Paris-based second-hand marketplace Faume has announced a €7m ($7.8m) funding round led by Daphni and BPIFrance Digital Ventures. The platform, which enables luxury and ready-to-wear brands to sell second-hand goods, was founded in 2020 by Aymeric Déchin, Nicolas Viant, Lucas Patricot and Jocelyn Kerbourc’h. Faume offers a white-label technology and logistics solution that provides brands with a customisable e-commerce website for customers. Faume takes care of the product return process and refurbishment before listing the items on a dedicated site for each brand. Brands that have partnered with Faume include Hugo Boss, Sandro, The Kooples and Isabel Marant.
The funding will be used to improve the platform and make the luxury market more sustainable. Faume’s solution has enabled brands to tap into the growing second-hand market and offer it as an additional service to their customers. The second-hand market has been gaining popularity in recent years, and luxury brands are increasingly seeking to capitalize on this trend. By offering second-hand products, brands can appeal to environmentally conscious customers and contribute to a more circular economy.
Daphni, a French venture capital firm, specializes in funding early-stage start-ups in the tech and digital sectors. BPIFrance Digital Ventures is the investment unit of the French public investment bank BPIFrance. It invests in start-ups and scale-ups in the digital sector that have the potential to transform their industry. The participation of these two investors in Faume’s funding round highlights the potential of the second-hand market and the importance of sustainability in the luxury industry.
In conclusion, Faume’s innovative solution provides a more sustainable way for luxury and ready-to-wear brands to expand their offerings and reach a wider customer base. The €7m funding round led by Daphni and BPIFrance Digital Ventures will help Faume improve its platform and continue to promote a more responsible and circular economy in the luxury industry.