Cycle Platform seeks to invoice two million euros in 2024

Cycle Platform continues to boom. The luxury clothing rental company with the option to buy, which was born in 2022 with an initial investment of 100,000 euros by five co-founders, has the objective of closing the year working for fifty companies in the sector and of invoicing two million euros in 2024.

By the end of June, the company hopes to get half a million euros in a round of financing, through the European investment platform Start up Explorewho has experience in launching retail projects in Spain.

The platform has reached an agreement with Galeo Tech. Thus, they have increased their technological development. They offer a completely new consumption model both for the user and for the textile industry itself. In short, they want connect with brands and retailers to offer the user a buy-back program. So the user can use the product for a period of six months and giving the possibility of returning them at the end.

Cycle Platform plans to have 50 brands in its catalog by 2023

Among its plans for 2023, Cycle Platform plans to work with more retailers and expand the brands in its catalog. Currently, some of the companies with which the startup operates are Coperni, Low Classic, Aeron, Proenza Schoulder or Manushka, among others.

The company wants to get up to 50 brands for this year, working with luxury fashion and streetwear. In addition, it will not have alliances with large distribution companies, since the price is lower and the logistics costs do not compensate.

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