Contxto – The largest merger of second-hand fashion startups in the Spanish-speaking market recently transpired between GoTrendier and Chicfy. With an accumulative clientele of 8 million and a catalog of 12 million products, the two firms plan to take Latin America by storm.
Who are the players?
GoTrendier is a Mexican startup that launched in 2016 with operations in Mexico, Colombia and Spain. Following the collaboration, the company plans to expand services to more Latin American countries with users benefiting the most, according to founder and CEO Belén Cabido.
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.GoTrendier CEO Belén Cabido
Across the pond is Chicfy, which is the leading second-hand fashion marketplace for men, women
According to Chicfy’s CEO Jesús Monleón, this merger came into fruition after careful speculation with scaling taking precedence.
The success of a company is based on an exhaustive analysis of the business and how to correctly interpret the numbers. Therefore, this union will allow us to obtain business intelligence to help both companies to scale more quickly.Chicfy CEO Jesús Monleón
What’s the objective?
With an undeniable synergy, Go Trendier and Chicfy want to create alternatives to “fast fashion” based on their transactional C2C (consumer to consumer) business model.
That’s to say, these companies want to promote second-hand clothing instead of items with planned obsolescence. More often than not, the clothes you buy at retail stores have a short lifespan and destined for landfills. The “I gotta have it now” consumer mentality is changing, slowly but surely.
Together, both parties intend to create the largest marketplace for buying and selling second-hand clothing in the region. To do this, they must create more Latin American business subsidiaries. Expect to see more acquisitions in the future.
The merger is also expected to stimulate growth for both GoTrendier and Chicfy. Combined forces with technology, finance and marketing will surely result in improved user experiences and some good old scaling.