“Not my Bag” is Now a Good Thing: Why We Invested in Vivrelle

  • June 4, 2021
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Reviewing my monthly credit card bill is a chore I often dread as my eyes scroll through the rows on the statement. But there is always one glimmer of joy, with a charge I’m delighted to pay – my monthly membership in Vivrelle.

For $99 per month, I have access to a shared closet of luxury fashion accessories and a large network of benefits from brand partners. I love fashion and new experiences, so I am excited to be able to accessorize in a unique and sustainable way.

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 its dedication to making luxury accessories fun, flexible, affordable, and sustainable, Vivrelle allows members to borrow items with no return date. Members can also purchase items they love from Vivrelle’s closet at members-only discounted prices. Vivrelle’s membership club also offers exclusive perks including partnerships with brands like SLS, Flyjets, and Sakara Life: further transforming the way consumers experience luxury in everyday life.

At Origin Ventures, we have a ‘Digital Native’ thesis that underpins all of our investments: the idea that our generation grew up with a cell phone in our hand, and – as a result – we live, work, and play differently than previous generations. Vivrelle understands the needs and preferences of ‘Digital Natives,’ and has prioritized creating a seamless customer experience without compromising on sustainability or quality. 

Vivrelle is poised for accelerated growth in the coming years, with tailwinds from both the exploding resale economy and the shared economy. The $10B resale market is expected to grow 40% annually, driven by GenZ secondhand shopping. GenZ consumers are 2x more likely to buy secondhand than their parents and are more interested in luxury high-quality brands. Approximately two thirds of Gucci consumers are Millennial/ GenZ. Vivrelle’s membership caters to these preferences and the desire to borrow instead of own, providing Digital Native customers with a luxury experience that fits into their asset-light, clutter-free, and sustainable lifestyle. 

I proactively reached out to Vivrelle founders Blake and Wayne after thinking about subscriptions that I love as a Digital Native consumer. They emailed me (as they do all members) when I first joined Vivrelle and followed up every so often to see how I was enjoying my membership. When I responded asking about their plans for growth, they were happy to discuss their capital strategy. This led to Origin Ventures leading a $26M Series A financing in Vivrelle, with participation from Chapford Capital Group. The financing will allow Vivrelle to unlock demand from its 4,000-member waitlist and invest in additional partnerships, further differentiating its unique membership club. Vivrelle is redefining luxury fashion by providing a seamless customer experience and we are proud to partner with Blake, Wayne, and Zach and look forward to building Vivrelle together.

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