Remarket aims to become Nordic leader in clothing-resale market

remarket-screenRemarket, which just won at the Demo Day for Finnish acceleration program Summer of Startups, looks to become a Nordic alternative to the more established players in second-hand clothing market.

Co-founder Marta Jaakkola from Remarket tells that she and her co-founders are hardly strangers to this market, having launched We Started This as an online store for quality second-hand clothing about a year and a half ago. However, she says that they received a number of requests from customers about selling clothes onwards.

There are second-hand marketplaces, but there was a need for a clothing-exclusive service. Then, at the Summer of Startups program, managed by student-run entrepreneurship Aaltoes, she and 4 co-founders developed their new venture.

Remarket does not have users as it has not yet officially launched, but Jaakola says that they intend to go live soon. For now, the company is supported by the founders. Listing clothing through the service will be free, but they intend to take a 8-15% commission on sales. Jaakola says that they are also considering charging for premium features like pre-paid shipping. They intend to initially target the Nordic markets, but eventually expand to the rest of Europe.

Jaakkola says that they consider a number of other marketplaces to be competitors. In Europe, some of the leading players include French firms Vestiaire Collective and Vide Dressing, which focus on high-end and luxury items, and Vinted. The Vilnius-based Vinted, which Remarket considers to be their primary competition, raised $27 million (to bring their total funding to $32.6 million) from U.S.-based investors Insight Venture Partners and Accel Partners to expand their female-oriented service to the American market.

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