First Digital Social Wardrobe with Clothes Trading Marketplace

17 juni 2021

Beschrijving onderneming:

Main Achievements so far…

  • Started app development in July 2020.
  • Received 25k funding from a ‘good cause’ fund in Jan 2021.
  • Setup a strong management team.
  • Released in App-/PlayStore and of 500 people testing, 94% found it better than other marketplaces.
  • Nominated Best Green Tech and Startup of the Year in Nordic Startup Awards.
  • Invited to Løvens Hule, the Danish Shark Tank.

Mission

Making the fashion industry sustainable by making it fun and simple to give clothes new lives and get flow in the wardrobes.

Imagine

Imagine that unlimited second-hand fashion was only a swipe away. Imagine that it was easy to upload and sell, filter, buy and trade. And what if we cultivated a social environment with likes and comments – could even follow our friends, along with always having an overview of our clothes and outfits right now, right here in the pocket? You see, that’s how this startup imagines the world’s future digital and social wardrobe.

Background

So, it’s 2021 – and sustainability, fashion and e-commerce are trending like never before. However, only about 5% of the population in the Western world trade second-hand online. That’s an issue for the children of tomorrow when the consumption of just a single t-shirt pollutes like two hours of hot shower or 30 meals with meat. Ain’t it time we pick our fights? 7 of 10 Danes say they don’t trade second-hand online because the current marketplaces are too hard and time-consuming. And second-hand shops like Red Cross and Salvation Army have failed to be digitalized for more than a decade now.

The APP

The app is a digital and social wardrobe, and marketplace for clothes trading. Imagine Grailed.com – just in the simple swipe format we know from Tinder with auctions like on eBay and all the social elements we love from Instagram. Basically, it is everything that young people, modern mothers, senior volunteers, didn’t know they needed. Swipe cool second-hand, upload clothes in one click, get the background removed automatically, give leftovers new life in 24 hours, make deals on auctions, enter your entire wardrobe from everywhere, like, comment and follow friends and influencers, see more of what you tend to like, base prices on data, check your green footprint, and many other exciting features!

Marketing

The marketing is characterized by hype and storytelling. Friends Florian and Roberta promote the startup on social medias and guide the users on the journey towards a greener lifestyle. Influencers and resellers are activated to kickstart traction – not to forget media stunts and strategic partnerships. There is obviously a latent market that needs to be addressed, and CNBC forecast that the market for second-hand clothes will grow from 28 to 64 billion dollars before 2025.

Competition

The biggest Danish colleagues at DBA, Trendsales, Tise and Zadaa seem to have stagnated and are generally non-user-friendly, badly marketed, and commercialized platforms based on short-term revenue streams. This startup is here to make fashion as unique as art, culture, and music, and thereby steal trades from fast fashion.

Competitive Advantage

Due to the competitive advantage that this startup will become a trading agency (and not a platform) their primary business model will be a service fee of 2 euro per purchase. With only this revenue stream, capturing just 5% of the Danish market will turn over 3 million euro – and save the planet approximately 2,5 billion liters of water, 9 million kilos of CO2 and 2 million kilos chemicals – per month.

What users say

More than 500 people have already tested the app and 94% find it better than other marketplaces they know about!

 

Business Model:

Service fee per purchase

 

Type klant:

B2C

Gewenst type investeerder:

Angel investor

Wat onderscheidt jouw onderneming van anderen in jouw sector (USP’s)?:

Swipe format, auctions, social, digital, wardrobe, storytelling, fast upload, easy navigation, digital shops and events, green footprint and more!

The business model as a trading agency with a service fee, the fact that products are kept in the app, auctions, the digital and social wardrobe, their animated universe with storytelling and their ability to digitalize charity shops and flea events will be their biggest unfair competitive advantages.

 

Benodigd Kapitaal:

€25.000,- (€50.000,- total required capital of which €25.000,- is already committed)

 

Investeringsbehoefte:

Technical €20.000, Marketing/Advertising €20.000, General/Amin €10.000.

 

Sector:

B2C Software; E-Commerce; Impact

Bedrijfsfase:

Seed

Aantal founders:

2

Aantal huidige werknemers:

1-5

Maandelijkse omzet (huidig):

0

 

Omzet (Prognose) komende 12 maanden:

€250.000,-

 

Omzet (Prognose) maand 13 – 24:

€850.000,-

Huidige maandelijkse kosten:

€5.000,-

Reeds toegezegde financiering:

€25.000,- by a good cause investor

 

Overige relevante informatie:

The Company is being assisted by the Danish Innovation Centre of Sillicon Valley to enter the American Shark Tank.

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