Membership club Vivrelle, which provides access to a shared closet of designer handbags, jewelry and diamonds, has secured $26 million in Series A funding.
The subscription service, founded by husband and wife team Blake and Wayne Geffen in 2018, allows members to keep items as long as they want, or swap them out monthly. Members also receive exclusive discounts on products they decide to buy.
Vivrelle will use the new funding to grow its membership base — including admitting thousands of new members that are currently waitlisted — as well as to amplify marketing efforts and scale its services, operations and internal teams.
“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 in a statement. “It’s an exciting opportunity to advance the growth of circular fashion and be at the forefront of reimagining consumers’ shopping experience.”
The financing round was led by Origin Ventures with participation from Chapford Capital Group.