Wethenew sets up shop at Galeries Lafayette Haussmann in Paris
A global market worth $6 billion dollars (€5.6 billion) that is expected to top the $20 billion mark in 2025. Sneakers resale has for some time been much more than a business reserved to a few aficionados.
Several websites have established a foothold in this sector, first in the USA, home to StockX and Goat, but also in Europe. They make the connection between resellers and consumers, and also provide the crucial service of authenticating products that have not been worn before. In France, Wethenew is one of the key players in this market, and the Galeries Lafayette department store intends to take advantage of the traction provided by the site, founded five years ago by David Benhaïm and Michael Holzmann, who told FashionNetwork.com a few months ago they are targeting €100 million in revenue.
A few weeks ago, the concession operated by Wethenew’s competitor OP 2.0 took its leave from the Parisian department store, and Wethenew has taken over, opening two concessions at the Galeries Lafayette’s flagship branch in boulevard Haussmann: one on the store’s domed fourth floor, and another on the men’s section’s first floor.
“Five years after launching, we are especially proud of this new achievement in the retail world. It seemed essential for us to reach this milestone with Galeries Lafayette, our long-standing partner,” said Benhaïm and Holzmann, who first opened a pop-up store at Galeries Lafayette Champs-Elysées in 2020. “With this new, iconic address, we intend to draw even closer to our community and continue our expansion,” they added.
Each week, Wethenew reconditions and makes available for sale 200 pairs of sneakers, driven by a strategy of preserving exclusivity and rarity. The initiative is also an opportunity for Galeries Lafayette to showcase the most directional sneaker models, which the department store does not have access to in its dealings with major streetwear labels.
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