The women-owned luxury resale site that operates similarly to a Vestiaire Collective, launched pre-pandemic in 2019 when it was “still culturally taboo to buy secondhand,” Portèlo co-founder and chief executive officer Balbina Garza López, told WWD.
, is growing at a rate 11 times faster than traditional resale and expected to climb from a $36 billion valuation in 2021 to $77 billion by 2025.
“Anything over $1,000, we charge 20 percent. We try to make our commissions as attractive as they can be,” Garza López said. “Our sellers spend absolutely zero money on anything. They can send their products in an old shoebox — the idea is to reuse whatever you can, whatever you want — you won’t spend a cent, you will only receive your 80 to 70 percent payment at the end of the whole transaction and it’s intact, there’s no hidden fees.
“We bootstrapped, me and my co-founder [were self-funded at the outset], we were profitable from the first month and up until the first 12 months because of this obsession of cutting costs and keeping it lean and just proving that we can be profitable,” Garza López said. “After the first 12 months of operation we did invite angel investors and they’re still with us now.
Still, Portèlo has found two key backers — one male and one female — who have supported the business since the outset.
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