Wethenew

Based in France, Wethenew is an e-commerce platform specializing in the buying, selling, and trading of authenticated second-hand streetwear and sneakers, promoting sustainable fashion practices. Founded in 2018 in Paris, France, Wethenew operates as a dedicated marketplace for authenticated second-hand fashion. The company has successfully completed four investment deals, with the most recent transaction occurring on May 10, 2023. During this period, Wethenew raised EUR 20 million in Series B funding, led by C4 Ventures along with participation from Athletic Ventures and Chalhoub Group, while also receiving support from Singular Ventures.

The founders, David M. and Michael Holzmann, have laid a strong foundation for the company’s operations in the growing second-hand clothing market. Wethenew specializes in the buying, selling, and trading of authenticated second-hand streetwear and sneakers, emphasizing sustainability and circular fashion. The company operates a robust online marketplace that connects sellers with customers seeking premium pre-owned fashion items.

Each item is subjected to rigorous authenticity checks before being listed, ensuring quality. Their offerings target major urban centers in Europe and North America, catering to fashion-conscious consumers interested in unique styles and environmentally responsible purchases. By providing a seamless transaction process, Wethenew meets the rising demand for sustainable fashion and enables users to sell their unused apparel. Revenue at Wethenew is generated mainly through transaction fees on sales made via their platform.

Sellers list their items, and upon successful sales, Wethenew retains a portion of the sale price as commission. This model promotes ease of use for both buyers and sellers, fostering a vibrant community around high-demand fashion products. Transaction fees vary based on the item's value, with flagship items likely commanding higher prices due to their popularity among consumers. This approach supports Wethenew's operational needs and encourages growth by creating an appealing environment for sellers.

In May 2023, Wethenew raised EUR 20 million in Series B funding to support its business expansion. The company plans to utilize this funding to enhance its market presence and reach new consumers. Specific details on upcoming product launches or geographic expansions have not been disclosed, but the focus will be on broadening their market reach by targeting new areas in the fashion industry.