Luxury rental platform Vivrelle bags $26M Series A funding to redefine how consumers experience luxury
Why buy for luxury when you can just rent? From borrowing a Chanel bag for free to booking a luxury getaway to Miami, Vivrelle is a luxury rental platform where you can borrow items directly from your favorite jewelry designer.
Vivrelle is the brainchild of newlyweds Blake and Wayne Geffen. The New York City-based platform was founded in September 2018 after the bride was on the hunt for accessories to don throughout her weekend of celebrations and on the big day. Instead of spending thousands on diamonds and clutches probably for one-time wear, Blake decided to search for a place online where she could rent pieces that she loved at low cost and short-term. Unfortunately, the ones she found didn’t meet her needs–they were fragmented and lacked the kind of quality designer and luxury she was looking for. That’s how Vivrelle was born.
Today, Vivrelle announced today the close of a $26 million Series A financing round led by Origin Ventures, with participation from Chapford Capital Group. Since founded three years ago, Vivrelle has built a community around sustainable, flexible, and affordable luxury accessories. Rethinking how people utilize their closets and value experiences over ownership, the membership club allows consumers to experience items for as long as they would like or swap them out monthly.
Vivrelle also elevates the try-before-you-buy model by offering members-only discounts to purchase items from Vivrelle’s closet. Encompassing the true meaning of a membership club, Vivrelle offers exclusive club perks, further transforming the way consumers experience luxury in everyday life.
Since its inception, Vivrelle has been at the forefront of the sharing and resale economies that are shaping the future of luxury fashion and retail. Vivrelle experienced triple-digit growth in 2020, and with the current financing, Vivrelle is poised for rapid expansion on all fronts, including admitting thousands of additional members off of its growing waitlist.
“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. “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. “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.”
Vivrelle is a first-of-its-kind membership club that provides access to a shared closet of coveted designer handbags, jewelry, and diamonds for a monthly membership fee. With a dedication to making luxury accessories fun, flexible, affordable, and sustainable, Vivrelle provides members with the ability to borrow items with no return date.
In a fresh take on the try-before-you-buy model, Vivrelle members are also able to purchase items they love from Vivrelle’s closet at exclusive members-only discounted prices. Encompassing the true meaning of a membership club, Vivrelle offers exclusive club perks, further transforming the way consumers experience luxury in everyday life.