The New York membership club Vivrelle is the first of its kind. It gives members access to a shared closet of designer handbags and accessories. The company has also just announced that it has raised $35 million in a Series B financing round.
The investment round was led by 3L Capita. Origin Ventures, Chapford Capital Group, Plus Capital, and celebrities Nina Dobrev and Lily Collins from Netflix show Emily in Paris.
The Series B investment will be used to speed up the growth of the brand in all areas.
Blake Geffen, co-founder, and chief executive officer of Vivrelle, stated that the most recent investment round is a major milestone for the company that was merely a pipe dream when it launched in 2018. “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,” said Jodi Kessler, Partner at 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.”
“I’m thrilled to support and invest in this female-founded company,” remarked Lily Collins, actor, and investor. 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 strong passion and affection for fashion and style,” actor and investor Nina Dobrev remarked. “As an advocate for female-founded businesses, I am pleased to support Vivrelle – a firm that embodies everything I love about fashion.” I believe that no one should be denied the luxury of designer accessories, and I’m delighted to be a part of Vivrelle’s ability to reach even more people.”
“I am very happy to support and invest in Vivrelle, the ultimate luxury accessories closet,” stated Morgan Stewart McGraw, a celebrity and entrepreneur. I’ve respected this organization for years and am overjoyed to be working with them.”
Vivrelle Established by Honeymooners!
Vivrelle is a membership club founded in September 2018 by newlyweds Blake and Wayne Geffen that provides access to a shared closet of desired luxury handbags, jewelry, and diamonds for a monthly membership fee. Members can borrow products with no return deadline from the company.
It aims to make access to luxury accessories enjoyable, flexible, inexpensive, and long-term. Members can borrow products from Vivrelle without having to return them. In a novel twist on the try-before-you-buy approach, Vivrelle members can also buy products they like from the company’s closet at members-only discounts. It also provides exclusive membership benefits, changing the way people perceive luxury in everyday life.