Samuel Spitz is a lover of secondhand clothes however discovered he was spending hours looking throughout dozens of resale websites to search out sure objects and arising brief.
“The market may be very fragmented with the entire websites,” Spitz informed TechCrunch. “And as soon as I’d get on a web site, it was actually laborious to search out what I wished, plus you solely see a fraction of what’s really there. Oftentimes what I used to be in search of wouldn’t be accessible immediately, in my particular measurement or in my goal value. I simply maintain looking, looking, looking each week, spending hours doing it as a result of I like to search out the offers.”
That’s when he obtained the concept of becoming a member of all of these secondhand listings collectively underneath one umbrella. In March 2021, he joined with fellow Rice College graduate Kunai Rai to begin Gently, previously Wearloom, in what Spitz known as “Amazon for secondhand,” which permits customers to buy throughout websites, together with Poshmark, Depop and eBay, from one place.
The corporate’s preliminary “know-how” was a type that folks might fill out that claims the garments they’re in search of, and Spitz and Rai would manually compile the search outcomes and reply by way of electronic mail. By the tip of the primary month, the pair was serving 500 to 600 individuals on daily basis and it grew into the 1000’s within the second month.
When all of these guide searches grew to become an excessive amount of to maintain up with, they began constructing the central platform for secondhand procuring on-line that Gently is at this time.
The corporate, now serving tens of 1000’s of customers on daily basis, companions with websites like eBay, ThredUp, Vestiaire Collective, Rebag, Grailed, GOAT, StockX and TheLuxuryCloset in order that customers can search, filter and get alerts from secondhand clothes websites. Gently makes a share of gross sales that it drives to these websites.
Gently’s secondhand attire market Picture Credit: Gently
“It’s much like how Kayak operates for journey,” Spitz mentioned. “We additionally usher in new prospects which will have by no means shopped with them earlier than.”
In Could, ThredUP reported in its 2022 Resale Report that the worldwide secondhand attire market was anticipated to develop 127% by 2026, which is 3 times quicker than the general world attire market. Within the U.S. alone, the secondhand market noticed “document development” of 32% in 2021 and was forecasted to greater than double within the subsequent 4 years to be valued at $82 billion.
Along with these already listed, there are tons of marketplaces and startups working on this house, together with Olive, Archive, Curtsy, Rebag and Treet, which all grabbed some enterprise capital funding prior to now two years. Spitz considers his closest rivals to be Lyst and ShopStyle, which is a Rakuten model.
Right this moment was Gently’s flip to announce its new capital infusion of $2 million in pre-seed cash in a spherical that included over 20 buyers like Jason Calacanis’s Launch, Bloom Tech’s Austen Allred, Shutterstock’s Jon Oringer, RXBar’s Peter Rahal, Dorm Room Fund and V1.VC.
Spitz expects to develop the variety of on a regular basis customers to 1 million by 2024. He intends to deploy the brand new capital into know-how growth to enhance search, launch SMS performance and create a sizing perform so customers solely should enter their measurement as soon as. The corporate can also be hiring extra individuals to affix the six-person workforce and to increase from vogue into different classes, together with furnishings. He’s additionally eyeing a Sequence A in 2023.
“The explanation most individuals don’t store secondhand on-line is as a result of it’s tremendous time-consuming and has a variety of friction,” he added. “We may help these corporations drive extra gross sales and get extra individuals procuring.”
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