Founded in 2018, Vivrelle is an ecommerce startup company that offers a monthly membership fee to rent luxury fashion accessories like handbags, jewelry, and diamonds. The rental items allow for more affordability and sustainability as these items are recycled from one renter to the next.
Customers have the option to select one of three membership plans offered by the luxury fashion startup company ranging in price from $99 per month to $279 per month. Each membership plan offered by the app business lets customers rent one or two items that retail at above or below $4,000.
Additionally, items can be rented for as long as a person may choose, with no definitive return date. Renters are also able to purchase items at members-only discounted rates that have not been publicly disclosed through the ecommerce app, if they choose. Furthermore, the fashion luxury membership comes with special perks that are only revealed once one becomes a member. A minimum three-month membership is required when signing up.
Through the ecommerce app, customers can rent luxury items from designer brands like Fendi, Chanel, Cartier, Louis Vuitton, Hermes, and Chopard, among others. In addition, customers can rent items from social media influencers the business has partnered with. Vivrelle is partnered with Stephanie Gottlieb, Paige DeSorbo, Jill Zarin, Michelle Madonna, and a handful of other influencers.
$26 Million Series A
Vivrelle announced in a press release that the startup company has raised $26 million in a Series A financing round led by Origin Ventures with participation from Chapford Capital Group. A business valuation has yet to be disclosed.
In the announcement, the luxury fashion startup company stated it experienced triple-digit growth in 2020 but did not share any official figures. Additionally, Vivrelle stated it has thousands of members on a waiting list.
Regarding the new financing, Blake Geffen, co-founder and CEO of the app business, said 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.”
With the new capital, the startup company plans to focus on membership growth, expanding product offerings, enhancing marketing and partnerships, and scale business operations.
The Luxury Fashion Industry
Vivrelle is a smaller player in the try-before-you-buy market, an emerging market among other ecommerce players like StitchFix, Wantable, and Trunk Club. These companies all employ subscription-style models where customers pay a styling and shipping fee for items, try them, return the items they don’t want, and pay for the items they keep.
Companies such as Vivrelle, and even other ecommerce resale app businesses like Depop and Poshmark, are attempting to combat the fast fashion industry. Fast fashion refers to inexpensive, trendy clothing that is rapidly produced by mass-market retailers, typically produced by extremely underpaid employees, and ends up becoming environmental waste.
McKinsey & Company reported that in 2018 alone, the worldwide fashion industry contributed 2.1 billion metric tons of greenhouse gas emissions. Furthermore, the Environmental Protection Agency reported that also in 2018, 11.3 million tons of textiles ended up in landfills.
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.