GoTrendier and Chicfy merge to create the largest second-hand fashion platform in Latin America and Spain
The companies are leaders in Mexico, Colombia and Spain, with more than 8 million users.
Mexico City, March 25, 2019: GoTrendier (https://www.gotrendier.mx/) announces its merger with Chicfy (https://www.chicfy.com/), the largest merger of second-hand fashion startups in the Spanish-speaking market. Driven by the same mission, to create an alternative to fast fashion and to build the largest second-hand fashion platform in the countries which they operate, the group will focus on continuing to accelerate its growth and to expand into new countries.
This merger is a great step that will allow both companies strengthen and boost their growth, as well as creating synergies in strategic areas such as technology, finance and marketing, which will allow the development of functionalities to generate a better experience for the user and to continue to scale in current markets. The objective is to create a large marketplace for buying and selling second-hand clothing in the Spanish-speaking market with the opening of new business subsidiaries in Latin America.
There is great potential in the second-hand fashion market, both companies already have more than 8 million users, with a catalog of garments that exceeds 12 million active products. In this last year, the combined activity has generated one million transactions with a transaction volume of €25 million, consolidating the business model in Europe and Latin America. Both business models are transactional, C2C (consumer to consumer), logistically integrated to provide users the best services by guaranteeing the quality of the products through the validation by the style team.
"The great beneficiaries of this merger will be the users, as the teams are strengthened with top-level professionals, with the main objective of improving the quality of service and experience. However, the operations will continue independently in each country", expressed Belén Cabido, founder and CEO of GoTrendier.
"The success of a company is based on an exhaustive analysis of the business and how to correctly interpret the numbers, therefore, this union allows us to obtain business intelligence to help both companies to scale more quickly", commented Jesús Monleón, CEO of Chicfy.
"Both GoTrendier and Chicfy have managed to be highly successful in the markets in which they operate, so this merger represents a great opportunity for growth, lowering costs, improving technologies, always with the focus of offering a quality experience for users" , said Christine Kenna, Partner at IGNIA.
"The purchase and sale of second-hand clothing among individuals is a model of success worldwide, and the second-hand clothing market is expected to move US$400 billion in 2022. With the merger of the two companies, we become the largest player in the Spanish-speaking countries", says Luis Martín Cabiedes, Partner at Cabiedes & Partners
Founded in Spain in 2013. Chicfy is the leading second-hand fashion marketplace in Spain for men, women and children. The main differentiating factor of Chicfy is the creation of a community based on second-hand fashion. The company has shareholders such as Luis Martín Cabiedes, business angels of seedrocket and for a few months, with GoTrendier. The consolidated team reaches 45 people who make this company a very efficient company in capital and that hopes to reach break even by the end of the year.
Founded in Mexico in 2016. GoTrendier has the largest second-hand fashion community in Latin America. The startup has a team of 20 people operating in Mexico, Colombia and Spain. Partners like Bonsai, Antai, Pedralbes from the beginning, later joining in a second round IGNIA, Banco Sabadell and Ataria Ventures. GoTrendier has raised more than €5 million, this last round aims to open new countries in Latin America.