Softbank Corp.The group has just participated in a new financing round of 178 million euros ($209 million) for Vestiaire Collective, Europe's largest second-hand luxury goods website, valuing Vestiaire at $1.7 billion.
Vestiaire said on Wednesday that Generation Investment, as well as existing investors such as Conde Nast and Eurazeo, were also involved in the financing round.
Marcelo Krauer, chief operating officer of Softbank Corp., will join Vestiaire Collective's board of directors. In an interview, Krauer said his experience in founding and running Brightstar should help Vestiaire Collective. Brightstar is Apple Inc.One of the largest distributors of iPhone.