Chicfy

Chicfy was a Spanish online marketplace focused on the buying and selling of second-hand women's fashion. Founded in 2013 by Nono Ruiz and Laura Muñoz, the platform emerged during a period of economic crisis in Spain, tapping into a shift in consumer habits towards collaborative consumption. The founders, who were a couple at the time, had a history of entrepreneurial ventures, including a bar, which provided them with valuable, albeit difficult, business lessons. They famously secured funding for their business idea by winning €175,000 on the television game show "Atrapa un millón," a strategic move to clear prior debts and start fresh.

The business operated as a community-driven marketplace where women could "empty their closets" by selling used clothing and accessories, ranging from fast fashion to luxury brands. Chicfy acted as an intermediary, facilitating transactions between thousands of sellers and a large community of shoppers. Its revenue model was based on taking a commission on sales, which was reportedly 20% charged to the seller. The platform's initial launch was a notable success, garnering 16,000 visits and over 60 orders on its first day. The brand became widely recognized in Spain, particularly after a successful advertising campaign with the catchy and iconic tagline, "¡Claro que sí, guapi!".

Despite its early growth and reported revenue of nearly €4 million in 2017, Chicfy faced intense competition, particularly from the Lithuanian platform Vinted, which entered the Spanish market with a more competitive commission structure. In 2017, Chicfy struggled to close a significant funding round, leading to internal restructuring where the founders were removed from management roles. Ultimately, in November 2019, Chicfy's Spanish operations were acquired by Vinted for a sum reported to be less than €10 million. Following the acquisition, the Chicfy platform was shut down, and its users were invited to migrate to Vinted.

Keywords: second-hand fashion, online marketplace, collaborative consumption, C2C e-commerce, women's apparel, used clothing, fashion resale, Spanish startup, Vinted acquisition, Nono Ruiz, Laura Muñoz, peer-to-peer marketplace, circular fashion, digital marketplace, fashion technology, social commerce, pre-owned luxury, startup acquisition, e-commerce Spain, clothing resale app