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Tuesday, June 6, 2023

Swedish fashion app gets investment from Norwegian media giant

Plick, a Swedish second-hand clothing and accessory app with more than 500,000 users, gets investment from Schibsted Media Group, Norwegian media giant. With this move, Plick will be largely owned by Schibsted.

In 2013, Plick was founded by Jimmy Heibert and Axel Danielsson. Their app makes it possible for users to sell and buy second-hand clothes as well as accessories. With over 500,000 users, Plick prides itself on being “one of Sweden’s largest niche marketplaces for clothing, shoes and accessories” since its beginning.

Compared to its new majority owner Schibsted, however, Plick is just a tiny company. Founded in 1839, Schibsted is a media giant from Norway with more than 180 years of background in its field. Now this huge media company is investing in the Swedish second-hand clothing app.

Jimmy Heibert, the CEO and co-founder of Plick, said that Schibsted’s trust in their app has given them great confidence to go further in their journey and he added:

“They possess skills that we can take on and allow us to scale our business in the Swedish market.”

Plick is still going to to work as an independent company

Currently there is no information out there on how much investment Plick is going to receive from Schibsted. But we know that the Norwegian media giant is going to become a majority owner of Plick. However, Plick will keep operating as an independent company and scale up their business in the Swedish market.

According to Christian Printzell Halvorsen, the head of Nordic marketplaces within Schibsted, they are investing in one of the most noteworthy names in the Swedish market for “preloved fashion”. Then, he added:

“The service fits in well with Schibsted’s strategy of offering people transaction-based marketplaces that make it easier to buy and sell used goods.”

Sena Konakci
Sena Konakci
A true free spirit, Sena (she/her) spent a substantial part of her life travelling the world and was working for successful startups in many different fields along with writing for local newspapers and magazines for over two decades. With a knack for detecting promising businesses and years of experience under her belt, Sena has decided to focus her attention on writing about startups. Aside from following the newest developments in the startup scene of the Nordic countries, she loves volunteering and camping in her spare time.

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