Snocks secures double-digit million amount

The Mannheim-based start-up sells socks and underwear. For the international expansion, an investor is now coming on board for the first time.

Just a few weeks ago, it was announced that Snocks had achieved sales of 32 million euros in the 2021 financial year. Now the start-up has raised a double-digit million amount from investors. The capital comes from private equity firm Cathay Capital. The exact amount of the investment is not known. For Cathay Capital, Snocks is the first e-commerce investment in Germany.

With the new capital, Snocks plans to grow further and open an office in Paris. "We plan to be able to generate sales of around one million euros there within a year - significantly more is also conceivable," says co-founder Johannes Kliesch about his ambitious expansion plans. After the French market, the start-up also wants to expand to Spain, Italy and Nordic countries. Cousins Johannes Kliesch and Felix Bauer founded the start-up in 2016. At the time, they were still selling their first sneaker socks on Amazon. In the meantime, the founding duo also operates its own online store. According to their own information, five million customers already use the store.