Tag Archives: CSR

Vestiaire Collective Raises €59 Million to Support Its Community in Changing the Fashion Industry for a Better Tomorrow

April 21, 2020 TechENT Syndication Leave a comment

PARIS, April 21, 2020 /PRNewswire/ —

The new round brings on board Korelya Capital, funds managed by Fidelity International, Vaultier7 and Cuir Invest
Existing shareholders Eurazeo (Eurazeo Growth & Idinvest Venture funds), Bpifrance, Vitruvian Partners, Conde Nast, Luxury Tech Fund and Vestiaire Collective’s CEO, Max Bittner also reinvest
The round will be used to:
– Continue transforming the fashion system while offering a smart, circular and responsible alternative to throw-away fashion
– Jointly explore the expansion of the global business into Japan and Korea through Korelya Capital, backed by Naver
– Expand the launch of Direct Shipping service in the US

Ahead of Earth Day’s 50^th anniversary and in this unprecedented period of uncertainty, Vestiaire Collective, the leading global platform for desirable pre-owned fashion today announces the completion of a €59 million round of financing, existing shareholders reinvest alongside new investors Korelya Capital, which is backed by Korean technology conglomerate Naver, funds managed by Fidelity International, Vaultier7, a specialist female-led consumer fund, and Cuir Invest, which is backed by the French Leather industry.

The current economic and ecological crisis are accelerating an existing shift in consumer mindset, driven by growing criticism of waste-producing business models, and increased desire for purpose-driven brand action. As a company, Vestiaire Collective is committed to limiting the waste produced by the fashion industry, by keeping clothes out of landfill and increasing the number of times they are worn today, for a better tomorrow.

As the leading global resale platform, this round demonstrates that the Vestiaire Collective model embodies the future of the fashion industry and unifies growing consumer sentiments. Following the COVID-19 crisis, we expect:

Further adoption of online shopping, but more importantly an increased focus on social values and communities, with more people supporting each other.
Consumers are set to become increasingly resourceful as they look to resale as an additional way to raise funds and find unexpected value in their wardrobe.
Environmental concerns will further drive a more conscious approach to consumption, as 20% of consumers expect to reduce their clothing consumption following the crisis*.

Vestiaire Collective has seen deposits and orders quickly rebound to the pre-COVID 19 baseline or above. During this challenging period this clearly demonstrates customer demand for circular business models, both now and looking ahead to the future of the rapidly evolving retail landscape.

Vestiaire Collective encourages a move away from throwaway fashion towards quality that lasts and holds value. We believe that today, our community of over 9 million fashion activists will be proud to lead by example and spread the word converting more consumers to the cause. Because in the end, it’s not the big, impressive statements that will make the most impact, but the meaningful change taken every day by individuals, no matter how small or large. We trust Vaultier7 as members and ambassadors of the Vestiaire Collective community to help us build on this momentum by expanding in the most thoughtful way. We are also excited by their extraordinary network which will support us in further unlocking underutilized personal luxury goods to meet the demand of buyers globally.

This new round of funding will also allow for further acceleration of Vestiaire Collective international business beyond the countries where the company’s community is already well established. Currently, over 80% of the French headquartered company’s transactions are already generated cross-border.

Thanks to Korelya Capital, which is backed by Korean technology conglomerate Naver, Vestiaire Collective will jointly explore the expansion towards Japan, the biggest resale market in the world, and Korea in 2020 and beyond.

Finally, this round will help us continue to drive ambitious growth in the US market and further develop our successful Direct Shipping model. Launched in Europe in September 2019 the service is increasingly popular with a growing number of customers. Currently already over 50% of orders in the EU are fulfilled through the new service, which is also growing at a rate of +60% MoM. The model will be launched in the United States in early summer followed by Asia before the end of 2020.

Max Bittner, CEO of Vestiaire Collective – Investment Announcement

Max Bittner, Vestiaire Collective’s CEO comments:

“I am personally convinced that this unprecedented period of disruption will not only challenge where we shop but how we shop. Vestiaire Collective was built during the 2008 crisis, and proves today how it can help people in their daily life to make the most out of their belongings, but also to access fashion in a sustainable and conscious way. Everyday, I feel proud and amazed by our global community of fashion activists who are leading the way towards a brighter future.”

Paul Degueuse, General Partner of Korelya Capital says,

“As we all take a step back and contemplate the way we live, we believe consumption patterns are on the verge of a deep structural evolution, and C2C platforms have a strong role to play here. We see in Vestiaire Collective an emerging leader and catalyst of this upcoming disruption. We are extremely enthusiastic to support Vestiaire Collective and its founders in its expansion. There are tremendous opportunities for growth in Asia, and we look forward to helping the company accelerate its expansion in this part of the globe.”

Vaultier7 comments:

“Vestiaire Collective has transformed the way people consume desirable and luxury fashion with its trusted and inspirational resale model and we are truly proud to be there at this time to support them in their mission, and support buyers and sellers across the globe on their path to cautious, minded consumption, values which are more important than ever and which are at the core of Vaultier7.”

Frank Boehly, Président of SIC SA investor Cuir Invest, says,

“Cuir Invest is happy to support Vestiaire Collective, as it is a company with an impressive management team, and huge growth potential. We have been impressed by the technological quality of the solution, by the quality and the dynamism of the management team, and by their intelligent and sustainable approach to fashion. We truly believe that Vestiaire Collective can become the world leader in their sector.”

NOTES TO EDITORS:
*McKinsey Covid-19 response in Apparel and fashion study

About

About Vestiairecollective.com Vestiaire Collective is the leading global platform for desirable pre-owned fashion. Curated by its trusted community of fashion lovers, members inspire one another whilst selling and buying unique pieces from each other’s wardrobes. Encouraging consumers to join the circular economy as a sustainable alternative to throw-away fashion, the platform is unique due to its highly engaged community, its rare desirable inventory and its authenticity and quality control process. Launched in Paris in October 2009, Vestiairecollective.com has over 9 million members across 90 countries worldwide with offices in Paris, London, New York, Milan, Berlin and Hong Kong. Over 60,000 new items are submitted by its community of sellers every week, which enables buyers to search amongst highly coveted and sold out fashion pieces whilst participating in the circular fashion movement. @vestiaireco

ABOUT VAULTIER7

Founded by experienced dealmakers Montse Suarez and Anna Sweeting, and backed by elite investors, Vaultier7 is the UK’s first specialist investment fund dedicated to partnering high growth category creators and disrupters in the converging sectors of Beauty & Personal Care, Health & Wellness and Lifestyle.

Vestiaire Collective – Investment Announcement

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PR Newswire

Entrepreneurship flourishes amid pandemic; Antler receives over 1500 applications for COVID-19 call

April 20, 2020 TechENT Syndication Leave a comment

SINGAPORE, April 20, 2020 /PRNewswire/ — Global early-stage VC Antler has received over 1500 applications from 100 countries in barely two weeks since it launched its COVID-19 call to startups. Startups applied for funding with various solutions to tackle the current pandemic. Antler is currently shortlisting and interviewing the teams and plans to invest in up to 5 teams and deploy up to US$500,000 in aggregate.

Entrepreneurship flourishes amid pandemic; Antler receives over 1500 applications for COVID-19 call

Examples include drone delivered test kits for remote villages, patient monitoring systems, antiviral surface coating and manufacturers pivoting production to products currently needed. The response has been overwhelmingly positive from both new startups and existing businesses adapting their existing products and operations.

“Our approach for selection has been different compared to our usual Antler program. Due to the speed at which the solution needs to be implemented and put into action, we are selecting only existing teams and startups that already have a minimum viable product or a pilot project to show,” said Jussi Salovaara, co-founder and Managing Partner of Antler.

Antler invited startups to propose solutions in Mitigation (e.g. masks, contact tracing, surveillance, data infrastructure), Medical Equipment (e.g. test kits, protective devices, ventilators), Remote Health (e.g. telehealth, remote patient monitoring, symptom checkers) and Digital Tools (e.g. remote work, smart delivery, e-learning). The purpose is to contribute towards the path to recovery from the crisis.

“From the breadth of applications received, we are seeing a coronavirus-induced acceleration of a digital-first mindset across many traditional industries, where entrepreneurs understand that COVID-19 will permanently change the landscape of our lives and are planning for the needs of a post-COVID society,” added Salovaara.

The Investment criteria will take into account the relevance towards mitigating COVID-19, as well as how the startup works in a post-COVID-19 era.

Companies receiving the investment will receive access to Antler’s global network of entrepreneurs, investors and industry experts, as well as coaching by Antler’s leadership. Antler will help startups get their solutions off the ground and make them accessible to those who need them as quickly as possible. Given the overwhelming response, Antler is continuing to accept select applications on a rolling basis.

About Antler

Founded in Singapore in 2017, Antler (www.antler.co) is a global early-stage VC helping to build the next big wave of tech. With the mission to turn exceptional individuals into great founders, Antler aims to create hundreds of companies globally. They select the world’s most exceptional and determined people, help them find the right co-founder and connect them to a top tier network of advisors and experts worldwide. Antler breaks the barriers to entrepreneurship by providing funding from day one and building strong teams from the ground up while enabling founders to rapidly launch and scale their ideas. Antler has 8 locations globally- Singapore, London, New York, Amsterdam, Stockholm, Sydney, Nairobi, and Oslo.

At Antler, we feel passionate about helping to map out the path to recovery for the global tech startup ecosystem during and following the COVID-19 pandemic. As such, we have launched a few other initiatives to empower and support entrepreneurs. Read our ‘finding the upside’ series on Medium, join one of our online events or listen to our podcast.

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PR Newswire

Charoen Pokphand Group Launches Surgical Mask Factory along with Multi-Pronged Initiatives against COVID-19

April 17, 2020 TechENT Syndication Leave a comment

Production starts today at surgical mask factory in Bangkok, producing 100,000 masks per day
Pledged to save jobs across the Group, along with medical, food and education support for employees
Donated USD 29.14 Million in Thailand to tackle COVID-19

BANGKOK, April 17, 2020 /PRNewswire/ — To tackle the COVID-19 pandemic, Charoen Pokphand Group (C.P. Group) announces a series of measures focused on supporting its employees, consumers, and the local community, especially healthcare workers. The multi-pronged initiatives include building a surgical mask factory to provide essential medical supplies, preserving jobs across the Group, delivering food and essential supplies to frontline healthcare workers and enhancing digital infrastructure to enable more efficient e-learning and remote working. To date, the Group has contributed donations worldwide to tackle COVID-19, with donations to Thailand totaling USD 29.14 Million, including for the procurement of medical supplies and protective equipment for hospitals.

The Group’s initiatives include the following key areas in Thailand:

Launched Surgical Mask Factory: C.P. Group invested USD 3 million (100 million baht) to build a factory just outside Bangkok to produce medical-grade surgical masks in Thailand. The factory was built in 5 weeks during COVID-19 and has obtained regulatory approval from Thai authorities to start producing surgical masks today, with production reaching 100,000 masks per day which totals to 3 million masks per month. The masks will be donated for free to medical professionals and healthcare workers throughout Thailand’s hospitals. When the COVID-19 crisis subsides, the ownership of the factory will be transferred to one of Bangkok’s public hospitals.
Support to employees: Mr. Suphachai Chearavanont, the CEO of C.P. Group announced on April 8^th, 2020 to staff that the Group is committed to not making layoffs as a result of COVID-19 across the Group worldwide, and will work together with its subsidiaries in accordance with local laws and regulations. In addition, the Group will cover medical expenses to treat COVID-19, provide education loans for their employees’ children, and provide food to quarantined employees who are negatively impacted by COVID-19 in Thailand. The Group also announced plans to create new jobs, including hiring 20,000 new employees for food delivery services across Thailand.
Free delivery of food and essentials supplies to hospitals: In response to COVID-19, Charoen Pokphand Foods Public Company Limited (CPF) has provided free food delivery to 88 hospitals across Thailand. To cope with rising demand for food supply throughout Thailand, CPF has increased production capacity of certain essential food such as eggs and will ensure sufficient supplies without an increase in food prices.
Upgrade digital infrastructure for remote working and e-learning: C.P. Group’s telecommunications arm, True Corporation Public Company Limited (True Corporation), tripled domestic and international bandwidth capacity to provide customers with enhanced services on digital platforms for e-learning, remote working and e-payment services. To provide digital solutions that help with social distancing, True Corporation has offered free access to a cloud-based integrated solutions platform – “True Virtual World”- that was developed in less than a month during COVID-19 to support work from home arrangements and e-learning for students. True Corporation, in collaboration with CPF, is also providing free mobile phone SIM cards to suspected COVID-19 patients who register to receive free food delivery from CPF. In addition, through the Digital Council of Thailand (DCT), of which C.P. Group’s CEO Suphachai Chearavanont is President, True Corporation announced that they will work alongside other Council members to launch digital platforms and applications to help source medical supply donations as well as track, trace and contain the spread of COVID-19.

Mr. Suphachai Chearavanont, CEO of Charoen Pokphand Group, said, “During these dark times, we must unite and tackle COVID-19 together. Critical to our fight against this pandemic is to make sure our frontline medical workers have the essential medical equipment they need, and surgical masks are critical for them at this time. At this moment, we are also very focused on keeping people employed and do what we can to help our employees and their families, our customers and our local communities. With the mask factory now open along with all our other COVID-19 initiatives, we are using the best of our capability throughout the areas and sectors our Group operates in to contribute to the fight against COVID-19. Our Group was founded on the Three-Benefit Principle, which places the countries and communities in which we operate as well as our people before the company’s interest. This remains central to everything that we do, especially during difficult and challenging times.”

Mr. Soopakij Chearavanont, Chairman of Charoen Pokphand Group, said, “We are committed to fighting the COVID-19 pandemic alongside Thailand until the very end. We strongly believe that through the global partnerships we have with our network of suppliers and most importantly employees, we can pool together skills and resources as we continue our joint efforts to tackle COVID-19. We recognize that this is a challenging time for us all, and as a Group, we want to make sure we are doing everything we can to help our local communities and to support all our stakeholders. This is the right thing to do at this time and I believe by working together, we can get through this unprecedented challenge that COVID-19 has presented to all of us both locally and globally.”

Suphachai Chearavanont (center), CEO of C.P. Group, visiting the production line inside the surgical face mask factory

C.P. Group Senior Chairman Dhanin Chearavanont (sixth from left), Chairman Soopakij Chearavanont (fourth from left), and CEO Suphachai Chearavanont (third from left), handed 100,000 masks to the Chulalongkorn Hospital, Thai Red Cross

About Charoen Pokphand Group:

The Charoen Pokphand Group (C.P. Group) is a leading Thai multi-national conglomerate that operates 3 core businesses in agro-industry and food, marketing and distribution, and telecommunications. C.P. Group invests in 21 countries with over 200 companies and 300,000 employees located around the world. The organization operates under the ‘3-Benefits’ principle of ‘Benefiting the Country, the Society and then the Company’ where ever we operate, thereby enabling C.P. Group to play a role in the development of Thailand’s economic and social development as well as all countries we have invested in. Since September 2017, three of C.P. Group’s listed businesses have been admitted to the Dow Jones Sustainability Index (DJSI) Emerging Markets, signalling C.P. Group’s long-term commitment to ensuring a sustainable future.

For more information, please visit: www.cpgroupglobal.com/en/

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PR Newswire

KLab Unites with the Game Industry and WHO #PlayApartTogether Campaign to Prevent the Spread of COVID-19

April 17, 2020 TechENT Syndication Leave a comment

TOKYO, April 17, 2020 /PRNewswire/ — KLab Inc. (Headquarters: Minato-ku, Tokyo, President & CEO: Hidekatsu Morita, hereinafter referred to as “KLab”) announced that together with major game publishers around the world and the WHO (World Health Organization) that they are uniting to support the #PlayApartTogether campaign. The initiative encourages people to help slow the spread of COVID-19, which is sweeping its way around the world, by following health and safety guidelines to stay at home.

KLab joins #PlayApartTogether.

As the whole world is currently being impacted by the spread of the COVID-19, the company decided to do our part by joining the #PlayApartTogether initiative. KLab wants to support gamers and everyone around the world by encouraging them with the following message to “stay home, practice physical distancing, and play games together.”

KLab joins #PlayApartTogether.

In addition, they have decided to hold their own in-game campaigns so that players can enjoy their time at home starting today. Details of the in-game campaigns will be announced on the official websites and social media pages for each title.

Message

To everyone around the world,

I believe that we are all feeling uneasy these days because of the new coronavirus (COVID-19). Staying at home is now more important than ever to prevent transmission and protect our loved ones. Games are a great form of entertainment you can enjoy at home. Instead of going out, we can work together to help contain the infection by staying home and playing games with our families, partners, and friends (#PlayApartTogether).

We have also set up campaigns to help you enjoy some of the games we have to offer.

We pray for the safety and good health of everyone around the world.

KLab Inc.

President and CEO

Hidekatsu Morita

About #PlayApartTogether

The world’s major game publishers and developers have united for this initiative to disseminate the correct WHO recommended health guidelines, such as physical distancing and hand hygiene to help slow the spread of COVID-19. These messages will be conveyed around the world through games and industry networks. The ability to stay home and play games while interacting with others is one way of maintaining both your mental and physical health.

For more information on #PlayApartTogether please visit the official announcement page and the WHO website.

* Company, product, and service names are trademarks or registered trademarks of their respective companies.

Participating Campaign Game Titles

Games participating in KLab’s #PlayApartTogether campaigns.

“Love Live! School Idol Festival All Stars”
Players can receive Show Candy (100%) x5 and other great rewards.

“Captain Tsubasa: Dream Team”
Players can receive up to 100 Dreamballs, SSR Transfer Tickets, and other great rewards.

“Bleach: Brave Souls”
Players can receive a Choose a 5 Summons Ticket (April 2020), a Choose a 5 Summons Ticket (April 2020 Seasonal), and other great rewards.

“Utano Princesama Shining Live”
Players can receive an 11-Shot Pass (SR+ x1) and other great rewards.

“Love Live! School Idol Festival”
Players can receive Sugar Cubes [LP50], Scouting Tickets, Scouting Coupons, a UR Scouting Ticket and other great rewards.

*For further details be sure to check out the in-game announcements. Contents are subject to change without prior notice.

*Please note that some titles may not be playable depending on the service language or region of the user.

Copyright

About KLab

KLab is a leader in online mobile gaming. Founded in 2000 and headquartered in Tokyo, the company is listed on the 1st Section of the Tokyo Stock Exchange. KLab has consistently ranked as one of the top 52 grossing game publishers worldwide since 2012. With its emphasis on quality and innovative games, KLab continues to grow at a rapid pace, expanding beyond the Japanese market with an office in Shanghai. For more information about KLab, please visit http://www.klab.com/jp/english/.

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Source: KLab Inc.

PR Newswire

OctaFX Is Donating 25,000 USD to COVID-19 Relief

April 17, 2020 TechENT Syndication Leave a comment

KINGSTOWN, Saint Vincent and the Grenadines, April 17, 2020 /PRNewswire/ — OctaFX is a Forex broker implementing online trading services globally since 2011. It offers a state-of-the-art trading experience to over one million users. OctaFX has won more than 20 awards since its foundation, including the Best Forex Broker Asia 2019 award. The company is well-known for its social and charity activity. They announced an initiative to help combat the virus, which has affected many, with a 25,000 USD donation.

OctaFX is Donating 25,000 USD to COVID-19 Relief

The beneficiaries of the 25,000 USD contribution are Aksi Cepat Tanggap, Indonesia, a humanitarian organisation; Malaysian Red Crescent Society, Malaysia; Vallalar Educational Trust, India; and Award Pakistan, Pakistan. These charities specifically serve impoverished families, medical workers, and those most impacted by the fallout from COVID-19. The donation will go towards purchasing of medical masks, hand sanitizers, and food.

They reported that this is not their only initiative. Just recently they declared that they would be dramatically reducing their spreads up to 14 points. They have also asked locals to enquire about humanitarian organisations that could also benefit from an OctaFX monetary contribution. They’ll be holding a benefit lasting a month later beginning on the 23rd of April which will raise money to help those in need.

OctaFX always seeks new ways in which to provide support to local communities. They’ve challenged other brokers to match their relief efforts by cutting spreads and donating. OctaFX has a detailed history providing public assistance, and this is another example of how they value society.

Follow OctaFX on Instagram

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Contact: marketing@octafx, +34-691-370-613

techENT

Tag Archives: CSR

Vestiaire Collective Raises €59 Million to Support Its Community in Changing the Fashion Industry for a Better Tomorrow

Entrepreneurship flourishes amid pandemic; Antler receives over 1500 applications for COVID-19 call

Charoen Pokphand Group Launches Surgical Mask Factory along with Multi-Pronged Initiatives against COVID-19

KLab Unites with the Game Industry and WHO #PlayApartTogether Campaign to Prevent the Spread of COVID-19

OctaFX Is Donating 25,000 USD to COVID-19 Relief

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