Dive Brief:
Vivrelle, a high-end jewelry and handbag membership club, raised $26 million in Series A funding, according to a company press release emailed to Retail Dive. Origin Ventures led the funding round with participation from Chapford Capital Group.
The investment will help the company grow its membership, expand its product offering, launch new marketing initiatives and partnerships and scale its services, operations and internal teams, the company said.
The funding round will also enable the company to add thousands of additional members from its waiting list, per the announcement. Vivrelle reported triple-digit growth in 2020.
Dive Insight:
The funding round follows the launch of Vivrelle's mobile app in February. Blake Geffen, co-founder and CEO of Vivrelle, said the funding round will help scale the platform as the company advances the growth of circular fashion.