Offer anyone the opportunity to open an online store: the idea behind Letsell (in English, we sell) everyone likes it, as the numbers confirm: over 5 million euros raised since the creation in 2018, one growth of 300% in 2020 and over 130,000 active customers.
The last round, which ended in mid-June, brought a capital increase of 3 million euros, which will be used to support new IT investments, marketing actions and the imminent landing in France.
Letsell and born in 2018 starting from the experience of Brandsdistribution, Turin giant of B2b online distribution, created by Carlo Tafuri, founder of the Turin startup together with Michele Contrini and Luca Ferrero: “The original seed was the desire to allow ordinary people to become active players in the e-commerce world, without having to create a company, without VAT, without having to procure products or have a warehouse – explained Ferreo, founder and Coo di Letsell – We started with clothing, strengthened by the experience of Carlo (Tafuri, ed) and over 30 thousand products we had available, then we expanded the sectors, always looking for a direct relationship with the brands “.
How Letsell Works
Letsell allows aspiring entrepreneurs to create an e-commerce site, which draws from an assortment of thousands of products, signed by major brands, divided into 8 product categories. The leader takes care of the warehouse and supplies: who creates the site must exclusively choose the products on which to focus and promote their sale. Letsell deals with the development of the software, supplying the warehouse, logistics: “In return, the letsellers pay us a fee – clarified Ferrero – It is a win-win model, because if the letseller sells, he is entitled to a margin of 30% and a small percentage also reaches us. We also assist letsellers by teaching marketing techniques online to make the best use of social media “.
The truly innovative aspect is represented by the fact of connect people with brands. The manufacturer has the opportunity to interact with the letseller who resells the products, who in turn becomes the brand ambassador to his contacts: “We move in parallel with others existing online sales channels – Ferrero wanted to specify – We have no direct competitors at national or international level. Very interesting aspect, but at times also tiring, because there are no precedents to be inspired by “.
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The € 3 million capital increase was subscribed for € 1 million Lift, a venture capital created by the Polytechnic of Turin and the Compagnia di San Paolo and the new funds will serve to support the huge investments and the piano marketing to expand the letseller base and continue to involve new brands.
Above all, it represents the fundamental push towards the internationalization of Letsell, which aims to expand on the French market by the end of the year, to aim for Spain in 2022: “We have a dual objective – Ferreo pointed out – on the one hand we try to involve local realities, to propose them through a new channel to potential buyers in the area; on the other hand we want to push Italian brands abroad and many brands are particularly interested the opportunity to land on foreign markets “.
Also because Letsell not only focuses on big brands, but also leaves room for smaller realities, local and quality, so the idea of being able to land on international markets is particularly attractive.
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