SoftBank Invests in French Secondhand Site Vestiaire Collective

SoftBank Group Corp. joined a fundraising round by online fashion platform Vestiaire Collective that raises its valuation to $1.7 billion as appetite for secondhand luxury items booms.

The French company raised a total of 178 million euros ($209 million) from SoftBank Vision Fund 2, a private-equity vehicle of the Japanese tech giant, and other investors. These include Generation Investment Management as well as existing shareholders such as Conde Nast and Eurazeo, Vestiaire Collective said Wednesday.

Luxury handbags in a display area at the Vestiaire Collective SA headquarters in Paris, earlier in March.

Photographer: Cyril Marcilhacy/Bloomberg

The fundraising shows how venture capital firms and broader investors are keen to back tech-enabled market platforms such as Vestiaire Collective that are extending ...