Newoff (CEO Hyojun Yoon), a used clothing purchasing service company, announced on the 8th that it had attracted seed investment from investment firm Futureplay . The investment amount was not disclosed.
Newoff provides a service where customers can simply leave their unused branded clothing in front of their doorstep, where they will collect it free of charge, inspect each model, and complete cash settlement within 3 days.
The characteristic of Newoff is that it simultaneously resolves the inconvenience of transactions and the difficulty of collecting used clothes that occurred in the existing second-hand fashion transaction market. In addition, by diversifying the sales channels through offline second-hand clothing flea markets as well as online channels such as its own shopping mall and smart store, it has reduced sales uncertainty and established a structure that allows cashing without having to connect directly with consumers.
Yoon Hyo-jun, CEO of Newoff, said, “Our goal is to simplify the complicated used clothing transaction process and create a circular structure where anyone can easily sell and buy clothes,” adding, “Based on this investment, we plan to strengthen our inspection capabilities and expand our purchasing center, and launch our own used clothing specialty commerce app within the year.”
Futureplay CEO Kwon Oh-hyung said, “The used clothing market is growing, but users still face inconveniences,” and added, “Newoff is a team that solves practical problems by systematically designing everything from purchase to settlement and distribution, and we expect it to grow into a trustworthy alternative in the reuse market.”
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