Micolet

Micolet operates as an online marketplace specializing in the consignment of second-hand women's clothing and accessories, positioning itself within the circular fashion economy. The company was established in Spain in 2015 by co-founders Aritza Loroño and José María del Moral. The idea originated when Loroño's partner sought a hassle-free way to sell clothes she no longer used, revealing a market need for a service that manages the entire resale process. Both Loroño and del Moral are alumni of the University of Deusto, where they studied Industrial Organization Engineering. Prior to Micolet, they co-founded Colectivia, a collective buying portal, which provided them with foundational experience in the digital sector.

The business model is designed for seller convenience, a key differentiator from peer-to-peer platforms. Micolet handles the entire process for the seller, including collection, quality control, valuation, professional photography, listing on the website, and shipping to the buyer. Revenue is generated through a commission-based structure; Micolet charges the seller a fixed management fee plus a percentage of the final sale price. The company's target clientele consists of fashion and sustainability-conscious women looking for affordable, high-quality second-hand apparel, including items from low-cost brands that some competitors do not accept.

Since its inception with a modest €3,000 investment, Micolet has demonstrated significant growth, expanding its operations across Europe. The company launched in the UK, France, and Portugal in 2018 and has since entered markets in Italy, Germany, Poland, the Netherlands, and Belgium. To support this expansion, Micolet opened a 10,000-square-meter warehouse and recently acquired the Portuguese platform MyCloma to strengthen its presence in the Iberian market. In addition to its primary online channel, which accounts for 95% of its business, the company operates several physical stores in Spain. In 2023, Micolet's Gross Merchandising Value (GMV) reached €9 million, and as of May 2024, it was seeking a funding round of up to €5 million to finance further development. The platform's mission is to promote sustainable fashion by extending the life cycle of garments; items that are not sold are donated to NGOs.

Keywords: second-hand fashion, circular economy, online marketplace, consignment service, used clothing, sustainable fashion, recommerce, pre-owned apparel, women's fashion, European e-commerce, Aritza Loroño, José María del Moral, fashion resale, clothing consignment, sustainable retail, online thrift store, slow fashion, fashion technology, circular fashion startup, e-commerce logistics