DLA Piper Chile advises on the entry of the Swedish giant Grupo H&M to the ownership of the Chilean clothing startup Vestuá

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The local firm was founded in 2017 by entrepreneurs Joaquín Zavala and Santiago Valdés, and several Chilean investors had already joined, such as Pablo Turner and Grupo Prisma, led by Matías Claro. This is the first time that H&M has invested in a Latin American startup.
This Monday, a relevant operation materialized in the world of Chilean startups. The Swedish giant H&M Group completed the entry into the property of Vestuá, a firm created in 2017 by two Chilean entrepreneurs, which is a marketplace to sell second-hand clothing, in the context of the growing trend of resale, sustainable fashion and the circular economy. Vestuá had already expanded to Mexico earlier this year…

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