Vivrelle raises 26 million dollars

Vivrelle, a luxury accessories membership club, has raised 26 million dollars in a Series A funding round. The company, which was founded in 2018 by husband and wife duo Wayne and Blake Geffen, reportedly has thousands of users in addition to a waiting list. Through the latest round of funding, they are hoping to scale and increase membership. The Series A round was led by Origin Ventures with participation from Chapford Capital Group.

Vivrelle’s platform comes with membership fees between 99 dollars and 279 dollars. Users can borrow luxury bags and fine jewelry from brands including Chanel and Chopard.

Vivrelle’s growth has largely come from word of mouth as they have done very little in terms of marketing. In addition to offering luxury goods for rental, other membership perks with Vivrelle include discounts at certain luxury hotels, private jet companies, and clothing brands. The company currently has 10 employees and wants to use the investment to grow their workforce.

“We are thrilled to close our Series A funding with the support and confidence of Origin Ventures and Chapford Capital Group. 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.”

“Vivrelle is uniquely positioned at the intersection of the exploding resale and shared economies,” said Origin Ventures managing partner Jason Heltzer in a statement. “Its understanding of Digital Natives – Millennials and Gen Z consumers who spend differently than previous generations – has enabled it to build an incredible business that provides on-demand access to luxury brands at the speed of fast-fashion without compromising on environmental impact and quality. Origin Ventures is proud to partner with Vivrelle’s world-class team and co-investor, Chapford Capital Group.”