnent ainsi une nouvelle licorne, quelle vision avez-vous des tendances actuelles du marché français du private equity ?

D.This is obviously an exciting and important operation for collective cloakroom which obtains the status of unicorn with this fundraising.It allows us to see that what was looming before the pandemic is growing with increasingly important tables and a number of French unicorns growing up.This reflects a French market full of beautiful businesses to deploy internationally.It is a pride to train future world actors from France.

Interview by David Glaser